One of the most important ways to increase leverage in a negotiation is to be prepared.
Before I negotiate contracts for clients, I want to understand their goals, their bottom line and what alternatives they have if the deal falls through.
My client “Tim” owns a chocolate store and he had the weaker position in a recent negotiation for a distribution deal with a commercial kitchen. As soon as they met, he got very attached to doing a deal with them. He was anxious to agree to everything they asked for.
We talked about developing alternatives that would increase his leverage, by researching other facilities and coming up with other creative options. That helped ease a lot of his anxiety because, while he still preferred this deal, he now had multiple other choices.
Now, as a business owner, have you thought about how you can focus on growth while handling these "boring" but essential tasks? Let's explore how I can help lighten your load and enhance your business journey. Share your thoughts on negotiation challenges or goals in the comments.