how do you negotiate a great deal this
is an important question because as
entrepreneurs we don’t have tons of cash
flowing out of our wallets flowing out
of our bank accounts you need to make
every dollar stretch right you got to
make every dollar you spend count
especially in the early days and part of
that comes from negotiating great deals
with your suppliers I got a great
question from one of my readers my olive
Seif who wrote in to say Evan what is
your opinion on the go shooting with
suppliers from anywhere on top of the
original offer thank you when I’m
negotiating I always look at the size of
the company if I’m working with a bigger
company I try to negotiate as much as I
can I try to get the best possible price
because at the end of the day they won’t
care so much about me but when I’m
working with a smaller company if it’s a
solo entrepreneur or a really small
outfit I tend not to negotiate too much
because I want to be important to their
business and I know and you should know
how important every dollar is to your
company do you like the clients who
negotiate you down to your absolute
lowest profit margin do you like those
clients probably not so why would you be
that client to other people I like my
suppliers especially the small ones to
care about me I wanted to be one of
their favorite customers and to do that
you have to pay them so that they’re
gonna make a profit off of you that’s
part of business I’m not gonna overpay I
don’t want you ripping me off but I want
to make sure that you are profitable
from working with me now if you’re a
bigger company again I’m gonna take you
for as much as you can
here’s a quick example a big company
came to me and they want to do an event
with me so I had my regular right
typically for an event depending on what
it is I’ll charge between 1500 and 2500
bucks and when it came down to creating
the budget they said you got to talk to
this guy who helped bring it on and I
spoke with him and he’s his own business
he’s that he’s a small entrepreneur he’s
a solo guy and I told them on the phone
listen you know what I usually charge
1500 to 2500 bucks for this but I
understand that this is now coming out
of your pocket this isn’t coming out of
the big company’s pockets come out of
your pocket
I’m gonna build a relationship with you
and I’m gonna do it for you for free now
I get some exposure from it
from being part of it and maybe we can
build a long-term relationship together
that might work with that bigger company
but I don’t want to take that kind of
money out of an entrepreneurs pocket
doesn’t feel right to me if it’s a big
company I have no problem doing it but a
small entrepreneur solo guy trying to
make his mark I don’t want to be pulling
out of his pocket so I made it free for
him I could have been a cheaper price I
was feeling generous whatever
it’s my typical style and it’s something
I would encourage you to embrace for the
smaller entrepreneurs just think about
their situation think about where you’re
coming from think about the clients who
try to nickel-and-dime you all the way
and how you don’t like working with
those guys so don’t be that client to
other people now assuming you’re working
with somebody bigger than you know the
little tiny entrepreneur how do you get
the best deal possible the key to
negotiating is thinking about everything
that’s important to that person besides
price okay price is always gonna matter
everybody cares about price no matter
what it is at your sound it’s always a
factor but there are always other things
that people care about besides price as
well you just have to find out what
those things are and play up to them so
people would be willing to give you a
lower price because you’re so good on
all the other factors here’s a quick
example I’m I’m renting an apartment I
just closed yesterday so I’m just
signing the checks today and the place
that I liked is 20 it was listed for
$2,600 a month okay in that building
other places were going for 27 $2,800 a
month so 26 sounds like a good deal
right I wanted a better deal I liked
getting the deal so I wanted to figure
out a better way to do it if you look at
what does a landlord care about besides
money that’s an opportunity to build a
negotiated better deal so I managed to
get the deal for 2450 much lower than a
2,600 that they were asking and much
lower than everything else is going in
the building how did I do it here’s a
few things number one think about the
landlords they want somebody who’s gonna
pay right a bad tenant somebody who
doesn’t pay is gonna be a nightmare for
them they’d rather have somebody pay
less
who will pay on time every month and
somebody who doesn’t pay up so I gave
them my credit score my credit score is
amazed
it’s off the charts it’s almost as high
as you can be and so that plays in my
favorite when going after this kind of
deal right I don’t take on debt when I
do I pay it off really quickly and so I
make for a great potential tenant so I
shared the full report with them you
could see everything my entire history
to see that I pay on time the second
thing is I showed that I’m a really good
tenant I showed my office
so I’ve owned my own office place in a
building for maybe six years and I’ve
taken care of it and I have great
neighbors and everybody likes having me
in the building and I talked about that
I talked about hey I’ve had my own place
right down the street for six years I
love being a good neighbor I take care
of the common elements and I gave that
phone number and name of my next-door
neighbor as a reference so you can call
him up like she’s known me for six years
you can talked about me being a good
neighbor and again this is something
that landlords care about they don’t
want somebody coming in who’s gonna be a
bad neighbor and cause problems for them
this is supposed to be a hands-off
passive income thing for them they don’t
want problems so show you’re not gonna
create problems I talked about my house
that I used to have how I built it up
how I sold it how I loved modern design
how I had video companies come in movie
companies come in photographers come in
and shoot the place it was featured in
magazines commercials movies and I
talked about how I look after my place
right I keep it in great condition I
looked after everything in the place and
I will treat your place like it was my
own as well and again another big
concern that landlords care about
finally on the money side I offered
instead of first and last month’s rent
I offered six months rent in advance so
I’m paying less but in pain more upfront
I had the cash on hand so I decided to
go for it and again it makes it an
easier decision for the landlord so I
got a great price better than anything
else in the building but I paid more
upfront I showed that I have a great
credit score I’m gonna pay I showed that
I’m a great neighbor and I showed that I
care about the place that I live in and
I’m gonna take care of it so these are
all things that they’re gonna care about
beyond just a price so think about any
deal you’re negotiating with any
supplier I think about everything that
they
here about beyond just a price whatever
can work in your favor
to show how great a potential customer
you can be for them so that they’ll be
willing to give you a discounted price
if you do it it’s a great way to build
an amazing relationship with your
suppliers and also save you a lot of
money believe those you’re watching like
the video please give it a thumbs up
below it always makes me want to do more
for you and I’d love to hear what you
have to think how do you negotiate with
your suppliers leave a comment below let
me know and if you have a question leave
in a comment section below I’ll make a
video response thank you so much and
I’ll see you soon
is an important question because as
entrepreneurs we don’t have tons of cash
flowing out of our wallets flowing out
of our bank accounts you need to make
every dollar stretch right you got to
make every dollar you spend count
especially in the early days and part of
that comes from negotiating great deals
with your suppliers I got a great
question from one of my readers my olive
Seif who wrote in to say Evan what is
your opinion on the go shooting with
suppliers from anywhere on top of the
original offer thank you when I’m
negotiating I always look at the size of
the company if I’m working with a bigger
company I try to negotiate as much as I
can I try to get the best possible price
because at the end of the day they won’t
care so much about me but when I’m
working with a smaller company if it’s a
solo entrepreneur or a really small
outfit I tend not to negotiate too much
because I want to be important to their
business and I know and you should know
how important every dollar is to your
company do you like the clients who
negotiate you down to your absolute
lowest profit margin do you like those
clients probably not so why would you be
that client to other people I like my
suppliers especially the small ones to
care about me I wanted to be one of
their favorite customers and to do that
you have to pay them so that they’re
gonna make a profit off of you that’s
part of business I’m not gonna overpay I
don’t want you ripping me off but I want
to make sure that you are profitable
from working with me now if you’re a
bigger company again I’m gonna take you
for as much as you can
here’s a quick example a big company
came to me and they want to do an event
with me so I had my regular right
typically for an event depending on what
it is I’ll charge between 1500 and 2500
bucks and when it came down to creating
the budget they said you got to talk to
this guy who helped bring it on and I
spoke with him and he’s his own business
he’s that he’s a small entrepreneur he’s
a solo guy and I told them on the phone
listen you know what I usually charge
1500 to 2500 bucks for this but I
understand that this is now coming out
of your pocket this isn’t coming out of
the big company’s pockets come out of
your pocket
I’m gonna build a relationship with you
and I’m gonna do it for you for free now
I get some exposure from it
from being part of it and maybe we can
build a long-term relationship together
that might work with that bigger company
but I don’t want to take that kind of
money out of an entrepreneurs pocket
doesn’t feel right to me if it’s a big
company I have no problem doing it but a
small entrepreneur solo guy trying to
make his mark I don’t want to be pulling
out of his pocket so I made it free for
him I could have been a cheaper price I
was feeling generous whatever
it’s my typical style and it’s something
I would encourage you to embrace for the
smaller entrepreneurs just think about
their situation think about where you’re
coming from think about the clients who
try to nickel-and-dime you all the way
and how you don’t like working with
those guys so don’t be that client to
other people now assuming you’re working
with somebody bigger than you know the
little tiny entrepreneur how do you get
the best deal possible the key to
negotiating is thinking about everything
that’s important to that person besides
price okay price is always gonna matter
everybody cares about price no matter
what it is at your sound it’s always a
factor but there are always other things
that people care about besides price as
well you just have to find out what
those things are and play up to them so
people would be willing to give you a
lower price because you’re so good on
all the other factors here’s a quick
example I’m I’m renting an apartment I
just closed yesterday so I’m just
signing the checks today and the place
that I liked is 20 it was listed for
$2,600 a month okay in that building
other places were going for 27 $2,800 a
month so 26 sounds like a good deal
right I wanted a better deal I liked
getting the deal so I wanted to figure
out a better way to do it if you look at
what does a landlord care about besides
money that’s an opportunity to build a
negotiated better deal so I managed to
get the deal for 2450 much lower than a
2,600 that they were asking and much
lower than everything else is going in
the building how did I do it here’s a
few things number one think about the
landlords they want somebody who’s gonna
pay right a bad tenant somebody who
doesn’t pay is gonna be a nightmare for
them they’d rather have somebody pay
less
who will pay on time every month and
somebody who doesn’t pay up so I gave
them my credit score my credit score is
amazed
it’s off the charts it’s almost as high
as you can be and so that plays in my
favorite when going after this kind of
deal right I don’t take on debt when I
do I pay it off really quickly and so I
make for a great potential tenant so I
shared the full report with them you
could see everything my entire history
to see that I pay on time the second
thing is I showed that I’m a really good
tenant I showed my office
so I’ve owned my own office place in a
building for maybe six years and I’ve
taken care of it and I have great
neighbors and everybody likes having me
in the building and I talked about that
I talked about hey I’ve had my own place
right down the street for six years I
love being a good neighbor I take care
of the common elements and I gave that
phone number and name of my next-door
neighbor as a reference so you can call
him up like she’s known me for six years
you can talked about me being a good
neighbor and again this is something
that landlords care about they don’t
want somebody coming in who’s gonna be a
bad neighbor and cause problems for them
this is supposed to be a hands-off
passive income thing for them they don’t
want problems so show you’re not gonna
create problems I talked about my house
that I used to have how I built it up
how I sold it how I loved modern design
how I had video companies come in movie
companies come in photographers come in
and shoot the place it was featured in
magazines commercials movies and I
talked about how I look after my place
right I keep it in great condition I
looked after everything in the place and
I will treat your place like it was my
own as well and again another big
concern that landlords care about
finally on the money side I offered
instead of first and last month’s rent
I offered six months rent in advance so
I’m paying less but in pain more upfront
I had the cash on hand so I decided to
go for it and again it makes it an
easier decision for the landlord so I
got a great price better than anything
else in the building but I paid more
upfront I showed that I have a great
credit score I’m gonna pay I showed that
I’m a great neighbor and I showed that I
care about the place that I live in and
I’m gonna take care of it so these are
all things that they’re gonna care about
beyond just a price so think about any
deal you’re negotiating with any
supplier I think about everything that
they
here about beyond just a price whatever
can work in your favor
to show how great a potential customer
you can be for them so that they’ll be
willing to give you a discounted price
if you do it it’s a great way to build
an amazing relationship with your
suppliers and also save you a lot of
money believe those you’re watching like
the video please give it a thumbs up
below it always makes me want to do more
for you and I’d love to hear what you
have to think how do you negotiate with
your suppliers leave a comment below let
me know and if you have a question leave
in a comment section below I’ll make a
video response thank you so much and
I’ll see you soon
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