How to Negotiate Better Deals During a Crisis – Saving money smartly #StrategySeries 85

 

Business Strategy Series -085

How to Negotiate Better Deals During a Crisis – Saving money smartly

In times of crisis, every cost counts. Whether you’re running a startup, a growing business, or managing a team, knowing how to renegotiate deals can mean the difference between staying afloat or shutting down. But negotiation during tough times isn’t about desperation—it’s about strategy, empathy, and timing. When approached wisely, even crisis negotiations can lead to stronger relationships and long-term savings.

Crises force businesses to think leaner and act smarter. Vendors, partners, and service providers are also affected and may be more flexible than usual. Here's how to approach deal-making strategically:

1. Reframe the Conversation:
   Instead of diving in with "I need a discount," open the door to collaboration. Ask, “What can we do together to make this work for both sides?” This positions you as a partner, not just a cost-cutter.

2. Use Timing to Your Advantage:
   A crisis naturally brings urgency and pressure on both sides. Vendors may prefer renegotiation over losing a client. Strike while the need for mutual support is highest—but always approach with respect.

3. Show Your Value First:
   Highlight how you’ve been a reliable customer—on-time payments, large orders, or long-term loyalty. If this is your first negotiation, show the potential value you bring in the future: referrals, bulk orders, or long-term commitments.

4. Offer Flexible Solutions:
   Not every negotiation has to result in a lower price. Propose alternatives like:

   • Delayed payments

   • Temporary discounts

   • Volume-based pricing

   • Swapping services
     These solutions can help both sides win without financial strain.

5. Think Long-Term, Not Short-Term:
   The best negotiations strengthen relationships. Don’t just focus on short-term savings. Propose deals that benefit both parties in the long run—this builds trust, reputation, and better terms in future dealings.

6. Put It in Writing:
   Even if it’s a temporary change in terms, make sure everything is documented. This avoids confusion later and ensures accountability.

Conclusion:

Negotiating during a crisis isn't about taking advantage of the situation—it's about surviving together. By approaching the table with a collaborative mindset, clarity, and respect, you not only save money smartly but also strengthen your business relationships. Win-win solutions last longer than one-sided victories.

Question:

Have you ever turned a tough situation into a stronger business relationship through smart negotiation?

Protip:

In every negotiation, aim to protect the relationship, not just the price. The way you handle hard conversations now will define how people work with you in the future.

Quote:

"Never let a good crisis go to waste." – Rahm Emanuel

Discover us more👉Click here

Check out our Medium👉Click here