Go to navigation Go to content
Toll-Free: (888) 927-6955
Phone: (770) 487-8999
Law Offices of Shane Smith

Contact Us

Get help now! Please fill out the quick contact form below for a fast and free case consultation. We will contact you within 24 hours!

Important Negotiating Skills for Business Owners

Although most of us like to believe that we have strong interpersonal skills and the ability to work well with others, nearly everyone could use some help refining their negotiating skills. Simply believing in the quality of what you’re selling or how much money you can truly afford to spend won’t give you the upper hand.

The following techniques should work as well with both small and larger companies.

Useful Tips for Negotiating the Best Contracts and Trades for Your Company

  • Be sure to do plenty of research on the other company and its top executives before you ever agree to meet with any of them. There’s a great wealth of information available on the Internet about every company, its executives and recent track record. If you can tell the other side exactly how they’ll benefit from making a deal with you – based upon their current holdings, you’re halfway to meeting your goals;

  • Ask yourself what your top goals are and how you can best meet them. Always consider speaking confidentially with your other top executives or mentors to obtain their advice regarding your current situation. Take the time to rank your goals as well and try to meet as many of them as possible as you negotiate with the other party;

  • Be absolutely certain about what the very “worst” deal is that you might be willing to accept and still feel like the interaction was worthwhile --- without truly underselling yourself, your product or your services;

  • Consider asking the other party if s/he will write down her/his most reasonable offer when you do the same – in an effort to save time and avoid fighting over minor points;

  • Try to think of ways you might help the other side apart from the money involved. Is there any way your company could provide adding marketing help to the other side, in addition to the other contract terms? Try brainstorming so you can figure out other offers you can make to sweeten the deal for the other side, without parting with more cash;

  • If you just can’t reach a “meeting of the minds” and come up with a deal that satisfies both of you, be ready to walk away – without burning any bridges.

  • Don’t bring your ego into the deal. If you start taking the negotiating personal, it’s easy to lose your temper or even accuse the other side of being grossly unfair. Just remember, it’s only business;

  • Even when your company is “David” and the other one is “Goliath,” don’t assume you have less to offer. Plan ahead regarding the best way to present everything the other side will win – and permanently benefit from – if it accepts your contract terms.

     

Finally, remain pleasant at all times since one of you may want to schedule a later follow-up meeting to try and negotiate the “perfect deal” for both sides.

 

To obtain help with handling all of your Georgia business planning needs, please contact the Law Offices of Shane Smith today.  You can schedule your free initial consultation with a knowledgeable Peachtree City estate planning attorney by calling: (770) 487-8999.


Shane Smith
Advocate for the Seriously Injured in Georgia