The Silent Value Killer
If I banged my head every time someone told me they got a good deal because it was less than their budget I’d have a serious brain injury!
Let me be clear a saving vs. your budget doesn’t necessarily mean you’ve got a good deal.
One of the key reasons why value is left on the table is that it often remains completely undiscovered.
Why does this happen?
Because the mistake most people make is aiming for a saving vs. budget.
When they focus on their budget they’re anchored to their own internal benchmark of success.
And usually when people get within their budgeted range they feel relief, a sense of satisfaction.
It’s this satisfaction that is the silent value killer.
Let’s take a simple example of eating a meal - if my hunger is satisfied I’m not likely to go looking for more food because I won’t feel I need it.
When I’m feeling satisfied the signals I’m sending my body tell it I have enough. My body relaxes, it starts to feel comfortable and it’s ready to finish up and move away from the table.
The same is true of negotiation.
When you’re satisfied by making a saving vs budget why would you seek to discover more?
When you’re feeling comfortable because you’re now within an acceptable range why would you choose to lean into discomfort again?
Most people live by the old adage that a bird in the hand is better than two in the bush but the reality is there are significantly more than two birds in the bush and you’d most likely discover better ways to get more in your hand if only you could feel enough dissatisfaction to discover how.
Next time you feel relief and satisfaction in a negotiation ask yourself if there is a chance you might be leaving value on the table?
It’s only through awareness that you begin to change your unconscious ways of being.
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Great analogies Glin. I think most of us in procurement at some point or another have benchmarked against budget to lock in a savings number. I like your approach to value. Keep up the great content.