You’re sitting across from a giant customer who could drastically improve your business. They give you a lowball offer. You’re nervous. What’s your move? If you’re like Ryan Marien, who as founder of online consumer goods and services marketplace Buytopia has brokered deals with such behemoths as Best Western, you counter aggressively. “I think most small businesses aim too low,” he says. Going bold, he adds, has only earned him favourable terms.
It doesn’t have to be so. In fact, there are several tactics you can employ to hold firm in even the most intimidating negotiations. Experience helps breed that kind of confidence, but so does training, says Onaitis. “It takes practice, confidence and planning. If you shoot from the hip, you’re not going to get the best deal.” She recommends seconding an employee to rehearse an upcoming negotiation, with you taking the role of the person you’ll be dealing with. “You can get a real sense of what they might ask for.”