In the course of your career, you are likely to perform many duties that were not explicit in the job description at the time of hire. If you are an entrepreneur, you are probably quite familiar with the concept of wearing many hats in your business.
Negotiating business agreements is one of those tasks we don’t think about when launching our professional lives, yet it comes up quite often. As an entrepreneur, you are constantly negotiating agreements with clients, even in the most straightforward sales exchange.
As a corporate professional, negotiating agreements can occur internally with leaders of various business units. Negotiations will also occur with external entities, including clients, strategic partners, third-party vendors, and suppliers.
Understanding what is involved in a business negotiation can make you a savvier professional or business owner, becoming skilled in delivering cost savings, mitigating risks, landing big clients, and generating more revenue.