12 Negotiation Tips Every Start-up Entrepreneur Should Know

6. The emotional connect : This can be easily learned from any road-side hawkers. We, as a buyers, ask him for a better price and he shall go all emotional about the efforts he has spent and shall eventually ask us the price we want to buy his product for. Though it’s a little cheesy while dealing with enterprises, having tried it myself, have seen it work !

7. The blackmail : Using words like, “don’t let me down” and “we are close, don’t walk away” work in a way in which the buyer instead of negotiating, gets in a consoling mood, that’s when the rod is hot and you can hit the hammer !

8. Drop the price, take a hit : In the course of the conversation,try and understand which of the featureor part is THE most critical for the buyer. When the negotiation gets inevitable, drop the price but strike off the feature which is most critical to him. It will automatically get him on the back-foot.

9. Walk out : Once you are convinced that the buyer really needs your product or solution, do a walk out below a pricing point. The buyer at that point would not want to lose on getting this deal in. Beware that this may backfire though if you come across highly egoistic buyers.

11. Pull back your offer : You can try giving an offer and then pull it back after sometime behaving as if you gave away a little bit too much. The buyer will try and latch on to it thinking it’s a good deal. You always wanted to give that offer, but a straight offer would have been rejected.

12. Create a mountain out of a molehill : Project some part of your product as something really valuable which you can’t give away for free even if it isn’t that important. After some negotiations offer to give it for free. It will make the buyer feel a sense of victory at the same time will not affect you much.

Negotiation is actually a way in which to achieve at a point that both the parties think it’s a win-win situation. Adeal can’t go through with any of the parties feeling dissatisfied. The above pointers can only help you close that deal efficiently but the success will all depend on your product and service !

Courtesy The Indian Fusion

ARB Team
Arbitrage Magazine
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