I have a friend who asks for a discount on every single thing he purchases. He is a business owner, but he doesn’t just ask for discounts when signing contracts or making purchases for his business. He asks for a discount on every single thing he buys, business or personal. A lot of the time his inquiry is done in humor and good taste. I finally asked why he does this and he explained that if he does not get into the habit of asking for discounts or negotiating, you may miss your opportunity or not have the confidence when the time comes for it to really make a difference.

This makes sense. How many times have you bought something where you knew you could of negotiated but felt uncomfortable to ask? Well, you just left money on the table. In some countries negotiating is a part of the culture. I’ve heard from several people who’ve traveled to India that people there negotiate everything. And tourists especially have to negotiate! A friend told me locals advised them not to buy anything unless it is negotiated down 70% from the sticker price. Otherwise, walk away and the vendor will come after you and give you your terms. Think that’s crazy? Just remember, that vendor will still wave and smile as you go on your way after the sale. He wouldn’t have sold it or be smiling if he didn’t make money.

As a start-up business, you may be operating on tight profit margins to build a customer base. You need to make sure your suppliers know this. If they’re a more established company, it’s likely they have wiggle room on their prices. Most companies expect to be asked for discounts, and give them. So, don’t leave money on the table for your start-up.