Episode 56If you are at the stage of your e-commerce business where you want to talk with suppliers, this episode is for you. Today, Ken and I will drop a lot of golden nuggets you can pick up to turn into a pro negotiator. Based on our experience, negotiations don’t have to be purely business-related. After all, you’re still talking with people who are only living within a different culture and working with their own set of goals. Let’s dive right in and learn how to negotiate with suppliers like a pro!![00:01 - 02:33] Opening SegmentWe introduce our topic for todayWatch out for a book review![02:34 - 09:45] Don’t Split the Difference...EverHere’s an e-commerce tip you can apply to your everyday life!Let the people you’re negotiating with pick their destinyHow will suppliers respect you?Ken explainsAsk the supplier’s preferred mode of communicationFaster and better responsesWhy ask the supplier of the minimum order quantity?When should you accept the first offer? [09:46 - 19:51] Ensure Quality of Products Always ask for tiered pricing related to volume ordersGather quotes from several suppliersDavid shares the benefits Why you should ask for a shorter lead timeDavid tells us to look for areas of mutual gain Want some Amazon refunds? Check out GetidaPromo code: FTM400Ensure the quality of the products Ken explains how Build an authentic connection with the other side [19:52 - 29:57] Be Respectful and KindKen talks about the power of negotiation and leverageDavid gives his insights about tactical empathy Here’s a tip from Ken about ghosting you don’t want to miss!Amplify positive emotions with your suppliersPeople appreciate the little thingsWhen should you ask for a discount or extra units? Treat suppliers with respect and kindness What are “black swans” and why should you look out for them? [29:58 - 32:35] Closing Segment Express your desire for a long-term business relationshipDo you have negotiation tips you want to add? Get in touch with us! Link below. Final words Tweetable Quotes:“Price negotiation should be treated like a house purchase. Never accept the first offer put on the table.” - David Schomer“Relationships are crucial…At the end of the day, [your suppliers] are people.” - Ken Wilson Resources Mentioned:Book: Never Split the DifferenceWorst Experience Dealing with a Supplier - Firing The Man PodcastGot a negotiation tip you want to share with us? Go to https://firingtheman.com/contact-us/ ------------------------------------------------------------------------------------------FacebookYouTubeInstagramEmail us --> [email protected] to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

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