Renegotiation: How to Think Differently in Times of Change.
- Mar 12
- 2 min read
If you look back, you’ll find that some of the greatest business turnarounds weren’t driven by bold innovations, but by strategic renegotiations. Like renegotiations between Apple and Microsoft in 1997.
When circumstances change, they shift the balance of power and create opportunities for new partnerships or at least for renegotiating existing terms that can lead to much better business for both parties.
We have entered the period of massive economic shift. Despite what you may think, the changes we are experiencing will affect your business in one way or another. You will be forced to renegotiate existing contracts sooner or later. There’s no question about it. The question is: Are you ready for it? Renegotiation is not merely an option — it’s a necessity and a certainty.
Delaying or ignoring renegotiation now could cost you later. This is the time to act — before the situation forces your hand. Don’t wait for the invitation—take the lead. Pick up the phone, call your partners, clients, or maybe even competitors (careful with this one, obviously), and say:"Hey, we've got to talk."
If they have already called you to the renegotiation table, don’t panic. Instead, build your renegotiation strategy—this is your opportunity to reshape the deal based on new circumstances and stay ahead of the curve.
What you must do now:
Ask yourself how these changes will impact your partners’ costs and what they ultimately mean for your business and the entire industry.
Prepare the agenda (the list of variables) you want to renegotiate.
Take the lead to start and control the discussion.
If you're unsure how to approach the renegotiation or engage the other party, now is the time to bring in a professional negotiator to guide you and craft a strategy suited to your situation.
The agreements you make today will shape your business for decades to come. Don’t wait. This is your time to adapt, lead, and create a path to success through renegotiation. The time to renegotiate is now.
