Upcounsel recently posted a blog article about how small business owners — including physician practice and ambulatory surgery center owners — can negotiate better with their service and supply providers.
The tips include:
1. Clarify objections: know what you want out of the negotiation before you start and prioritize your outcomes so you know where there is room for flexibility.
2. Do research: outcomes favor negotiators who are better prepared, so research the company and their competitors.
3. Know what you can cede: be prepared to give things up and be willing to negotiate on those points.
4. Have a plan B: if the negotiation unravels, have a plan B prepared to sit down and figure out the best way you can hold your bottom line so you're not scrambling if something goes wrong.
5. Know when to walk away: before heading into the negotiation, understand what points are non-negotiable and prepare to walk away if necessary.
6. Leave your ego at the door: the other side of the negotiating table needs to feel like they come away as a winner, just like you do.
7. Don't be intimidated: if you seem intimidated, you will have difficulty getting concessions during the negotiation but if you are assertive, logical and set an unemotional tone for mutual benefit, you are more likely to succeed.
More Articles on Practice Management:
10 Tips for First-Time Managers
4 Developments That Will Benefit Physicians in 2014
Successful Small Businesses: 8 Words of Wisdom From Entrepreneurs