Posted on: July 18, 2017 by Goodrich & Watson
As a small business owner, there are going to be plenty of opportunities for you to negotiate a good deal. While it’s easy for inexperienced negotiators to have their confidence shaken, familiarizing yourself with these common tactics can give you a leg up on the competition. In addition, protect your business with a comprehensive Newport News Commercial General Liability policy.
Much like identifying a child throwing a temper tantrum to get what he wants, you’ll have to learn to pick out the behaviors of potential business partners that you don’t want to see. Rather than placate the person, hold your ground and don’t give in to their unreasonable requests.
This is a common theme found in many negotiations, especially as an intimidation factor. If a negotiation is emotional or aggressive, it’s time to take a step back and reevaluate the partnership.
Without realizing it, many business owners take blame for the other party’s issues. Instead of accepting this, or potentially feeling obligated to sell your product or service for less, ask what else you can do to remedy the problem. Don’t immediately accept blame, it’s likely that the other party is bluffing.
It’s the very nature of negotiating to try to get something for less. The person across the table will look for the issues they feel they have the most leverage on. These could include price, quality or a variety of other factors. The trick to maintaining control is to turn the tables and discover your adversary’s priorities. If they focus on your price and you know time to market is important to them, you have a starting point to trade lower priority items for higher ones, explains Small Business Trends.
At Goodrich & Watson Insurers Inc. we understand the pressures of owning a business. Contact us today at 888.829.5004 for information on our Newport News General Liability Insurance as well as other Policies.