Not Just Candle Talk: Burn the Rules. Build Your Legacy

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

Not Just Candle Talk

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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Speaker 1:

Hello world, welcome back to Not Just Candle Talk, the podcast where we unpack the raw truth. Money moves and mindset shifts every modern entrepreneur needs. I'm your host, tony, and today, oh, we're getting into something major. Let's talk about negotiation. And no, I'm not talking about your car dealerships or your cheesy TV lawyers. I'm talking about real world negotiation. And no, I'm not talking about your car dealerships or your cheesy TV lawyers. I'm talking about real world negotiation, the kind that can increase your profit, help you choose better deals, elevate your brand value and position you as a boss in any room. This episode is called Mastering the Art of Negotiation Negotiating your way to greater profit. And whether you're negotiating with vendors, clients, collaborators or even yourself, you'll walk away today with tools that move money. So grab your coffee and your notepad, or just hit the bookmark button, because we're about to level up your ability to ask position and secure the yes you deserve.

Speaker 1:

Let's start with the truth. Most entrepreneurs under-negotiate. Why? Because they're afraid of rejection, afraid of seeming difficult or simply never learn how. Here's what that looks like you send a price and immediately offer a discount before the client even responds, or you accept the first offer from a supplier without countering. Also, some might get nervous when someone asks can you do better on the price? Does that sound familiar? You're not alone and the system benefits from you staying uncomfortable with negotiation. But guess what? Profits are often made or lost at the negotiation table. So let's fix that.

Speaker 1:

Negotiation isn't confrontational, it's communication with confidence. Say this out loud with me Negotiation is a sign of professionalism, not desperation. You negotiate because you value what you bring. Whether you're a service provider, a product-based business or a creative entrepreneur, negotiation is a way to ensure your value is aligned with your compensation. Here's a secret Big brands negotiate every single day. Celebrities don't accept the first offer. Billion dollar companies are in boardrooms tweaking deals to the decimal point. So why are you afraid to say let's revisit the terms. Shift your mindset, if you will. Negotiation is not greed, it's strategy.

Speaker 1:

Now let's get into the how I call this? Power, p-o-w-e-r. This is the negotiation framework. All right, we're going to start with the P. Prepare like a pro. Now know what you want before you enter. What's your ideal outcome, what's your walkaway point and what are your value points. I'll set an example. Okay, so you're pitching a corporate gift candle bundle With that. Know your production costs, your value, your value adds, such as labels and gift wrapping and the kind of volume discount 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, testimonials and data to reframe your worth. Say, based on our previous corporate partners, our bundle, increased employee engagement and brand segment. Here's proof. Okay, w, wait for the X.

Speaker 1:

Silence is a weapon. After you state your price or proposal, just shut up. Let them react. The first person to break silence usually folds E. Explore the win.

Speaker 1:

Negotiation is not just you win, they lose. It's about finding alignment. Ask questions like what's most important to you in this deal? Or you could say something like are there areas where flexibility can help us both? This right here, opens the doors for creative solutions bundling timelines and even a payment plan. R. Reframe the rejection.

Speaker 1:

If someone says that's out of budget, 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 explore a version that works for both of us, maybe adjusting the scope or timeline. You're not giving up, you're navigating. So let me drop some real world examples. Okay, a graphic designer doubled her rate just by asking what's the budget range you have in mind and finding out the client expected to pay more. Or a candle brand. Negotiated shelf space at a boutique without paying a listing fee by offering custom packaging that matched the store's aesthetic. Or the service provider. Entrepreneur, swipe discount rates for a multi-month contract, guaranteeing cash flow instead of a one-time revenue. That money is in the ask.

Speaker 1:

Now here are some power phrases you can use when negotiating. Number one is there flexibility in the budget for a proven performer like me? Number two let's talk about how we can make this work without compromising value. Number three can we explore a package that fits your goals and respects the results I deliver? Number four would a longer commitment help with price and flexibility on my end? Number five let's talk options.

Speaker 1:

I don't believe in one size fits all solutions. Practice these, memorize them, make them part of your pitch vocabulary, ok. So I want to end it with. I want to end this right now. I want to end it with this Every time you don't negotiate, you're choosing to leave money on the table. You're choosing discomfort over your destiny. You're choosing sacrifice over sustainability, and that's not who you are right. You're building something real, okay, something legacy level. So, whether you're pitching a $20 candle or a $200,000 retainer you negotiate like. Your business depends on it every single time, because it does At the end of the day it does.

Speaker 1:

So I want to wrap this up for today, and I want to hit on this 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 negotiations are happening right now, as we speak, somewhere in the world, and I wanted to bring it up because most of the time we and I think I brought this up in another episode but most of the time, especially when you, starting off, you think I'll give discounts, discount, discounts that will get me in the door. Not at all, not at all. Never compromise your worth with anyone. And those who will, those who you don't have to compromise with, they appreciate you and you will appreciate them even more, right? So I just wanted to hit on this real quick because I think it's very important.

Speaker 1:

I think it needs to be talked about. Maybe I'll do a part two of this one. I like doing a part twos of episodes. So if you, if you like this episode, please share it with another entrepreneur who has that discount discount mindset and afraid to do those talks. Have those talks and negotiation points, share it with them or, you know, if you like this, run it back and get those, get that power framework, if you will, and implement those in your everyday negotiations. Until next time. Thank you for listening and I will talk to you guys later. Thank you, bye.