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Advice for the Entrepreneur: Lee’s Tip #236

Lee's Tips,Seller Resources

I am invigorated by negotiations and think of them as opportunities, not something to dread. Here are my top 2 tips for going into a negotiation with a sense of control. The key is preparation.

  1. Rule #1: Go in prepared to show them (a) that you understand their needs and (b) how you can fill those needs.
  2. Rule #2: Be prepared to walk away. Actually visualize yourself saying, “For this project or item, I cannot give you this price.” Know in advance the LEAST amount you are willing to take, and be realistic. That way you know exactly when and if to walk.

Good luck! You’ll have many opportunities to use your in-control negotiating skills.

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