Jul 05, 2022

BUSINESS MATTERS: Get Some Mileage

By Glen J. Dalakian Sr.

How fast are you to say yes? Have you ever made a deal that was accepted quickly, only to have buyer’s remorse like you could have done better? More to the point, have you ever been asked for something and jumped to provide the part, service or time and thought later, “I should have gotten something in return”? Then next time you find yourself in these circumstances, consider how to get some mileage.

If, while buying a car, you ask the salesperson for $500 off and he immediately says yes, don’t you wonder, “What if I asked for $1,000”? But what if he took some time, wrangled a bit, maybe even said, “I really can’t do that, but let me check with my boss.” You’d feel like that salesperson had worked for it, and you received something that others did not. In the later scenario, the salesperson “got some mileage,” and you felt good about it. This often can help make a transaction feel like a win-win for both parties.

Here are two scenarios an entrepreneur may find themselves in and how to make the best of it:

1) When asked to reduce your price, don’t cheapen the offering. Add value and get some “mileage.” A client wants an extra widget or a discount for the one you are offering, and you are willing to give it, that’s good, but why not make it great? The client says, “If you can give me 5 percent off now, I’ll sign the deal.” Your response should be one that shows you had to work at it to get there, making the client feel better about what he perceives to be a win. A simple “let me see what I can do” or perhaps “I’m not sure if I can make that happen” can go a long way when you finally give what they want.

2) An employee asks for a raise. Are you jumping right in with a number? An increase in pay can be viewed as an entitlement. The employee may think it’s the employer’s obligation to pay them more each year, but business owners know this is not true. An employee raise is less of a thank you for past performance and more of an investment in future results. What kind of “mileage” will you get for the company from this request. Whether you grant the raise (in any proportion) or you say no, you can still get “mileage” which can benefit the company and the employee.

Above all, build value and trust as this will be the way past any dollar concerns, but when asked for something, consider how you can create a win-win scenario.  

Do not try this at home, this is a business concept. If your spouse catches you doing this to him/her, you may find yourself getting mileage that leads to a night or two sleeping on the couch!