Nitesco Exim Private Limited

In their own words

Negotiation is one of the highlights of being an entrepreneur and being “the boss”. This is where you can set the terms of your business and drive a hard bargain. Negotiating is a key part of any business from the trader at your local market stall, to multi-billion pound companies the world over. Hone your negotiating skills, be confident and a little charming and you can walk away with the deal you want. We’ve seen on Dragons Den how the dragons and the entrepreneurs will negotiate back and forth, sometimes quite intensely until the deal is done with both sides feeling great about the agreement. As an entrepreneur this is a great feeling, securing the deal you want and giving you more confidence going into the next deal. At every junction of your import export business, you’re going to have to negotiate. Once you’ve sourced your products, you’ll have to negotiate the price, the quantities, the samples and it won’t end there. When you approach buyers, you’ll have to negotiate the terms of the sale, the retail price, the wholesale price, minimum order, delivery time, exclusivity and the list can go on. Contract terms will also need to be negotiated. Import export negotiation techniques Buyers and Sellers seldom agree on terms and conditions of the contract on the first attempt. There are usually periods when both parties have to negotiate to reach an agreement. Before you enter into negotiations, you must develop an negotiating strategy. Here’s a few negotiation techniques to get you started. Negotiating becomes easier the more you do it. You’ll start to get an idea of how far you can push and what the other party will be willing to give up. As you do more and more deals with the same parties, you will be able to negotiate better deals and likely more quickly as an element of trust will be built. As the other party gains trust in you by paying your bills on time and living up to your word, you may be able to negotiate even better deals going forward as you remove their “hassle factor”.

Written by the company on its public Startup India profile. Not verified by us.

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