S6 E13: Negotiation Skills: From Leases to Life Lessons

In this episode of the Business of Business podcast, Staci J. Dempsey, Jennifer Faith, and Jack Dempsey discuss the critical role of negotiation in business, particularly in managing expenses and lease agreements. They share personal experiences and insights on how to build confidence in negotiation skills, the importance of understanding business expenses, and creative strategies for negotiating with vendors. The conversation also touches on the lessons learned from personal experiences and the significance of family and motherhood in their lives.Nugget Alerts- Negotiation is essential for managing business expenses effectively.- Building confidence in negotiation comes with experience and practice.- Understanding the details of contracts and leases is crucial.- Never negotiate against yourself; let the other party make the first offer.- It's important to advocate for your business and set clear expectations with vendors.- Creative negotiation can lead to valuable support rather than just discounts.- Regularly reviewing business expenses can uncover opportunities for savings.- Personal experiences can provide valuable lessons in negotiation.- Family dynamics can influence negotiation skills and strategies.- Celebrating motherhood and family is an important aspect of life.Email us at: [email protected] Please download our Best of Nuggets eBook here. Like and follow us on FacebookJennifer Faith Dempsey has been in the beauty industry for over 10 years. For the last 5m years, she has owned J. Faith Hair Studio. She brings her experience on how she balances entrepreneurship and motherhood. Check out Jen’s blog.Staci Joy Dempsey is an insurance agent, a mom, and a busy non-profit volunteer. She truly understands what it means to be an entrepreneur. Staci serves as the podcast's host.Jack Dempsey is the dad who heads up this busy family. He is a founding partner in Dempsey, Weiss & Associates, an Elmer, NJ-based insurance and investment firm that began more than 30 years ago.