/Solutions;/U/Blog;

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.

Learn the main terms and concepts they’re likely to use, so you’re not confused or intimidated by jargon. But if something comes up that you don’t understand, it’s okay to ask for clarification.
Familiarise yourself with their products or services, their industry, and their competitors. It’ll give you a sense of their strengths and weaknesses, and help you predict what’s negotiable. Social media is a great tool for this type of research.
Understand your position. It’s important to know what you bring to the table, and why they might prefer to do business with you. Money isn’t always the main factor. Perhaps you’re easier to work with because you’re close by or more responsive. Don’t be afraid to promote the things that set you apart.

2. Don’t be anchored

Being the first to say a number can be a good way to take control of a business negotiation. That first figure often becomes a reference point for the rest of the conversation.

Some negotiators will open with an extreme number – either very high or very low. They’re hoping the other party will be anchored by it.

If you find you have to move someone a long way from their original position – and that makes you feel uncomfortable – you’ve been anchored. It probably happened when you bought your first car.

This can be a confronting tactic, and it may not suit your style but – even if you don’t want to try it – you should be aware of it when someone tries to anchor you. If that happens, don’t feel awkward about saying you’re a long way apart. It’ll send the message that you’re not going to be steamrolled.

3. Know where you can compromise

As a small business owner, you may need the deal more than your negotiating partner. Be realistic about that. Don’t let your pride get in the way.

Decide what you need from the deal to make it worthwhile and be prepared to compromise on everything else. You can do this strategically.

Identify opportunities to give way on your least-valued terms and communicate it clearly when you do. Don’t whine about it – just make sure your negotiating partner can see you’re moving. They’ll be more likely to reciprocate with their concessions.

4. Aim for a win-win (be nice)

Negotiating isn’t about trying to dominate an opponent. This is business – you’re trying to find a profitable outcome that benefits everyone. Treat it that way.

A win-win mentality is scientifically proven to enhance business negotiations. When people are cooperative, their brains release oxytocin – a hormone that makes them trusting and sharing.

On the other hand, a person who’s losing an aggressive negotiation feels attacked, and their brain releases cortisol. This makes them negative and potentially resentful – which harms the chances for repeat business.

Always remember that both parties can win and don’t underestimate the power of being nice.

5. Have a plan B

What happens if you both walk away from the deal? Figure out what you’ll do if business negotiations fail and ask if you can live with that outcome.

This exercise will help you decide how hard you negotiate. If you don’t have a strong position, you need to be realistic about it from the start.

Having a plan B also means you can keep moving if negotiations hit a snag. You’re never surprised. But once you have a plan B – keep it to yourself. If the other party knows too much about your alternatives, they’ll know how much they can push you.

Practice makes perfect with business negotiations

Negotiation can be tricky, which is why many of us don’t like doing it. But if you have a small business, you probably can’t avoid it. Don’t be intimidated by it. You’ll find a negotiating style that suits your personality.

As long as you know the strength of your position and respect the other party, you’re off to a good start. After a while, negotiating will become second nature – and your business deals will be better for it.

Running a business without an office

It often makes sense to start a new small business from home, because it keeps costs to a minimum. But these days, some businesses continue to operate without offices even once they’ve become established.

Technology has made this a practical option. Ten years ago, the likelihood of finding public spaces with free wireless internet and power outlets was almost zero. Today most cities have them – in libraries, cafés and even on buses and trains. Casual-use shared office space is widely available for meetings and short-term work, too.

Mobile devices and cloud-based software have helped drive the change in working practices. For many small businesses, it now makes perfect sense to operate with no fixed office location.

Could it work for you? In this guide, we’ll look at the pros and cons of working without an office, with tips on making the most of this new and potentially liberating way of doing business.

A seven-point checklist to see if you could go without an office

Instead of traveling to work, technology allows work to come to you. For some types of business owners (especially those who don’t need to see their clients face-to-face on a regular basis), an office is no longer essential. Here’s a short checklist to see if your business could work without an office:

You mostly do business by phone, email, messaging and social media.
You run a service business or a ‘drop ship’ retail business, not a manufacturing business or a bricks-and-mortar shop.
You rarely see your clients in person.
Most of what you sell is digital, for example, software, graphics, words, photography, video, audio.
You don’t need large equipment to do your job.
You’re a good communicator.
You’re happy working alone.

Three benefits of a mobile office

People run businesses without offices for a variety of reasons. Here are three of the most common:

Not having an office can save you money
Office space can be expensive, especially for a new business. Furniture, electricity and internet access must all be paid for too. And as your business grows, your office would have to grow with it – which means relocation expenses. That money could be better spent in areas that directly affect the bottom line, such as marketing or hiring more employees.
Without a commute, you’ll save time
If you don’t have to commute to an office, you could gain an hour or more every day compared with people who do. Whether you use that time for work or relaxation, it’s a big benefit.
Fewer distractions increase productivity
If you manage your environment properly, remote working can increase your productivity. There will be fewer distractions and fewer meetings – making it easier to concentrate and think clearly about your work.

Where will you go?

For the office-less worker, there are many possible venues. Most ex-office workers need an internet connection and a power supply for a laptop or other mobile device – and not much else.

Home
The obvious place, with both advantages and drawbacks. Power and internet are already available and the commute is easy. On the other hand, working from home can cause relationship stresses and work-life imbalance. It can be hard to switch off at the end of the day when your home is your office.
Cafés
Many provide free wireless internet and power outlets to customers. They may not be happy if you buy a single coffee and stay there all day, though.
Libraries and other council buildings
Public spaces often have free or cheap wireless internet these days, and many allow visitors to plug in their laptops too.
Shared workspaces
There are many shared workspaces available, particularly in larger cities. They usually have flexible terms, so you only pay for the hours or days when you use them. Payment gives you access to printers and other office equipment, communal areas, internet, and power. They’re good for business networking too.
Hotel rooms
Expensive to use on a regular basis, but great for those times when you need to get away for a few days and concentrate on a big project with no distractions.

Think about meeting places too. It’s more professional to meet a client in a shared workspace or hotel lobby than in your makeshift office at home.

Use the right tools

You can’t work properly without the right equipment. But for many office-free workers that’s a relatively small investment:

Laptop/ computer
Unless you need a lot of processing power, a basic one will be sufficient. As long as it has an internet connection you can work collaboratively with people all over the world.
USB flash memory sticks or hard drives
Always keep backups of your work – and use encryption software to keep them safe.
Mobile phone
Make sure your clients can reach you easily. You can also use this for internet access if you can’t get free wireless internet.
Tablet
With a tablet, you can take advantage of the larger screen to work on the go – from anywhere.
Cloud or online applications
This is what’s really driving the office-free revolution. Everything you’re likely to need is available online, using cloud-based software.

Some of the more popular tools include Google Apps (such as Drive, Docs and Calendar). There’s also Evernote for keeping lists, Dropbox or Box to store your data and backups and Basecamp for collaborative project management.

Instant messaging software and video-conferencing tools such as Skype or Google Hangouts are essential if you’re working in a remote team. Make sure you get quality online accounting software too, which you can access anywhere at any time.

There are many clouds or online products available, so you should be able to find whatever you need to do your work remotely.

How to cope with the downsides

Working without an office has its disadvantages, but you can overcome them if you’re prepared. Here are some of the issues you may face, with tips on how to cope.

Avoiding loneliness
The first few weeks may feel liberating – you’re free from office politics, commuting, and unnecessary meetings! But humans are social creatures, so make new friends and acquaintances wherever you can. Don’t limit yourself to online contact – that’s not enough to keep you happy and sociable.
Staying in the loop
Office chit-chat can lead to the exchange of important business information, new ideas and new projects. Some office spaces are even designed to encourage this interaction. You’ll miss out on such conversations by not being there. Try to make time to meet your colleagues and work partners socially, perhaps after work on a Friday.
Getting new work
If you work on a freelance basis or as a contractor, then one of the best ways to pick up new work is to be physically present. You may only need to do this once a month. Visit your clients’ offices, talk to the people who commission you, and be friendly and professional. The next time new projects are assigned, you’ll be remembered.
Maintaining motivation
It can be hard to stay motivated if you’re not in an office full of working people. If you have a work deadline next week it can be tempting to take time off today. But that just increases your workload later. Learn to plan and schedule your work sensibly. And build up your willpower – it will help you succeed.
Meeting clients at the office isn’t an option
When you don’t have an office, you’ll need to utilise other spaces to catch up with clients. Some cafés will have relatively quiet areas for you to meet with clients – but bear in mind that you won’t always have complete privacy!
Finding the right balance
Office workers have clearly defined working days. They start when they arrive in the office and stop when they leave. If you don’t have an office then it can be hard to know when to switch off. Be disciplined about this. You’ll work better and more creatively if you find a good work-life balance.

Five important business negotiation strategies