Tuesday, January 17, 2017

CHECKLIST FOR NEGOTIATING A BUSINESS DEAL

Negotiating is an integral aspect of business operations. Anita Campbell, the founder, CEO and publisher of Small Business Trends, has extensive experience in the practice. Her checklist for negotiating a business deal includes this step. It is one worth emphasizing:

Weed Out Tire Kickers

“We’ve all encountered them at one time or another — the tire kickers. These are people comparing prices or “seeing what’s out there.” They will pump you for information but have no intention of buying from you.

Don’t waste your time trying to negotiate with anyone not serious.

To separate tire kickers from serious parties, ask how soon they plan to purchase, what specific needs they have, and other probing questions. Try to get them to do something that takes a bit of effort, such as setting up a face-to-face meeting, or filling out a short questionnaire, or confirming your notes from an initial phone discussion. Tire kickers usually melt away if called on to get specific or commit to anything.”

Read her full article here. And bookmark her organization’s site, Small Business Trends. It is full of free, helpful guides for entrepreneurs.

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