Negotiation is a skill that is very important for many reasons. For your start-up it can mean the difference in margin percentage on a sale, or the additional service you may need from a vendor or supplier. As an entrepreneur, don't underestimate the power of negotiating.
Practice, Practice, Practice:
Many people lack confidence when it comes to negotiating. You can develop this confidence by negotiating more often. Ask for discounts from your suppliers and vendors. As a consumer, develop the habit of asking for a price break when you buy from a retail store. Here are a few questions or statements you can use to practice your negotiation skills:
- "You'll have to do better than that."
- What kind of discount are you offering today?"
- "That's a bit too expensive." Wait for their response afterwards.
It's ok to flinch! - Be pleasant and persistent but not demanding. Condition yourself to negotiate at every opportunity will help you become more comfortable, confident and successful.
Be Prepared to Walk Away:
When you're the one selling, remember, tt is generally better to walk away from a sale rather than to give away the farm. This is particularly tough to do when you are in the midst of a sales slump or slow sales period. But, remember there will always be someone to sell to.
No comments:
Post a Comment