10 Negotiation Phrases Every Entrepreneur Should Know for Better Deals

Negotiation is inherent to the process of doing business. Entrepreneurs negotiate with investors, customers, suppliers, staff, collaborators, and potential clients. Sometimes, the result is influenced not only by the offer but also by the questions put forward, the information provided, and the way a proposal is made.

Effective entrepreneur negotiation skills are important not only in large negotiations. An entrepreneur who negotiates payment terms with a supplier or a contract with a client faces the same task: finding common ground that benefits the company.

According to the Harvard Program on Negotiation, one should prepare around interests, alternatives, options, and communication instead of simply reacting to what the other side says. Business Honor explores practical negotiation phrases entrepreneurs can use to handle clients, suppliers, investors, partners, and business deals with greater clarity.

“Can you tell me more about that?”

This is among the simplest negotiation phrases for business, but it can uncover information that may not be revealed by making a counteroffer right away.

For instance, if a buyer feels that the cost of an item is too high, asking why they have that particular concern might shed light on whether the issue is the total cost, the payment plan, the budget, the quantity, or something else.

Such open-ended questions can help the negotiator understand the priorities of the other side rather than guessing them. According to the Harvard Program on Negotiation, neutral questions are recommended.

“What matters most to you in this deal?”

Price does not necessarily have to be the sole factor.

The seller may be more concerned with speedy payment, while the buyer might be more concerned with speedy delivery.

The investor, on the other hand, may be more concerned with growth prospects and ownership.

This means that there could be certain interests that each party can address during negotiations. This is one of the principles of good negotiation.

“If we can agree on X, could we move forward on Y?”

This phrase provides a means of connecting various aspects of a transaction.

If, for example, a customer seeks a discount but the entrepreneur requires a longer contract, rather than focusing on one aspect of the deal, both could be brought into the discussion.

This is one of the many valuable business negotiation techniques that allow for an exchange among different priorities. Harvard's business negotiation research describes such an approach as creating value through smart trade-offs between different issues.

“What would make this work for you?”

Negotiations can become complicated when each party simply restates their own demands.

This question shifts the discussion because it prompts the other party to state what their real needs are before the entrepreneur decides what they can or cannot provide.

It is especially effective if the discussion seems stuck but there are still chances of reaching an agreement.

“Let me make sure I understand you correctly.”

Listening is just as vital as speaking.

An entrepreneur may use this expression when presented with a complex proposal or issue and then summarize what they have heard.

Active listening can help avoid misunderstandings, reveal hidden problems, and simplify difficult discussions. The Program on Negotiation at Harvard Law School has identified these methods as effective listening techniques.

“Here are two options we could consider.”

Providing choices could be more effective than offering one option at a time.

For instance, the founder can offer the client a lower rate for a longer contract or the regular rate with faster delivery. Both proposals enable the other party to demonstrate what is important to them.

Developing various offers is also a part of the negotiation process.

“What is your biggest concern with this proposal?”

Rejection does not necessarily mean that the whole proposal has been rejected.

It could be one particular point that is keeping the other side from accepting it. Asking directly about that point can help identify the issue.

This can work well as part of negotiation strategies for entrepreneurs, as it keeps the discussion focused on solving the real problem.

“I need some time to consider this.”

Not all negotiations require an immediate response.

Entrepreneurs can take some time to look at the figures, examine the contract, or consult with their team regarding the offer. An immediate response could be risky when the offer involves significant financial or legal commitments.

Preparation plays a big role in the negotiation process. The Harvard Program on Negotiation suggests analyzing your own interests and alternatives before entering serious negotiations.

“What happens if we cannot reach an agreement?”

This question focuses on alternatives.

In negotiation terms, BATNA stands for Best Alternative to a Negotiated Agreement. It is, in essence, what is available if the agreement being considered fails. Knowing your BATNA makes it possible to determine whether the proposed agreement is better than the alternative.

From the perspective of entrepreneurs, it could mean knowing another supplier, another client, another funding source, or another solution to the business issue.

A good alternative can also strengthen the negotiator's position because there is less need to accept a bad deal.

“What would you need from us to make that possible?”

The negotiation does not always have to revolve around what the entrepreneur can offer.

It can help to find out what the other side is prepared to do. Maybe they could buy more stock, sign a longer-term contract, make prompt payment, or change the shipping date.

This could result in a more balanced deal.

“Let's look at the numbers together.”

Assumptions in business deals tend to become easier to address when they are replaced with facts.

In cases where there are differences over matters such as pricing, cost, quantity, and timing, going through the data can shift the discussion beyond personal positions.

This is particularly useful for entrepreneurs when dealing with suppliers, buyers, partners, and investors.

The Real Skill behind These Phrases

Although having a list of negotiation phrases for business is beneficial, it alone is not enough to turn someone into a good negotiator.

It is even more important to know when to ask a question, when to listen, and when to make a proposal. Moreover, entrepreneurs should be aware of what they want to achieve from the agreement before starting the discussion.

The latest negotiation guidance offered by Harvard's Program on Negotiation continues to stress the importance of preparation, active listening, open-ended questions, BATNA, and value-creating trade-offs.

For entrepreneurs, these skills are important because they negotiate constantly. Although a discussion with a supplier, an investor, or a customer may take different forms, the underlying challenge remains the same.

Know your priorities. Understand the interests of the other party. Keep some options ready. Do not try to fill every silence with a new proposal.

That is where entrepreneurial negotiation skills become valuable.