Fri 19 Sep 2008
How to Negotiate Without Making Enemies
You can increase the profits for your small business if you effectively negotiate with your suppliers as well as your customers.
However, how do you negotiate a better deal without making bitter enemies? Here are some helpful hints to negotiate effectively, while keeping everyone involved satisfied.
Instead of trying to back your client or supplier into a corner from where they can only react in a hostile manner, offer them various options that they can think over before making a choice.
This gives an impression that you are being fair with them.
Keep Alternate Plans Ready
Try to anticipate the reaction to your offer and formulate alternate plans in case your main strategy fails.
If the opposite party comes up with an offer that you have not thought of, then ask for some additional time to think it over.
Keep an Eye on the Ultimate Goal
The ultimate goal of both parties involved is be to seal the deal. Remind yourself - and your client or supplier - that you are interested in the deal.
Having the foresight to visualize the sealed deal by all parties involved will provide the motivation to compromise and finalize it.
Keep Personal Feelings Out
Do not let personal feelings interfere in your negotiation process. Treat the entire process as a part of business.
Do not bear grudges against anyone and keep your word when you negotiate.
A good negotiator is one who can convince everyone that the deal is the best bargain. If you can negotiate hard and manage to keep everyone happy, then your small business will definitely benefit.