Think you know everything there is to know about negotiation? Jonathan O’Brien, CEO of Positive Purchasing, lists top ten tips for negotiating with suppliers on Business Advice, the website providing expert advice for the engine room of the British economy.
(1) Decide what you need beforehand
Knowing what you want from a negotiation before you start is imperative. Sometimes it is very clear, sometimes there could be several possible outcomes. But without an end goal, we risk putting ourselves in a “decide on the spot” situation, finding we have been talked into things in the heat of the moment.
(2) Do your homework
Doing your homework about the industry, what you are trying to secure, the people involved and culture you are dealing with will enable you to understand where you may be able to leverage a better deal.