Blog - How to negotiate. Profitably and without nerves
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Trading online has become easy and profitable. The world wakes up with the internet and goes to sleep with it. We are accustomed to measuring our actions against what the web 'tells us'. We look at ratings, we study reviews, we look for contacts. Negotiations, too, have turned into a series of correspondence, phone calls, and online meetings.
How do you negotiate and build partnerships for the long term? In the fast-changing pictures of our world, you want to build trust and sustainable business relationships.
So you have found a supplier. You are about to have your first video negotiation with Zoom, Skype or Google Meet. What's the best way to prepare for them?
How do you negotiate and build partnerships for the long term? In the fast-changing pictures of our world, you want to build trust and sustainable business relationships.
So you have found a supplier. You are about to have your first video negotiation with Zoom, Skype or Google Meet. What's the best way to prepare for them?
Information
Being prepared and informed is a huge advantage in any negotiation. Find out as much as you can about the supplier and their products. Compare their prices with those of their competitors. Find out what level of service they provide to their customers. You need to be clear about what you want to achieve, what you can accept, what you can compromise on.
Lies and deceit
Deception, bluffing or falsification can do more harm than good in negotiations with a supplier. Lying is unethical. Of course, you can't be too careful; you don't have to show all your cards. Bargain, make real arguments, put proven arguments forward.
Don't talk about topics you don't want to talk about, at least not at the beginning of the negotiations.
Show your potential
If this is your first negotiation with a potential supplier, it is likely that he knows little about you and your business. Give a brief introduction about yourself, your plans and your prospects.
The dropshipping business model allows the seller to host the supplier's goods on their website and sell them directly from their warehouse. Decide how or with which systems the dropshipper can track the availability of goods in the supplier's warehouse. Document the resolution of disputes over logistics, product quality, certification and replacement.
What do you want
Your goal is to get a suitable price, favourable payment terms, discounts and even exclusivity. Start the negotiations by describing your advantages as a partner, and then find out what you can expect and what incentives are involved in a possible partnership. Don't be afraid to talk about what you want. During negotiations, calls and correspondence, you should carefully negotiate the terms of delivery with your partners.
Being prepared and informed is a huge advantage in any negotiation. Find out as much as you can about the supplier and their products. Compare their prices with those of their competitors. Find out what level of service they provide to their customers. You need to be clear about what you want to achieve, what you can accept, what you can compromise on.
Lies and deceit
Deception, bluffing or falsification can do more harm than good in negotiations with a supplier. Lying is unethical. Of course, you can't be too careful; you don't have to show all your cards. Bargain, make real arguments, put proven arguments forward.
Don't talk about topics you don't want to talk about, at least not at the beginning of the negotiations.
Show your potential
If this is your first negotiation with a potential supplier, it is likely that he knows little about you and your business. Give a brief introduction about yourself, your plans and your prospects.
The dropshipping business model allows the seller to host the supplier's goods on their website and sell them directly from their warehouse. Decide how or with which systems the dropshipper can track the availability of goods in the supplier's warehouse. Document the resolution of disputes over logistics, product quality, certification and replacement.
What do you want
Your goal is to get a suitable price, favourable payment terms, discounts and even exclusivity. Start the negotiations by describing your advantages as a partner, and then find out what you can expect and what incentives are involved in a possible partnership. Don't be afraid to talk about what you want. During negotiations, calls and correspondence, you should carefully negotiate the terms of delivery with your partners.
Competitors
There is nothing wrong with telling a supplier that you are negotiating with a competitor at the same time, or are about to do so. Do not disclose any prices or other confidential information. You can prepare analyses and benchmarking of competitors' performance so that the new partner can assess the potential of your online shop.
Take your time
If you are not happy with something and the negotiations are not going the way you wanted, end it gently, take a break. Such a pause is often tactically advantageous - a partner who does not want to lose a profitable contract may offer you better terms and prices after a while.
Rehearse
There are very few born negotiators. It takes time to learn the art of knowing when to speak and when to remain silent. It is important to recognise your interlocutor's facial expressions and read their body language. Hone your skills, prepare in advance, plan your conversations carefully, practice and rehearse if you feel unsure. Most successful improvisations are well-rehearsed preparations. Demonstrate your competence and remember that your goal is to win the negotiation and not to lose your position, to establish a strong and trusting relationship with the supplier.
Daehan Trading Co. Transaction Criteria
Daehan Trading prepares customers for 'zero', initial and final negotiations with suppliers of goods, and conducts negotiations on their behalf. The screening of a possible partner of interest to the customer is carried out according to Daehan Trading's specially developed methodology for evaluating transaction criteria. Daehan Trading's salespeople analyze the competitive environment, research additional information, understand the nuances, and make calls to potential buyers.
There is nothing wrong with telling a supplier that you are negotiating with a competitor at the same time, or are about to do so. Do not disclose any prices or other confidential information. You can prepare analyses and benchmarking of competitors' performance so that the new partner can assess the potential of your online shop.
Take your time
If you are not happy with something and the negotiations are not going the way you wanted, end it gently, take a break. Such a pause is often tactically advantageous - a partner who does not want to lose a profitable contract may offer you better terms and prices after a while.
Rehearse
There are very few born negotiators. It takes time to learn the art of knowing when to speak and when to remain silent. It is important to recognise your interlocutor's facial expressions and read their body language. Hone your skills, prepare in advance, plan your conversations carefully, practice and rehearse if you feel unsure. Most successful improvisations are well-rehearsed preparations. Demonstrate your competence and remember that your goal is to win the negotiation and not to lose your position, to establish a strong and trusting relationship with the supplier.
Daehan Trading Co. Transaction Criteria
Daehan Trading prepares customers for 'zero', initial and final negotiations with suppliers of goods, and conducts negotiations on their behalf. The screening of a possible partner of interest to the customer is carried out according to Daehan Trading's specially developed methodology for evaluating transaction criteria. Daehan Trading's salespeople analyze the competitive environment, research additional information, understand the nuances, and make calls to potential buyers.
602, Yeongdong-daero, Gangnam-gu, Seoul, Republic of Korea
