Small business agony uncle James Caan discusses how to get the best deal when negotiating with a client.
Dear James:
I own a recruitment business. What do you advise on negotiating with a client to close a deal?
Kathy
James says:
Many people don’t feel comfortable negotiating.
The first thing to do is embrace it as an opportunity. If you treat it like a fight, you won’t get the results you need.
Negotiation brings you many benefits - as well as increased margins, you will gain respect in the market place, have the chance to build long-term relationships and gain repeat business.
When planning your negotiation, know what you are looking for and where you will draw a line. Picture all the scenarios that could come up, and think of a plan for each. Your knowledge of the client and the market has to be flawless. If you want to gain their trust and business, show them you have done everything to understand their needs and the environment in which they operate.
When recruiting for a client, a consultant at one of my recruitment firms looked at its competitors and spoke to people who worked in the position the client was recruiting for. The firm was amazed by how much she had discovered about the market and now trusts her to source the best possible candidates.
You must be honest and upfront with your clients as this will leave you feeling a lot more confident but always remember that if you can go the extra mile, you will gain their trust and respect.
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