What Female Business Owners Need to Know
As an entrepreneur, there will be many times in your career when you need to negotiate, whether it’s with an investor, vendor, or employee. Negotiation skills are built the same way as any other skill – through practice. Although women are naturally gifted with many qualities that make them great negotiators, for some, it can seem like an uphill battle. Take a look at these tips for the next time you’re on negotiating grounds.
Understand who you’re doing business with
The same negotiating technique won’t work with everyone you need to compromise with. The first thing you should do to get a step closer to negotiation success is to know who you’re dealing with. It’s essential that you understand their background, interests, and motivation. Doing your homework can make a real difference.
Don’t be afraid to speak up
Women can often feel like they’re stepping out of line if they speak up – but this is an old way of thinking. Never allow that to make you feel obligated to remain in the background or stay silent.
Put things in writing
Sometimes someone’s word is not enough. If you agree with someone, push to get everything in writing to ensure you’re in the clear.
Allow yourself to walk away
You may not get everything you want in a deal. You may come across situations where it’s just best to walk away. There will always be more opportunities. Walking away might end up making the other party realize how much they actually want to work with you!
Building your business doesn’t have to be difficult. For more guidance on growing your own business, contact the Economic Development Collaborative. Conveniently located in Camarillo, California, we’re here to help.
