How to negotiate with your Target and Walmart Buyer and leverage your power – Daniel Duty – EP44

What you’ll learn:

As businessowners and entrepreneurs, we’ve all negotiated with someone—whether that be buyers, clients, or manufacturers. Just two months into COVID-19, and you may also be considering a renegotiation with your landlord of your office lease—if you haven’t done so already. Here to guide us through negotiations of all kinds is negotiation ninja Daniel Duty. Daniel lead the negotiation to get Starbucks into all of Target’s stores. He knows a thing or two on how to build partnerships, leverage power, and craft a solution that meets everyone’s needs. Listen for endless tips on how to approach your next negotiation.

About our guest:

Daniel built the Business Partnerships and Negotiations team for Target where he developed its negotiations and partnership strategy and implemented a variety of tools and frameworks, creating billions of dollars in savings, growth and innovation.

Daniel has led hundreds of negotiations with companies like Nestle, Hasbro, and Unilever. He developed strategic partnerships creating innovative new products and solutions with organizations like P&G, Starbucks and UNICEF.

Prior to joining Target, Daniel negotiated on behalf of US Senator Paul Simon, the US International Trade Commission, General Mills and other organizations.

Key takeaways from this episode:

• The most common mistake companies make when negotiating with buyers and vendors—3:10
• 3 tips for renegotiating your lease in the time of COVID-19—5:52
• How to maintain partnerships during an email or non-verbal negotiation—8:48
• What is the right approach to negotiating a China tariff price increase? —12:28
• How to leverage your differentiation in the marketplace to buyers—16:03
• A guide to more successfully pitching your brand to Target—17:14
• Negation trends: what is working today and what isn’t—21:00
• How to determine if your buyer is using negotiation tactics or tricks to get you to lower prices—24:12
• The importance of being honest and knowing your rank as a supplier—26:06
• The top factors that buyers look for when considering a quote supplier—28:40
• The 3 sources of leveraging power during a negotiation—30:18
• How a negotiation coach will help you grow top line and grow bottom line as an organization or business of any size —36:07

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Episode References: Conlego

Contact Daniel Duty: [email protected] + LinkedIn  

Contact Luke: [email protected] + LinkedIn 

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