negotiation

Negotiation skills are important when working with your Chinese suppliers — the people who actually manufacture your products. You need to learn some good ideas before you start to send an email or phone your Chinese suppliers. 1) Do Your Homework You won’t be able to make much progress in your negotiations if you haven’t done a fair share of research in advance. You should understand the basics of working with Chinese suppliers, while also conducting in-depth research on individual businesses to create a preliminary list of partners who seem like they would be a good fit. Researching basics like available product types, minimum order QTY and shipping terms can help you get a better idea of which suppliers have the potential to meet your needs. Not only will this help you make a good impression with suppliers once you pick up the phone and call; it will also help you…

Negotiate everything in life, from your diving suit to your wages, from the new car to the flea market shirt… In application to your suppliers you can practice the technics with lower profile suppliers and improve them in big spent suppliers. There is no negotiation if there is no deal. Know your own limits and how much you can give in. I remember perfectly how I failed negotiating a last-minute room in a rural hotel. They did not give in price, and we both lost. They lost a customer forever and probably did not recover a room at 08:30 p.m. Saturday evening, but I also lost since I had to drive 80 km. back to town. So there must be always a mutual agreement and be ready to give in sometimes for achieving your targets. In my opinion, people who never give in achieve short time targets only, and have…

Getting to the negotiation stage of a sales process can feel like a marathon. Crossing the finish line with terms everyone agrees on? That’s even harder. From preparing the wrong way (or not at all) to letting the buyer handle the next steps, there are plenty of ways to stumble during this process. Check out six common mistakes to lose a negotiation. 1: Don’t Prepare Walking into a negotiation unprepared is a surefire way to walk out with a bad agreement. It’s hard to think clearly when you’re in the hot seat, so without a defined strategy you might end up agreeing to unfavorable terms or even losing the deal. First, know your goals. What do you need vs. just want? Where are you willing to compromise? At what point must you walk away? Next, go through the same exercise from the prospect’s perspective. If you can anticipate their objectives, where…