Negotiating Strategies For Small Business Owners

Small businesses should be interested in practical strategies that will help them

to cut their operating costs, reduce business debt and decrease commercial financing expenses. These are all critical financial goals for any small business owner. If a realistic negotiation strategy could accomplish improvement in all of these important areas, why would a company fail to act?

One reason is a lack of belief in negotiating as a sound management tool.Perhaps a small business has tried using negotiations as part of their management process and was unsatisfied with the results. While this is not a likely scenario, some small businesses might feel that they do not have any obvious practical use for negotiating. This leads to a second and related explanation.

Another factor to explain a general failure to negotiate is the absence of adequate skills. This is a difficult obstacle to overcome because (1) it is uncomfortable for many individuals to admit to themselves and others that they are not capable of doing something, and (2) it is frequently not obvious what particular skill is missing. In the latter case, it is like a scavenger hunt in which the list of items to be found is written in invisible ink.

A third element behind negotiation strategies being missing in action is a lack of sufficient time. This particular problem is not unique to negotiating as a typical small business owner often has more critical tasks to accomplish than their time permits. If this is the primary rationale for overlooking the use of negotiating strategies, some attention to time management might be necessary.

A fourth issue can be described as an unwillingness to use outside help. Negotiating is usually somewhat specialized to begin with, so it would not be unusual for some small businesses to rely on a business or financial negotiating expert as a primary business solution. But if any of the first three reasons noted above are applicable, a prudent alternative would be to bring in a business negotiating expert. However, resistance to employing experts from outside the company will effectively act as a barrier to this logical approach.

Once these obstacles to business negotiations are overcome, small business owners can focus on successfully applying business negotiating strategies in the target areas which are most likely to improve the financial health of their company. For most small businesses, there are five to ten key possibilities where the biggest payoff can occur.

by: Stephen Bush

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