How to Negotiate: The beginner's guide to saving money, gaining confidence and getting great deals
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About this ebook
Negotiation is an essential skill for business owners, one which is sometimes overlooked. The benefits of being able to negotiate well are significant and extend beyond business life. Besides being able to save money, you will be able to improve other aspects of your deals which may include payments, delivery, volumes, quality, you may get other benefits such as marketing support and you should gain some extra friends! Knowing exactly what you need to achieve and making a plan of how to go about it will certainly improve your confidence when dealing with suppliers, and will give you and your company a professional edge.
This book takes you through all the steps necessary for good negotiation. Starting with some golden rules which ensure that you don't rush into a deal or make mistakes, we will to make sure you understand what you are wanting to achieve and then ensuring that you understand the needs of your supplier or customer to get to a 'win-win' situation. The book highlights the importance of building long term relationships and it gives tips on meetings, what to wear, language to use and body language to be aware of.
You will learn:
- How to carry out research into your market
- How to find many ways to save money
- To understand how to structure deals that will benefit you
- To communicate clearly with your suppliers and customers
- What to expect at business meetings
- How to keep discussing a deal until it is right for you (and your supplier)
- The importance of relationships
- How to feel confident even in difficult situations
- Negotiating skills you learn never fail to stand you in good stead when you are in discussions at home or work.
Chloe Askwith
Chloe Askwith is an experienced negotiator and working mother. Chloe has worked for over 15 years in film and television both buying and selling across Europe the Middle East and Africa. She has experience of working with large corporations and small start up companies with deals from a few hundred pounds to many millions. While having a large amount of negotiating experience, Chloe also understands the needs of start up businesses first hand.
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Book preview
How to Negotiate - Chloe Askwith
www.negotiationcafe.com.
1. What is Negotiation?
WHAT DOES THE word negotiation conjure up for you?
It makes me think of Denzel Washington in a darkened smoky room, of tense hostage situations – or lengthy peace talks. It also comes across as a word that definitely belongs in large, unfriendly boardrooms.
I have been working in the world of negotiation for many years, and have come to understand that it is really a way of communicating where there are some set rules. And instead of being something reserved for specialists, it is a skill that can be learned, and is relevant and useful to all of us. If you have a small business, or are considering starting one, there is a huge value in learning how to negotiate properly.
Negotiating between two people is finding an agreement that both are happy with. This is not just about setting a price. It is more than that. It is putting in time and effort to make sure that you and the person or company you are dealing with would be more than happy to come back and do it all again. As so many books and courses put it, you are looking for a ‘win-win’ situation.
By working through this book you will be finding solutions to make people happy. Some negotiators are naturally good at doing this as they can think widely and find creative ways to problem solve. Others can work through some basic steps to get to the right agreement. It is a way of thinking and working that you can very easily pick up.
In this book I am going to show you:
how you can benefit from negotiating
the preparation you need to do before you start discussions
how to get started, with a step by step guide to how to get a good deal
what to expect when negotiating
how to continue by maintaining strong relationships with your clients
tips on language to use, what to wear and what to do in meetings.
2. How Will You Benefit?
IF YOU ARE going to be successful at getting your own way (that’s essentially where we are going here), you need to be clear about what you can get out of the whole process. It’s essential for both motivating and directing your efforts.
Save money
There are many ways to get yourself the right deal. It all depends what your needs are and finding out what is important to your supplier. By helping them you could, firstly, save yourself money.
Spending some time building a good relationship with your supplier is one key to this. Talk to them and find out when they need to complete their sales for the year. Do they have targets to hit? If you help them to get to the right number will they give you a good deal? Making a large order to get a volume discount is a classic variant of this.
You could also save yourself money by getting a supplier’s agreement to spread your payments, thus helping your cash flow and avoiding an overdraft.
Lastly, you could save by setting prices with your supplier for the next deal, when prices would otherwise rise.
Feel confident
Knowing how to negotiate also means a confidence boost. If you are well-prepared and have a set of rules to follow in striking deals, you will feel much more assured when you go into a meeting – even in a large boardroom on your own . . .
When you have achieved your goals, and both you and your clients are happy – that is a really good feeling! Closing a good deal, whether buying or selling, where everyone is happy makes life more pleasant. It feels good to do a good job.
Make friends
Effective negotiation means building, not burning, bridges. A definition of a good deal is when no one leaves the negotiations either feeling ripped-off or regretful in any way. Both parties need to feel like they could go through it again.
Building relationships with people gives you and your business security. You may even find more business by getting to know your customers and suppliers better. And by building on your relationships with suppliers you will get to know more about all aspects of your business and the chains that feed into it: this could help you run things more efficiently or spot the next big opportunity in your