Negotiating Tip #34:
How Negotiating with a Long-term Partner Differs
MCN teaches the tactics needed for hard-nosed bargaining. We also teach that when you are getting into a long-term relationship with another firm, many of those tactics have to change considerably.
For instance, the rule when bargaining is: keep your mouth shut – the less the other side knows about you, the better. But a long-term relationship only works well if you share with the other side what are your needs and your assets.
Another important example is: what is your objective in negotiations? When bargaining with a supplier with whom you may never again do business, typically all that matters is price. That changes completely with a firm with which you will be working closely for years to come, where what matters most is finding ways you can work together.
So instead of being slow and stingy at offering concessions, when dealing with a long-term partner one wants to offer concessions that strengthen the relationship and build trust.