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How to successfully negotiate cost price increases

Are cost price increases keeping you awake at night? Whether you’re a buyer or seller the cost of everything is increasing and you could do with passing on your pain. Availability issues, inflationary pressures, Covid challenges and Brexit are all contributing to a perfect storm which is impacting businesses like yours. The last 2 years have been tough to say the least and the need for robust negotiation skills has never been greater.

cost, influencing, negotiation, planning, price

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Is your business prepared for the unexpected?

My first boss said those words to me on the fifth day in the job.  It was great advice and has remained with me ever since; I refer to him and fall back on those 3 words a couple of times a week.  Had he still been with us he would have been greatly interested in the way things are unfolding in Eastern Europe and in particular Ukraine.  Doubtless he would have been returning to his mantra on a daily basis.  Of course, saying ‘expect the unexpected’ is one thing, it’s what you do about it that matters. 

culture, influencing, negotiation, negotiation training, Preconditioning, pressure

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Negotiate like Michelangelo

When you are in the nitty-gritty of planning your next negotiation, you need to think about your opening position(s). How far should you go? If you’re selling, should you open higher than you know they can agree to? And vice-versa if you’re buying. This means that you would have to move from your position until you find the point at which they can agree.

anchoring, negotiation, planning, tactics

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Don’t take ‘no’ for an answer

Photo by Matt Wojtaś on Unsplash

Here’s a great story about how one of the biggest sports clubs/franchises in the world was born. But for non-football (soccer) fans, don’t worry, the story is not about football. At its heart is negotiation, a father’s love for his daughter and a man’s love for his dog – which was trumped only by his love of his team.

dog, football, negotiation, sport, tenacity

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Negotiating Remotely

Negotiating from home

“Be alone, that is the secret of invention; be alone, that is when ideas are born”                                      Nikola Tesla

Working from home has become the norm for many millions of people over the past weeks and months. There are a great many positives, but it is often all too easy to focus on the negatives – the current climate may make it feel hard, if not impossible, to advocate for yourself.

foresight, negotiation, planning, Preconditioning

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