How to Negotiate Better Cost Prices for Your Small Business (Even If You’re an Introvert or People-Pleaser)

If you’re a millennial woman like me, I bet you’ve got a bit of a people-pleasing streak too. You probably want everyone to be happy, from your customers, your suppliers, and your dog, if we’re being honest.

But when it comes to running a small business, that tendency can make things tricky. Especially when you need to ask your suppliers for something, like better prices, faster turnaround times, or smaller minimum order quantities.

And if you’re someone who prides themselves on running their business ethically, the idea of negotiating might feel… icky. You don’t want to undercut another small business or make anyone feel taken advantage of.

Negotiating doesn’t have to mean being pushy or cold though. In fact, when done right, it’s about building stronger, fairer relationships with your suppliers, ones that work better for both of you.

Because if you’re not making enough profit, you’ll have less cash to buy more from them. And that doesn’t help either of you in the long run.

I’m Katie, a Stock & Profit Specialist who’s worked with both big retailers and small businesses to understand their costs, manage margins, and keep their businesses sustainable. So, here are some practical, no-pressure ways to negotiate better prices for your small business, even if you’re an introvert or recovering people-pleaser.

1. Find Your Sweet Spot: The “I’m OK, You’re OK” Approach

This one’s a little corporate throwback (bear with me), but it’s actually a brilliant mindset tool for negotiation. It’s called The OK Corral and it’s all about how we communicate with others.

• I’m OK, You’re Not OK – This is when you go in too hard, dismiss the other person’s views, and focus only on being right.
• I’m Not OK, You’re OK – This is classic people-pleasing. You avoid conflict, downplay your needs, and say “yes” even when it’s not right for you.
• I’m Not OK, You’re Not OK – Nobody’s happy. It’s that helpless, passive-aggressive stalemate where no progress is made.
• I’m OK, You’re OK – This is the sweet spot. You’re assertive but kind. You communicate openly, honestly, and respectfully, even when you disagree.

When you’re negotiating, this last one is where you want to be. You can absolutely be kind and confident. You’re not asking for special treatment, you’re asking for a fair outcome that helps both businesses thrive.

2. Think “Give and Take,” Not “Get and Take”

Negotiation is a partnership, not a tug-of-war.

Rather than asking, “What’s the cheapest price you can give me?”, try asking, “How can we bring the cost down together?”

That small shift in language changes everything. It shows that you’re thinking collaboratively, not combatively.

Here are a few ideas that can benefit both sides:

• Payment terms: Offer to pay upfront or faster in exchange for a small discount.
• Bulk or combined orders: See if buying multiple products or collections together can get you a better unit cost.
• Planning ahead: If you can give them more notice on your next order, it helps them plan production and they might reward that with a better rate.

Remember: your goal isn’t to squeeze their margin, it’s to find a sustainable price that works for both businesses.

If you push prices too low, your supplier might have to cut corners, delay your orders, or compromise on quality. None of that helps your brand.

3. See If You Can “De-Spec” (Without Cutting Quality)

This one needs a bit of care, but it can be really effective.

In big retail, “de-specing” a product means simplifying it, removing or changing features to bring costs down. I used to hate doing this when it meant cutting quality for customers (and it goes against everything small businesses stand for), but sometimes, making small, thoughtful tweaks can actually make sense, especially when they don’t affect the look, feel, or integrity of your product.

For example:

• Could your product use fewer trims or packaging materials without affecting its quality?
• Could you switch to a slower (but cheaper) shipping method if you’re not in a rush?
• Are there optional extras (like tags, tissue, or boxes) that could be simplified?

Try giving your supplier a target cost price and tell them what price you’d need to make the numbers work, and ask what could be adjusted to get there. You’ll often find they can help you meet in the middle.

It’s not about asking for “cheap.” It’s about finding efficiencies that make sense.

4. Know Your Numbers Before You Negotiate

Nothing gives you confidence like data. You don’t want to go into a negotiation with a vague or “wishy-washy” goal.

Before you even start the conversation, work out your target cost price, the amount you need to pay to maintain your desired margin. Knowing this figure makes negotiating so much easier because you’ll have a clear goal in mind.

It also shows your supplier that you understand your numbers and are serious about running a sustainable business and it helps them see exactly where you’re coming from.

You can do this by:

• Taking your retail price (what you sell the product for).
• Subtracting your desired profit margin (say 60%).
• The number you’re left with is your maximum cost price.

This way, you’re not just asking for “a better deal”, you’re working with your supplier to make a fair price work for both sides.

5. Don’t Be Afraid to Pause

Sometimes, despite your best intentions, negotiations can hit a bit of an awkward wall.

If you’re a people-pleaser, your first instinct might be to fill the silence or agree to something just to smooth things over. But silence can actually be powerful.

If you reach an impasse, it’s completely fine to say, in person or over email, "Let’s pause this for now .”

Give it a bit of breathing room. You might find your supplier comes back and agrees to the offer, or you might realise there’s another solution.

Just be mindful of artificial time pressure, like, “We’re nearly sold out, so you’ll need to order today.” Hold your nerve. A few hours shouldn't make or break the deal.

Negotiating Without the Ick

Negotiating isn’t about being difficult or scary, it’s about making sure your business is sustainable. When you’re profitable, your suppliers benefit too, because you’ll keep coming back.

So remember:

• Approach negotiations from that “I’m OK, You’re OK” mindset.
• Treat your suppliers like partners, not opponents.
• Focus on collaboration and clarity, not confrontation.

And don’t be afraid to step away and pause when you reach a stalemate.

You don’t have to change who you are to be good at negotiation. You just need the right mindset and the confidence to ask for what your business needs.

You’ve got this, lovely!