Topline
TOPLINE HOTLINE: How do you balance getting the best deal with choosing the right product?
Jul 11, 2024
The podcast discusses balancing deals with product choices in business, highlighting savvy buying, commoditized vs. non-commoditized products, and negotiation leverage. It explores the trade-offs in price and value, strategic decision-making, effective spending in partnerships, and negotiation tactics for services and products. The hosts share stories and insights on discounts, buyer behavior, and tech challenges in the business ecosystem.
14:18
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Quick takeaways
- Negotiate for value, not just price, when purchasing products.
- Differentiate procurement strategies for products vs. services to ensure wise spending.
Deep dives
Balancing Value and Price in Purchasing Decisions
When considering purchasing decisions, it's crucial to strike a balance between obtaining the best deal for the company and selecting the right product. It's not solely about revenue growth anymore, but about wise spending. CEOs and founders need to be savvy buyers and understand that a good deal doesn't always mean the lowest price but can involve additional value. Leveraging negotiations tactically at the end of a quarter or year can maximize leverage to secure advantageous terms.
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