Renegotiate For Resilience
As the economic implications of coronavirus become clearer it’s easy to see doom at every turn. But finding a way to work with your commercial partners to ensure mutual resilience is the name of the game right now.
Obligations. Every business has them one way or another. Whether it's the rent you pay for your premises, the hire purchase agreements for key equipment, or the salaries you pay your painstakingly selected employees.
Some of these obligations may feel like they have the potential to be terminal for your business in the new reality of lost revenue that so many businesses across all sectors are facing.
However, let us remember that for every obligation your business has to cover its overheads, there is another party on the other side of that agreement. Stop for a second and think about things from their perspective. If they experience non-payment across the board.. how do their prospects look?
With these challenging circumstances comes the need to get creative and find ways to manage the risks and difficulties for all parties. Find solutions for mutual resilience.
The tool of negotiation has never been more important. This time, right now it’s less likely to be about maximising the deal on an exciting piece of new business. This time it may well be about using creative, collaborative and cooperative negotiation and re-negotiation strategies to ensure mutual resilience and long term prosperity.
There are no rules in negotiation; anything is possible. With a creative mindset and careful planning and execution of a strategy, your business and your partners will be able to find breathing space you may not have thought possible.
BreakPoint Black is talking to many of its clients right now about negotiation strategies that can be designed and executed to achieve solutions which maximise resilience for all parties.
If you would like to talk, we would love to help. Our team of consultants bring years of experience and negotiation knowledge that can help you find a way through your obligations.
Please get in touch at email@example.com