To better adapt to today’s “new normal” world, small business owners, entrepreneurs, and individuals are fast wising up to online business. As a result of the COVID-19 outbreak and subsequent hard lockdown restrictions, many businesses have had to pivot their operations and offerings towards a more dominant online strategy. However, there are many common blunders in this way of doing business, as deals could fall through the cracks as fast as it takes customers to click on a link.
Online Negotiating Skills.
Online negotiating skills have become an essential skill for doing business in today’s world, and anyone can benefit from having these skills if they’re ready to give up old habits and learn some new tricks.
It’s vital for business owners to adapt to doing business online. If business owners fail to use this time to rethink and optimise their deal-making tactics to fit in with the new business environment, primary method of communication and engagement, they may begin to lose their competitive edge. The world’s evolving, new digital marketplace offers business owners almost-countless opportunities to utilise accurate data and insights. To keep up with their competitors and peers, business owners have to take the time to learn how to use these new tools. Furthermore, it’s also wise to consider picking up the phone more, as many people have and will continue to grow tired of endless video meet-ups.
Many people make a mistake in believing that they can simply apply what they already know to the digital arena. However, they need to consider the added advantages of being able to manipulate the online deal-making environment, as the common interpersonal signals which are present in meeting rooms are absent in online settings.
A common mistake made by many business owners is that they do not realise that proper negotiations do not start and end with stressful deal-making, contact signing moments in a boardroom. Negotiation is at the core and is central to every stage of active business engagement, and this includes, making deals, managing them and mending them where necessary. When a business owner truly understands this, applies a win-win attitude and prepares him/herself for every possible outcome and question, they will be able to act with confidence and ultimately secure better deals.
Not only will you and your client win, but you’ll both make more money. It’s far too prevalent how much money is lost due to ignorance around the power of effective negotiation tactics.
Businesses around the world have wised up and brought fundamental design as to how they utilise the digital space for negotiations for more than a decade. Across the world, many corporate procurement companies have become notably savvy in their use of the many negotiation tools available, including e-sourcing platforms, conference calls and video calls – and they use them to exceptional effect to gain the upper hand on sales teams.
Many business owners have already made a conscious shift to better understand the best ways of negotiating online. However, what do small business owners and freelancers know about dealing online?
If an individual or business has always viewed negotiation as just a step in the sales or procurement process in the past, then one can almost be 100% that their approach to negotiation is not optimised.
Small business owners and individuals have to consider approaching how they do business differently, and from a position of power by moving away from the mantra of negotiating by default to negotiating by design.
Once you’ve achieved the above statement with success, you may find yourself more confident and persuasive in your negotiations as well as empower the person or business you’re negotiating with at the same time. Negotiation should be viewed as a currency, as many people often sell themselves short, then negotiate more with themselves as opposed to with their counterparts, give money away and quite simply, they don’t realise that they can achieve win-win scenarios in every business deal they do.