We would like to share few tips for small, home and micro business owners regarding negotiation of small business deal.
Before embarking on any negotiation, you need to be highly prepared to comprehend your client. There is a nice word “Blind Will” mostly used in business negotiation. If you have ‘blind’ will, it will automatically help you give the upper hand to the other party.
You need to be very clear about your own motivations for entering business negotiation and also try to understand what the other party will be looking to gain from your service.
You should never give away or concede anything without getting something back from the other party in return. Evaluation skill is important at every stage of the negotiation. At every stage you need to weigh up whether a deal is even possible. While dealing, you make sure that the persons have enough authority to complete the deal, otherwise it is wastage of your valuable time. And ultimately you have to back out.
When it comes time to close the deal, make absolutely certain that all parties agree on the terms. The consequences of any deal are likely to last for some period of time (perhaps permanently) so it is essential that there are no misunderstandings or ill feelings.
No comments:
Post a Comment