Negotiation is key in the life of every entrepreneur, particularly sellers building an FBA business. During the Amazon offer negotiation process, nurturing a strong business relationship is especially crucial.
However, you’ll notice negotiation emerge at every stage of running your business from reaching agreements with suppliers to hiring third-party logistics providers.
Though negotiation is most obvious in a business setting, it comes into play in nearly every area of life. Whether you are setting up a date with your spouse, choosing a bedtime for your child, or even promising yourself a dessert after the gym, negotiation is in play.
1. Start with yourself:
Before meeting the needs of your customers, ensure you keep up with your own. As an entrepreneur, you probably have a great sense of ambition and a hunger for your goals. This is not necessarily a bad thing, but before you head into the Amazon offer negotiation process, you’ll do well to balance the demands you place on yourself. The first lesson in honing successful business relationships is giving yourself credit for your successes and learning to keep your entrepreneurial appetite working for you.
Later, as you work with others, take the time to check in with them just as you’ve learned to do with yourself. Staying motivated, and keeping others motivated, will increase the productivity of any relationship.
As a working relationship grows into a friendship, you may begin to relax and enjoy the vibe, but keep your eyes on your goals. Ask yourself what you might be assuming about negotiation and let go of these assumptions as needed.
If you need to reorient yourself in the Amazon offer negotiation process, or any other negotiation for that matter, consider the following:
- What are you taking for granted that has not been formally established in the relationship?
- Could you be more considerate of the other party’s expertise?
- Are you overestimating the importance your business has to the other party?
Assessing your own assumptions is the first step towards gaining better judgment during the Amazon offer negotiation process, as well as negotiations in every business context.
2. Be the one who offers first
When you take initiative and make the first offer, this is called anchoring and it sets you up as the dominant individual in the negotiation.
Even if the other party responds with a different offer, you have subtly established the standard by speaking first. The offers that follow will be unconsciously considered in light of the one you made first. This can work in your favor.
This can impact the dynamic in your favor, even when the other party might have seemed to have the upper hand. The concept of alpha in an interaction might sound primal, but keeping the idea in mind has benefits.
If someone else beats you to the punch and makes an offer first — thus anchoring the discussion — it’s not too late to take back control. At this moment, be confident in establishing what you want from the interaction, without becoming distracted by the standard the other party is setting
3. Listen to your negotiation partner
Remember, you already know what you know. When another person speaks, you gain information that you don’t have. Taking the time to listen provides the opportunity for you to see their hand, and act accordingly. The other person will most likely feel heard and this develops trust in the relationship.
By listening actively, you are more likely to discover the other person’s motives. This can give you the chance to wrangle a better deal, whether you are in an Amazon offer negotiation process, or any other.
Allowing the other person to speak can also reveal their concerns, and give you the opportunity to address them. This can be a win-win situation as you craft your demands to fit with their needs.
No matter what angle you take, negotiation is an inevitable part of the life of an entrepreneur, so honing your skills as a negotiator can only improve your business.
Amazon Negotiation Process
When facing an enormous entity such as Amazon, you may feel outmatched in the negotiation process. In reality, Amazon does have advantages when you face them, but that doesn’t mean that you can’t apply savvy negotiation tactics that impact outcomes.
For example, Amazon might not reinstate a removed listing simply because you demand it. However, if you use the encounter with Amazon to find out more and propose a solution that works for both parties, you may reach a happy conclusion faster.
Remember, Amazon’s ultimate goal is to put customer satisfaction first. When you can meet them in this goal by showing them your route to keeping customers happy, everyone wins.
When facing an issue such as a suspension, get to the root of the issue by sharing other listings and asking what they are doing right.
During the Amazon offer negotiation process, any opportunity to gain information is an opportunity to craft a business that can succeed within Amazon’s perimeters.
Suppliers and third party logistics providers (3PLs)
Beyond your interactions with Amazon, and the Amazon offer negotiation process, you will also likely negotiate with suppliers and potentially with 3PLs (third-party logistics providers). Approaching suppliers is a more traditional business negotiation but still filled with opportunities. Whenever you make contact with your suppliers, you have the chance to negotiate the costs and terms of your relationship, much like the Amazon offer negotiation process.
Unlike interactions with Amazon, your negotiation process with suppliers may feel more like a meeting of equals. This means an opportunity to reach for the upper hand and reap the rewards for your business.
Investors or acquirers
Interacting with investors or acquirers is exciting, and high stakes. When you’re taking your business to the next level or getting another party involved, it’s time to share your business in the best light.
Remember that the best deals are the ones that benefit everyone. Show your potential investors or acquirers that you can move forward together with success, and they’ll begin to share your vision.
GETIDA focuses on results as you grow as an entrepreneur. When you face negotiations with investors or acquirers, keep in mind all the elements you learned during the Amazon offer negotiation process.
Continuing skills development
Your evolution as a business owner is never over, and continuing to hone your negotiation skills is part of that. Reflect on the ways you apply your new negotiation knowledge in every area of life.
Whether formal or informal, using tools of persuasion can improve your standing in many situations. Beyond the Amazon offer negotiation process, becoming a master negotiator has endless benefits, and can lead to win-win outcomes for everyone.
The best way is to begin applying the methods you’ve learned. With continued practice, expert negotiation skills will become part of your business repertoire.
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