The Simple Negotiation Lesson That Could Save Your Business Millions

??Are you ready for a game-changer? ??

First, let’s warm you up with a question.

Imagine your dream car. Have it in mind? What colour is it?

Now, picture this: You spot your dream car at a dealership for ￡36,000.

What’s your next move? Do you:

• Accept the price.
• Ask for a deal.
• Firmly offer ￡30,000 in cash, stating it's your final offer.

The ensuing negotiation is a test of resolve.

You propose ￡30,000, ready to pay now.

The salesperson hesitates, insisting on ￡36,000.

Do you relent, or hold firm?

Suppose you hold firm.

The salesperson consults their manager and returns with a new offer: ￡34,000.

Is that tempting enough?

Or do you maintain, "I really wish I could, but I simply can't."

After a moment of silence, the salesperson tries again, returning with an offer of ￡32,500, even providing a slip that says, "YOU WIN."

What do you do take it – that’s 10% off.

Or do you stand your ground?

Let's stand our ground!

Off goes the salesperson again, he finally comes back and says ok ￡30,000 (17% off). And you take it!

So, what's the takeaway?

Patience and negotiation can unearth deals. Knowing the true value is key, in this case ￡30,000.

How does this translate to your business?

Your direct costs may be well-managed, but indirect costs often hide savings opportunities, obscured by less transparent market prices.

Imagine applying this negotiation resilience across all your costs.

You're faced with three choices:

1. Equip your team with negotiation prowess and give them the book "Never Split the Difference" by Chris Voss, a former FBI negotiator - and also the person buying the car above - the story taken from his book.
2. Remain as you are, potentially losing your business profits.
3. Collaborate with specialists like ERA. With over ￡11bn managed across 15,000+ projects, we're experts in knowing what the right suppliers and the price you should be paying for your indirect costs.

What difference could the right approach mean to your bottom line?

The real question is bigger than savings; it's about unlocking your business's profit potential through strategic negotiation.

If you would like to learn some more about how we help our clients unlock hidden profits, then please drop me a message.

And if you're looking at the next 10 months and wondering how to square the circle, then I'm hosting a LinkedIn Audio Event 1pm-2pm on Wednesday March the 13th.

I will share my insights to ensure you're making the right moves to outperform expectations in the sluggish economy.

Click on the image below to ensure you don't miss out.