What is the easiest thing you can do today to improve your business? The answer: improve your negotiation skills! Use these simple tips to get ahead of the competition!
Thursday, October 30, 2014
Wednesday, October 29, 2014
Negotiation Tips - Kabir Kassam on Consulting
These tips will help you be the consulting equivalent of this guy!
Negotiation Tips
By Kabir Kassam
Consulting is no easy task. Especially if you don’t work for one of the big four, you are going to have to work hard even to get a company to consider your firm for a project. In this environment, it is easy for companies to lose sight of the big picture and crumble when presented with alternatives to a well designed fee proposal.
It has happened all too many times, a consulting firm turns in a proposal after careful consideration of where they can cut costs and save the company money while still ensuring the project is a success. The company calls the firm back and beings negotiations and, what happens? The firm caves immediately out of fear that the company will turn elsewhere if the firm stands strong by its proposal. Things don’t have to be this way. Here are a few tips to help you negotiate and feel confident when you are in those tough situations.
You are the Expert
You have to remember that this company is struggling, otherwise,why would they be looking for consulting? If they didn’t need help, they would save the money it costs to get consultants and keep growing on their own. They need your help. That is the first big thing to remember when entering any negotiation. It is, in many ways, an even playing field. In some cases you can even have the leverage! So, trust in your firm’s skill and expertise and lean heavily on the value you know you can add during the negotiations.
Set Yourself Up for Success
When you place your bid, be sure you have already considered the places where you can cut costs yourself. That way, when the client goes to trim the fat, they can see clearly that it has already been done. This will build a solid rapport between your firm and the client. They know that you are an honest group and the working relationship starts off on the right foot.
Don’t Be Afraid to Walk Away
If a client is looking to decrease your fee by an amount that you know will affect the quality of work your team is able to provide, don’t risk the reputation of your firm by taking the job. Turning in less than superb work in this climate of competition is tantamount to declaring bankruptcy. Your firm will suffer serious negative effects if you do not perform at a high level and the client will suffer too. Explain this to the client and if they still do not meet you at a reasonable fee, don’t drop below your own standards. Respectfully walk away. It is ok to say no. Many times this is the very move that will show the company how strong your firm really is and convince them to work with you.
Follow these steps and provide confident, strong support for client companies and your firm will be well on its way to the top!
from Kabir Kassam - Versatile Business Consultant http://bit.ly/1tNwbUz
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