In the business world of today, computer software is priority for any business. This is especially true for sports. Whether analyzing player performance, ticket sales, or facility maintenance, a good computer infrastructure is fundamental in supporting the sports industry. Many startups and smaller companies do as quality a service as the icons of the industry, but have to negotiate deals based upon other strengths of their respective companies. At Applications Technology Inc., CEO Mudar Yaghi relies on how he can benefit the customer. The most important facets of negotiation for him revolve around creating mergers and acquisitions, setting price and licensing with computer software.
In his business, the most important outcome of the negotiation is the market value of the client. The ability to analyze the benefit to the buyer and maximize the value of the product from the supplier is very significant to the success of his negotiations. In order to sell products, he seeks to lower the cost to the buyer, increase the profit margin and increase productivity. If he meets this goal and accomplishes all three goals from the prospective of his company, then he has fulfilled his promise to the client. At this point, his payment is comparable to the benefit the client received on his behalf.
Because it is a smaller company, App Tech depends on its brand. Yaghi emphasizes how performance, history in the market, product quality, and reputation define a brand. When negotiation, the brand speaks for the company since people know who the company is and where they stand in the market. Because they are not Google or Microsoft, they have to pitch the reputation of their company and how they increase margin and profitability. App Tech wants to understand your business in order to help grow your business. Though Yaghi says the name is implied, he understands that as a smaller organization, “I cannot rely on my name, I rely on what I can do for the client.”
Affiliations are also a key component of negotiations. Yaghi cites his connections with industry specific associations whose comparisons and rankings assist in building the brand. In addition to this, he references the significance of how your product tests and assesses according to relevant independent institutes and agencies. It matters how various trade organizations perceive and rate App Tech. This also helps with negotiations as being better than your competition guides business to you, whether or not they know who you are.
Yaghi views negotiations as a marriage: “they end up in a compromise.” Take it or leave it does not exist when negotiating. Having a solid reputation and strong connections are just as important to the negotiation as what you are able to provide the client. Remembering this is key to successful negotiations in the future.
