Every entrepreneur negotiates—whether it’s with customers, suppliers, partners, or investors. But most treat negotiation as a talent you either have or don’t. In reality, it’s a skill you can sharpen like any other, and the best way to do that is through practice.
Just as athletes run drills to prepare for game day, entrepreneurs can use negotiation exercises to train for high-stakes conversations. The more you practice in low-pressure settings, the more natural it becomes when the pressure’s on.
Let’s walk through practical drills you can start today.
Why Entrepreneurs Need Negotiation Training
A strong product or service isn’t enough. Business is built on agreements, and agreements come from negotiation.
Without strong skills, you risk:
- Leaving money on the table with underpriced deals.
- Getting boxed in by unfavorable terms.
- Burning bridges through poor communication.
- Feeling unprepared when faced with tough clients or investors.
The solution isn’t to wing it—it’s to train like you would for any core business skill.
Drill 1: The Anchor Exercise
Anchoring is the tactic of setting the first number in a negotiation, which often influences the final outcome. To practice:
- Pair with a friend or team member.
- Take turns being the seller and the buyer.
- As the seller, open with a high but reasonable anchor.
- As the buyer, push back and negotiate downward.
The goal isn’t to “win” but to see how anchoring shifts the entire conversation. Over time, you’ll build confidence in setting strong anchors instead of waiting for the other party to control the numbers.
Drill 2: Silence Training
Most entrepreneurs talk too much in negotiations, especially when nervous. This drill helps you get comfortable with silence.
- Practice role-play negotiations where one rule applies: after you make a key statement or counteroffer, stay silent.
- Count to ten in your head before speaking again.
You’ll notice that silence creates pressure. More often than not, the other party fills it by conceding or revealing valuable information.
Drill 3: BATNA Role-Play
BATNA stands for “Best Alternative to a Negotiated Agreement.” It’s your backup plan if a deal falls through. Practicing with BATNAs builds strength because you stop negotiating from desperation.
- In role-play, have one person negotiate with a strong BATNA (e.g., another supplier lined up).
- The other negotiates with a weak BATNA (no alternative).
- Switch roles.
This highlights how confidence comes from having options, and it trains you to always enter negotiations knowing your fallback.
Drill 4: Objection Handling
Every negotiation includes objections. Practice by having a partner throw common objections at you rapid-fire, such as:
- “That’s too expensive.”
- “We need more time to decide.”
- “Your competitor offers this cheaper.”
Your goal is to respond calmly, with questions that reframe the objection instead of panicking. For example: “I hear you—what part of the value feels unclear?”
Rehearsing objections builds resilience, so you’re never blindsided in real conversations.
Drill 5: The Win-Win Simulation
Negotiation isn’t always about squeezing the other side. Sometimes, creating extra value for both parties is the smartest path.
To practice:
- Take a fictional scenario (like a supplier deal).
- Each side writes down hidden priorities (e.g., one values faster delivery, the other values larger orders).
- During the role-play, uncover these priorities and try to craft an agreement that satisfies both.
This trains you to look beyond positions and focus on interests—one of the most powerful habits in negotiation.
Drill 6: Time Pressure Round
Deadlines change dynamics. To simulate this, role-play negotiations with a timer set for five minutes. When the clock’s running, people cut fluff and move quickly to key terms.
Practicing under time pressure helps you stay sharp when real-world deals come with urgency.
Turning Practice Into Performance
The key to negotiation training is consistency. These drills don’t have to take hours—fifteen minutes once a week can make you sharper than most entrepreneurs who never practice.
The goal isn’t to become manipulative; it’s to stay calm, confident, and strategic when stakes are high. Negotiation is where your preparation meets opportunity.
The Bottom Line
The entrepreneurs who close the best deals aren’t always the smoothest talkers. They’re the ones who’ve trained. By practicing anchors, silence, BATNAs, objections, win-win strategies, and time pressure, you’ll walk into every conversation with tools instead of nerves.
And if you want negotiation to be just one part of a broader playbook for building business wealth, check out THE PLAN. It’s built to give you systems that sharpen every area of entrepreneurship—from deals to growth to money management.
