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(DAY 109) Negotiating service based business deals

· 2 min read
Gaurav Parashar

Today, I was trying to close a business deal with one of the biggest coaching institutes in India for design-related courses. I was prepared for a challenging negotiation process as the founder is sharp and tough, who is known for his Gujarati shrewdness and skilled negotiation tactics. While it may seem daunting, understanding the founder's negotiation style and employing effective strategies will hopefully lead to a successful agreement. Additionally, I note down the importance of maintaining professionalism and providing exceptional service in the face of tough negotiations.

The Founder: A Sharp Gujarati and a Tough Negotiator

The founder of this prominent coaching institute is widely recognized for his sharp business acumen and tough negotiation skills. Being a Gujarati, known for their astute entrepreneurial spirit, he approaches negotiations with a strategic mindset and a strong focus on maximizing his interests. He skillfully layers his negotiation tactics, continuously threatening to jeopardize the deal if his conditions are not met. It is crucial to be well-prepared and equipped with effective negotiation strategies to navigate through his tough negotiating style.

Strategies for Successful Negotiation

Focus on Mutual Benefits

I tried to emphasize how the proposed partnership will benefit both parties. Demonstrating a win-win situation is crucial for a successful negotiation in service based deals.

Prepare for Counterarguments

I tried to anticipate the founder's negotiation tactics and objections. I tried to give well-researched responses and was prepared to justify my terms and conditions.

Be Firm, Yet Polite

Standing my ground on important aspects of the negotiation was crucial, but I always tried to maintain a polite and respectful tone. I hope this help preserve the relationship and foster a more collaborative environment.

Negotiating a business deal with one of the biggest coaching institutes in India can be a daunting task, particularly when faced with a sharp Gujarati founder known for his tough negotiation style. Remember, negotiation is an art, and practicing effective strategies will help us secure a favorable outcome while preserving a healthy business relationship. If it worked, only time will tell.