WHO HAS THE POWER IN NEGOTIATIONS?
1 Aug 2009
When I ask this question in a Master Class, almost without exception, people say the buyer has all the power. That is simply not true. The person who has the power is the person who thinks they have the power and just because you are the seller does not mean you do not.
The buyer is not usually going to waste their time negotiating with you if they do not have any interest in your product or service; and you do not have to sell to them if you choose not to. They cannot possibly be the only customer left on the planet. I have often refused to work with a client because the price they were offering was too low, their terms were unacceptable and for various other reasons; and sometimes just because I did not like them and simply did not want to have to see them regularly.
So who has the power? It is the person who thinks they have! And when you think you have the power, your whole attitude to the negotiation process changes to your advantage.