Renegotiate all deals now

With times becoming tougher, you may find that your suppliers and other business contacts may be willing to renegotiate their existing arrangements with you to keep your business.

This is good news in a bad market, and if you’re smart you may be able to renegotiate yourself a deal that will continue through the next few years, thus saving yourself a small fortune.

To cut your costs, closely analyse every contract you have, from rent to office supplies, and look for places where you think you can get a cost reduction.

Then ask for better terms. But do it nicely. And anticipate bargaining, or compromise.

Don’t forget, it’s a renegotiation. Make sure you get your new deal in writing too.