How to be Ruthless With Your Business Contracts in 2021!

    If 2020 was an unprecedented year, 2021 has been one in which we’ve all come to terms with what the pandemic means for our businesses and our way of life. The uncertainty of the previous year is far lower now, and things appear to be on a path back to normality, enabling longer-term planning. But the world is still changed. As such, here’s a helpful guide to show you how you can capitalize on the current global situation by being ruthless with your business contracts in the latter part of this year.

    Table of Contents

    New-found leverage

    For many businesses, 2021 has been the year of returning to some semblance of normality. Perhaps you’ve increased your sales back to pre-pandemic levels, or you’ve welcomed staff back to the office. But since the pandemic began, everything’s changed. Suddenly, you’re in the driver’s seat when it comes to negotiating rental contracts with commercial rental agencies, who know that they need to do more to convince you to stay.

    The same leverage applies across the board when it comes to commercial supply firms. Any contract you had before the pandemic can likely be negotiated down, using the threat of going to another supplier as your path to getting better rates. So as well as rent, this applies to bills, supply contracts, and office services too.

    Workplace bills

    Looking specifically at workplace bills, you’ll find that rates have changed since you last signed on the dotted line. And again, those rates are likely to have fallen, as decreasing demand for commercial contracts has forced utility companies into a battle to offer the lowest prices. This is certainly something that you should capitalize on.

    If you don’t have the time to trawl through the internet to find the best rates in your region, it may be worth getting help from, for instance, Business Water Quotes to reduce your water bill. The same goes for your other utilities, with electricity one of the easiest to reduce down to a cheaper, better-value contract. Don’t settle for pre-pandemic rates – and use your leverage to bring these prices as low as you can.

    Recovery and growth

    As a business, whatever sector you’re in, you have a unique opportunity to capture more of your market as your competitors are licking their wounds from a difficult year. For businesses that are confident in their offerings, this is the moment to secure more deals and contracts with clients and customers – expanding your reach beyond your serviceable market from 2019.

    Your responsibility is to show new clients that you’re ahead of your competitors in terms of recovery and growth. Your negotiation tactic here is all about showing how your firm is ready to hit the ground running and soar above its pre-pandemic productivity. This will demonstrate that you’re a reliable partner, able to offer a great deal to them while guaranteeing that all-important consistency in delivery.

    There’s no doubt that 2021 remains a challenging year to do business. But those businesses that capitalize on these unique circumstances, with the three tips above, could go on to save and make more money in 2022.

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