PREPARING FOR NEGOTIATION
If you are about to negotiate a transaction, and are eager to meet with the other party, here are some tips that you should consider.
- Never just launch into any negotiation because you feel pressured to make a deal. Preparation is always critical to success.
- Ask yourself what you really know about the other party including its reputation for honesty, performance and financial stability. Research its usual delivery time for its goods or services to see if they are good fit for you.
- Check out the other party’s quality standards. Agreeing to short delivery times may be disappointing if goods or services are rushed into production.
- Run a credit check, if possible, on the other party. If it has a poor credit rating it may also have creditors pursuing debt collection that could negatively affect your own dealings.
- If the other party is a stranger and comes across aggressively, be careful. You have no reason to trust a stranger. Trust is earned through experience. It isn’t automatic.
