Negotiation as a Tool for Ownership
By Samalid Hogan, Director of Business Support Services
August is National Black Business Month, and at BII, we’re celebrating by lifting up a skill that shapes every stage of entrepreneurship: negotiation.
Entrepreneurs of color build businesses that create jobs, revitalize neighborhoods, and strengthen local economies. Negotiation is where that ownership takes hold, whether it’s a lease, a supplier contract, a loan term, or a client agreement. Strong negotiation is how founders protect their vision and keep more value flowing back into their businesses and communities.
A few tactics worth practicing:
#1. Know your walk-away point. Before any conversation, decide the terms you won’t accept. Clarity here protects you from pressure in the moment.
#2. Anchor with research, not guesswork. Whether you’re pricing services or negotiating a lease, come with market data. It builds credibility and shifts the conversation from opinion to fact.
#3. Ask questions before you make offers. The person who understands the other side’s priorities first has more room to find terms that work for everyone. This is the heart of trust-based, relationship-based dealmaking.
#4. Silence is a tool. After you state your position, resist the urge to fill the quiet. Let the other side respond first.
#5. Practice out loud. Negotiation is a muscle. Role-play tough conversations with a mentor, coach, or peer before the real one happens.
For more negotiation tactics and advice, please consider the following books:
- Never Split the Difference by Chris Voss
- Getting to Yes by Roger Fisher and William Ury
- We Should All Be Millionaires by Rachel Rodgers, which speaks directly to entrepreneurs of color building generational wealth.
Negotiation isn’t just a business skill. It’s a form of self-determination, and it’s how community wealth gets built one deal at a time.
GreenEdge Accelerator – Accepting Applicants!
GreenEdge Accelerator is a statewide program helping small businesses strengthen their operations, gain critical certifications, and access contract opportunities in clean energy sectors like building retrofits, solar installations, and EV infrastructure. Participants who complete the program earn a $2,000 stipend.
We’re opening one final round of individualized coaching through the end of 2026, and only 7 spots remain. Know a business ready to grow? Refer them today!
Accelerate Your Impact: Massachusetts Small Business Coaching Program
At BII, we believe financial capital alone isn’t enough to build a thriving business. That’s where business coaching and technical assistance (TA) comes in. TA is the behind-the-scenes support that helps small businesses and cooperatives grow stronger, smarter, and more sustainable.
At BII, our free 1-on-1 business coaching services provided in English and Spanish include:
- Capital readiness: Understanding what kind of funding fits your goals
- Financial projections: Building the roadmap to a stable future
- Resource navigation: Finding tools, experts, and programs that support your goals
- Access to contracts: Growing your revenue through new partnerships
This program is ideal for businesses ready to scale, create good jobs, and lead with purpose. Learn more.
Business Resources and Programs
Looking for public grants, programs and business resources? Check out our regularly updated list of resources, or reach out to the local organizations listed on our website. This month, we’re highlighting:
- The Acceleration Project (TAP) – Free Small Business Coaching: These programs are designed to help businesses strengthen operations and grow. Includes monthly webinars, small group coaching, 1:1 coaching.
- Launch of the ElevAsian CEO Action Tank, a new, exclusive peer advisory program for CEOs of growth-stage businesses.
- LabStart is accepting fellowship applications for their 2027 Cohort. The fellowship empowers entrepreneurs to commercialize breakthrough technologies from America’s research labs.
Events
Where will BII be speaking, partnering, or hosting? Follow us on Luma to see what’s coming up!