- November 25, 2021
- Posted by: BCCI-Editor-M
- Category: Blog
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Weekly Business Tips With BCCI’s Councilor Jody Williams
JW’s Biz 101-005
In business, being too agreeable can be a limiter or a disadvantage. Here is why–
- Business is about negotiating, but how can we negotiate a better deal if we say yes to everything?
- Business deals can be based on verbal or written contracts, but being too agreeable, we might end up with one-sided contracts, not in our favor.
- Trying to charge a premium price or make a better margin or mark up for your product or service? Being too agreeable can land us in hot water when other parties try to beat down your prices as low as possible or affect margins.
And the list can go on…
In business, it should be a win/win situation for all parties involved, whether it may be a buyer-seller deal or supplier and client business relationship. We may be agreeable most of the time, but it has to be strategic. There will be certain parts that we may disagree with, and we must communicate them strategically. Here are some tips.
- Always thoroughly review every document point by point before signing or agreeing. If not sure about something, take the extra time to review it with your team or even your lawyer. Try to get the additional days to clear up any doubt, especially with sales agreements and customer contracts.
- Do not rush the brush. Even if we are aggressive in our sales strategy to gain a big client or market, don’t rush the process. An overview, research, and feedback are vital; limited research and review can lead to a one-sided business deal.
- Be stern and stand your ground when a party or person is trying to pressure you with something not in your favor.
- Be patient and frank in communication and have a backup plan. There are times we can say “No” eloquently, for example, “Sorry but due to the uncertainty of the supply and distribution chain, we cannot work with lower prices; however, we can offer a value-added service to benefit you”. While saying “No” to one thing, you also offer something else of value to your prospect.
- Don not be too anxious or be too desperate for a quick “seal the deal”. The other party will sense it fast and will try to capitalize on it.
- Clear communication is a must at all times. If you cannot offer a better price, say it right away and do not wait. If you can only work with a five-year contract agreement or less, list it and say it too.
- Consult with your team, lawyer, or business associates to get meaningful feedback on possible contracts, agreements, etc.
The bottom line is that we may be agreeable in our everyday business, but sometimes being too agreeable can hamper progress. Be clear and focused on your objectives and be ready to enforce them even if it means saying “No”.
