Business negotiation is a world of contradictions. You’ve got to be firm but flexible. Open and sharing, but a little cagey. There’s a lot to get your head around. But your state of mind might be the most important thing. Aim for a mutually beneficial outcome and you’ll find the whole exercise more comfortable. Follow these five tips to prepare for your next negotiation.
1. Do your homework
Before starting business negotiations, always do your research. You should come to the table understanding as much as you can about the company you’re dealing with – and the industry they’re in.
Cloud-technology is rapidly changing the way we do business. It’s making previously expensive technology affordable and accessible to anyone with a mobile phone.
Now your business, no matter what size, can have a state-of-the-art, easy-to-use staff scheduling and time-recording system. It’ll save you hours of admin, improve staff engagement and help you get the most from your spend on wages.
Five problems with paper-based time tracking and scheduling
Paper-based systems can get the job done, but they’re far from ideal. They slow you down, introduce errors and distract people from their primary job.
“In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” - Mark Zuckerberg
Getting back into work after a break can be hard.
You might be struggling to get back into your routine and engage your brain in work. Or, perhaps you spent time setting your goals and planning your year and you’re full speed raring to go. There is, however, an optimum approach somewhere between these two scenarios - we call this hitting ‘The Performance Zone’.
The ‘Performance Zone’ sits between the ‘Comfort Zone’ and the ‘Danger Zone’.
It’s easy to hang out in your Comfort Zone. We just keep doing what we’ve always done b...
Handling business expenses manually is inefficient
Traditionally, business expenses are done manually at the end of the month. Employees list their expenses, allocate receipts and codes to each expense, and submit the list for approval.
Often a bookkeeper or accountant is involved. And payment or reimbursement typically happens weeks after the original expense was incurred.
Many companies still process their business expenses this way – but it’s inefficient. There’s a lot of handling. It takes time. Employees wait around to be reimbursed. And you don’t have a clear view of cashflow.
Getting an automated business expense reporting can solve these prob...
If you’re about to start working with a larger company keep these B2B tips in mind.
1. Don’t over-promise
Many small businesses are tempted to go beyond their core competencies to win a big contract. Avoid that if you can. Focus on delivering only the things you do really well. If a prospective client asks you for related products or services that would overextend you, suggest they bring in additional vendors.
2. Be prepared to adopt their systems
You’ll probably need to change the way you work to fit with your client’s internal systems. This can take many different forms. For example, you may have to:
In today’s rapidly changing landscape, businesses of all shapes and sizes are working together. It’s no longer the case that big companies only do business with other big companies.
The democratization of technology, better access to lending and a global market for talent mean that your business can find clients anytime and anywhere. So you’ve every chance of landing a big client. This can provide your business with many advantages.
Big B2B can take you to the next level
Revenue and cashflow
Bigger clients often come with bigger budgets. And while they can be slow to pay, you know they eventually will. It ge...
The cloud is where you put all your data, all your files and even your software so you can access it all from any computer or device, anywhere, at any time. See the difference the cloud can make in how you work, bank, communicate, sell and buy.
Traditional banking vs internet banking
It used to be the case that your financial data was only available to you when you were physically at the bank. With internet banking, your financial data is available online in the cloud. You can access it anytime, anywhere and on any device.
Traditional mail vs web mail
Traditionally, your correspondence was only available at the pos...
Successful businesses really understand their customers.
Knowing your target audience is half the battle when it comes developing successful marketing activities.
When you understand the specific characteristics and needs of your customer base, you can deliver your solution at the right price, in the right place and in their language.
Learn more about your customers and you will be ahead of your competition in no time. This will save you time and money in the long run. It’s about going slowly now to go quickly later. By answering the following questions, you will be able to both identify and unlock the potential of your customers.
Access to the internet is a business imperative to connect to customers, transact business and network across geographies and industries. Likewise, a concern for individuals and companies operating online is keeping sensitive data and information secure from cybercriminals and hackers.
Supporting customers with security
The day to day impact of cybercrime has become a fact of life and a permanent reality for businesses. So, it's important for small businesses to take precautions to keep data safe from hackers. Just as a hospital is charged with protecting patient security, businesses operating online need to take measures to ensure customer data is safe.