Businesses should know their 'bottom line' before entering sales negotiations
Negotiators should know what they want before talks begin
Firms should know exactly what they want from sales negotiations before talks begin, it has been claimed.
Many businesses will enter discussions with the aim of purchasing or selling an asset for the best price and one expert believes that key issues such as these must be considered nonnegotiable.
Bob Holdsworth, founder of marketing firm The Holdsworth Group, advised companies to make a list of their 'must-haves', with the rest of the issues up for negotiation.
He wrote on ezinearticles.com: "Anytime you walk into a negotiation you need to know your bottom line, the one or two things you absolutely must get from the negotiation to satisfy your business needs, financial needs or in some cases your ego needs."
Mr Holdsworth added that businesses should always wait for the other side to name their price first as a better deal can often be obtained in this way.