Why You're Losing Money Without Knowing It | Master Negotiation ft. Durdana Farid | Ep: 8

In this powerful episode, we dive into the underrated yet high-impact world of procurement and business negotiation with industry veteran Durdana Farid. With over 22 years of procurement experience across various industries, Durdana reveals the mindset, strategies, and emotional intelligence required to negotiate better deals, build long-term supplier relationships, and increase profitability—without just chasing the lowest price. 🚀 Whether you're a startup founder, a scaling SME, or a corporate leader, this podcast gives you actionable insights into: ➡When and how to start thinking about procurement ➡What makes or breaks a negotiation ➡How emotional intelligence plays a role in supplier success ➡Why "cheapest" is not always "best value" ➡Real-life stories of tough negotiations and how to win them 🧠 Learn how to break price deadlocks, safeguard contracts, and grow your profits ethically. 👤 About the Guest - Durdana Farid Durdana is a senior procurement expert with 22+ years of experience in strategic sourcing, supplier negotiations, and relationship building. Her corporate background and hands-on experience have made her a trusted voice in the procurement and business strategy space. 🎙️ Host: Muhammad Tariq – CEO of InZone Group and host of “Think and Grow 10X”, empowering entrepreneurs and professionals across the UAE and beyond. ----------------------------------- 🎯 Why Watch? If you’re an entrepreneur, startup founder, or someone passionate about personal growth, this video will help you gain real-world insights, actionable strategies, and motivation to achieve 10X success. 🔥 More Ways to Grow: 📢 Subscribe for More: https://bit.ly/Thinkandgrow10X 🎥 Watch Next:    • Diary Of A Founder   📢 Follow Us for Daily Insights: 📸 Instagram:   / muhammad_tariqofficial   🐦 Spotify: https://open.spotify.com/show/77sa1qB... 🔗 LinkedIn:   / muhammad-tariq-04840517b   📩 Business Inquiries & Collaborations: For sponsorships, business partnerships, or speaking opportunities, contact us at: [email protected] 🎬 About Think and Grow 10X At Think and Grow 10X, we bring you inspiring stories, expert interviews, and proven strategies to help you scale your business, master personal growth, and achieve your biggest goals. Whether you're a startup founder, business leader, or dreamer, this channel is your roadmap to success. 🚀 Join the movement. Think bigger. Grow bolder. Achieve 10X! 🔔 Don't forget to LIKE, COMMENT & SUBSCRIBE! ------------------------------- 📖 Chapters: 00:00 - Intro: The power of negotiation 01:56 - Apple’s comeback and Tim Cook's procurement legacy 04:00 - What is procurement? The misunderstood function 06:09 - Procurement tips for startups and small teams 08:05 - Is procurement just cost-cutting? 10:20 - Ethical procurement and growing with your suppliers 12:18 - Why "cheapest" is a red flag 14:55 - How to negotiate: Gut instinct vs structure 17:08 - Can startups negotiate effectively? 19:05 - How to pick the right vendor early 21:19 - Win-win mindset in negotiations 23:31 - Real-life negotiation story: 55% cost reduction 26:47 - Why empathy and EQ matter in procurement 28:06 - Mindset shift: Why win-win matters for long-term growth 29:34 - How to break price deadlocks with value-adds 30:56 - Deadlocks on contract terms: Strategy tips 32:51 - Commercial, technical, and legal negotiation layers 35:04 - How to evaluate suppliers and avoid disasters 36:53 - Why legal and procurement must work together 38:22 - Procurement culture in the UAE vs the West 39:43 - Cost of ignoring procurement and legal basics 40:31 - Toughest negotiation: How Durdana won a multi-million waiver 43:35 - Why some people struggle in procurement 44:58 - When should a business hire a procurement expert? 45:43 - One powerful advice for entrepreneurs #ThinkAndGrow10X #Entrepreneurship #SuccessMindset #PersonalDevelopment #BusinessGrowth