Negotiating the Deal

The art of negotiation is a very much needed craft if you want to be a successful entrepreneur.  As a business owner you have the responsibility to create sales and lower operational costs.

You will have to negotiate everything you buy as a business owner, and most everything is negotiable.

I have taught negotiations to many in my professional career.  It is indeed much easier to teach someone negotiations via live voice or in person because they are able to hear the response from vendors.

Negotiations is all about reading people and when you have mastered this, you can save thousands to millions of dollars.  I have negotiated contracts that saved one company alone over $12million dollars in an 18month time frame. How’s that for affecting the bottom line?  Yacht trips and company parties for sure.

Don’t be afraid to negotiate. I do understand some people just really don’t have the knack for it.  I have heard people negotiate in ways that make me want to puke, for use of nicer words.  If you sound like a negotiator, you won’t ever win. You have to sound like a professional ready to do business, ready to make the deal happen. and you have to be ready to commit in that moment in time.

The vendors I have “beat up” the most in pricing are the ones who end up the best relationships.  We have bonded over the years. There is a business understanding and partnership for success.  It’s a “you help me I help you attitude”

Be strong, be assertive, be smart, and do your homework. You don’t want to insult anyone. You want to know the high, the lows, the average and all about quality– because you don’t want to sacrifice quality for pricing.

Hope this was helpful.

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To your success.