Are you involved in a hardware, software or idea-based business that thrives on constant change? If so, here are some tips that may be helpful the next time you set out to negotiate a contract.
- One of the variables in negotiation is ‘values’ even though they are sometimes overlooked in pursuit of profit. All too often negotiation is reduced to an exercise in establishing cost, selling price and timing of delivery.
- In any business that markets change, creativity is a critical component. That’s because creativity is a ‘value’. It may be difficult to price, but it should be a central part of your discussions.
- When you prepare for negotiation, you should reflect on your own business culture and the other party’s as early as possible to ensure that at least they match up, and at best they complement each other.
- For businesses like yours, creativity is the factor that allows you to develop your products. Doing business with someone that doesn’t share your business culture is likely to throw up obstacles which may be non-negotiable.
- Remember, dividing and allocating tangible property can always be negotiated. Values, which are intangible, cannot.