Business News

Business Boot Camp, day eight – haggling for a better deal

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by Peter Switzer

Being a tough negotiator is a must in any business. This doesn’t mean you have to be rude, but you do have to stick to your guns when trying to get your way.

For example, if you want to get a better deal and think your supplier is charging too much, try calling some other suppliers to find out how much they charge. Then call your current supplier and say you don’t want to change, but your accountant has said you need to cut costs and you’ve found cheaper suppliers. If they don’t move on their price, you’ve already done the research to find another supplier.

Doing this research is crucial in order to have a strong base to negotiate on costs.

What negotiating tips do you have to knock supplier prices down a notch?

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Published on: Friday, December 31, 2010