Mastering the Art of Negotiation: How to Secure the Value You Deserve

Are you constantly leaving money on the table? The uncomfortable truth is that most entrepreneurs under-negotiate, guided by fear of rejection or a misplaced belief that accepting less somehow gets you through the door faster. 

In this compelling episode of Not Just Candle Talk, we dive deep into the psychology and strategy behind effective negotiation—not the aggressive, winner-takes-all approach you might imagine, but negotiation as professional, strategic communication that respects your value and expertise. Through the innovative P.O.W.E.R. framework (Prepare like a pro, Own your value, Wait for it, Explore the win, Reframe the rejection), you'll discover how to transform your approach to pricing conversations, client proposals, and vendor relationships.

The episode features real-world examples that prove the power of strategic negotiation: a graphic designer who doubled her rate with a simple question, a candle brand that secured premium shelf space without listing fees, and a service provider who traded discounts for long-term contracts. You'll gain five specific power phrases to memorize and implement immediately in your business conversations. Whether you're selling products or services, working with corporate clients or individual customers, these tactics apply universally.

Remember, negotiation isn't greed—it's strategy. Every time you avoid negotiating, you're choosing discomfort over your business's destiny. Whether you're pitching a $20 candle or a $200,000 retainer, these skills determine your profitability and sustainability. Ready to stop the discount mindset and start commanding your worth? Listen now, take notes, and share this episode with fellow entrepreneurs who need to hear this message.

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Episode Transcript

Speaker 1 (00:00):
Hello world, welcome back to Not Just Candle Talk,
the podcast where we unpack theraw truth.
Money moves and mindset shiftsevery modern entrepreneur needs.
I'm your host, tony, and today,oh, we're getting into
something major.
Let's talk about negotiation.

(00:21):
And no, I'm not talking aboutyour car dealerships or your
cheesy TV lawyers.
I'm talking about real worldnegotiation.
And no, I'm not talking aboutyour car dealerships or your
cheesy TV lawyers.
I'm talking about real worldnegotiation, the kind that can
increase your profit, help youchoose better deals, elevate
your brand value and positionyou as a boss in any room.
This episode is calledMastering the Art of Negotiation

(00:45):
Negotiating your way to greaterprofit.
And whether you're negotiatingwith vendors, clients,
collaborators or even yourself,you'll walk away today with
tools that move money.
So grab your coffee and yournotepad, or just hit the

(01:06):
bookmark button, because we'reabout to level up your ability
to ask position and secure theyes you deserve.
Let's start with the truth.
Most entrepreneursunder-negotiate.
Why?
Because they're afraid ofrejection, afraid of seeming

(01:26):
difficult or simply never learnhow.
Here's what that looks like yousend a price and immediately
offer a discount before theclient even responds, or you
accept the first offer from asupplier without countering.
Also, some might get nervouswhen someone asks can you do

(01:56):
better on the price?
Does that sound familiar?
You're not alone and the systembenefits from you staying
uncomfortable with negotiation.
But guess what?
Profits are often made or lostat the negotiation table.
So let's fix that.

(02:18):
Negotiation isn'tconfrontational, it's
communication with confidence.
Say this out loud with meNegotiation is a sign of
professionalism, not desperation.
You negotiate because you valuewhat you bring.
Whether you're a serviceprovider, a product-based

(02:43):
business or a creativeentrepreneur, negotiation is a
way to ensure your value isaligned with your compensation.
Here's a secret Big brandsnegotiate every single day.
Celebrities don't accept thefirst offer.
Billion dollar companies are inboardrooms tweaking deals to

(03:07):
the decimal point.
So why are you afraid to saylet's revisit the terms.
Shift your mindset, if you will.
Negotiation is not greed, it'sstrategy.
Now let's get into the how Icall this?
Power, p-o-w-e-r.

(03:28):
This is the negotiationframework.
All right, we're going to startwith the P.
Prepare like a pro.
Now know what you want beforeyou enter.
What's your ideal outcome,what's your walkaway point and

(03:49):
what are your value points.
I'll set an example.
Okay, so you're pitching acorporate gift candle bundle
With that.
Know your production costs,your value, your value adds,
such as labels and gift wrappingand the kind of volume discount

(04:11):
you're willing to offer.
Oh, own your value.
Walk in like the expert you are.
Don't over-explain your prices.
Use case studies, testimonialsand data to reframe your worth.

(04:32):
Say, based on our previouscorporate partners, our bundle,
increased employee engagementand brand segment.
Here's proof.
Okay, w, wait for the X.
Silence is a weapon.
After you state your price orproposal, just shut up.
Let them react.
The first person to breaksilence usually folds E.

(04:56):
Explore the win.
Negotiation is not just you win,they lose.
It's about finding alignment.
Ask questions like what's mostimportant to you in this deal?
Or you could say something likeare there areas where
flexibility can help us both?
This right here, opens thedoors for creative solutions

(05:21):
bundling timelines and even apayment plan.
R.
Reframe the rejection.
If someone says that's out ofbudget, don't fold, reframe it.
Say something like I understand, let's explore a version that
works for both of us.
Like understand, let's explorea version that works for both of
us, maybe adjusting the scopeor timeline.

(05:42):
You're not giving up, you'renavigating.
So let me drop some real worldexamples.
Okay, a graphic designerdoubled her rate just by asking
what's the budget range you havein mind and finding out the
client expected to pay more.

(06:03):
Or a candle brand.
Negotiated shelf space at aboutique without paying a
listing fee by offering custompackaging that matched the
store's aesthetic.
Or the service provider.
Entrepreneur, swipe discountrates for a multi-month contract

(06:24):
, guaranteeing cash flow insteadof a one-time revenue.
That money is in the ask.
Now here are some power phrasesyou can use when negotiating.
Number one is there flexibilityin the budget for a proven
performer like me?

(06:44):
Number two let's talk about howwe can make this work without
compromising value.
Number three can we explore apackage that fits your goals and
respects the results I deliver?
Number four would a longercommitment help with price and

(07:05):
flexibility on my end?
Number five let's talk options.
I don't believe in one size fitsall solutions.
Practice these, memorize them,make them part of your pitch
vocabulary, ok.
So I want to end it with.

(07:26):
I want to end this right now.
I want to end it with thisEvery time you don't negotiate,
you're choosing to leave moneyon the table.
You're choosing discomfort overyour destiny.
You're choosing sacrifice oversustainability, and that's not
who you are right.
You're building something real,okay, something legacy level.

(07:52):
So, whether you're pitching a$20 candle or a $200,000
retainer you negotiate like.
Your business depends on itevery single time, because it
does At the end of the day itdoes.
So I want to wrap this up fortoday, and I want to hit on this

(08:12):
because it's very important.
Of course, you know these are,these are things that happen
every single day in business,whether it's small, small
business or large negotiationsare happening right now, as we
speak, somewhere in the world,and I wanted to bring it up

(08:32):
because most of the time we andI think I brought this up in
another episode but most of thetime, especially when you,
starting off, you think I'llgive discounts, discount,
discounts that will get me inthe door.
Not at all, not at all.
Never compromise your worthwith anyone.

(08:52):
And those who will, those whoyou don't have to compromise
with, they appreciate you andyou will appreciate them even
more, right?
So I just wanted to hit on thisreal quick because I think it's
very important.
I think it needs to be talkedabout.
Maybe I'll do a part two ofthis one.
I like doing a part twos ofepisodes.

(09:13):
So if you, if you like thisepisode, please share it with
another entrepreneur who hasthat discount discount mindset
and afraid to do those talks.
Have those talks andnegotiation points, share it
with them or, you know, if youlike this, run it back and get

(09:37):
those, get that power framework,if you will, and implement
those in your everydaynegotiations.
Until next time.
Thank you for listening and Iwill talk to you guys later.
Thank you, bye.