If ever there was a time to be negotiating (and renegotiating) contracts with vendors for the coming year, now is it.

Before you read further, I want to state this: You should not look at this as an opportunity to take advantage of anyone. You should be looking to make deals that benefit both parties.

Let’s start with all of the places where you buy marketing support and/or advertising. The newspaper, your web site host, mailing house, radio and TV stations... anyone who has been receiving revenue from you on a regular basis is fair game.

They’re losing advertisers and customers right and left. If you come in with an offer for a longer contract but a lower per-unit rate, they’re going to go for the long term commitment. And don’t feel like you’re limited to their rate card. Make an offer - everything is negotiable. You’re not taking advantage of anyone, you’re creating a win-win deal.

Now look at your lease. How soon does it expire? If it’s within the next 18 months or so, it might be worth talking to Mr. Landlord. He’s losing tenants, if not now, soon. A new 5 year lease would give him one less space to lose sleep over. That’s worth some concession.

Let’s see, who else? How about your lawn care and/or snow removal service? Window cleaner? Cleaning service? Make a list of everyone that you contract with for services, and get in touch with them now.

Long term commitments. Guaranteed cash flow. Dedicated customers. They’re all things that your venders want. Go to them and offer all three, and you can practically name the price.

Think of it this way: If one of your good customers came to you and offered a contract twice as long as the one you have now in exchange for a 20% discount, would you take it? How about a 30% discount? Knowing you’ll have their business for twice as long is worth a lot, isn’t it?

Any settlement has to be beneficial to both parties. You should both come away feeling good about the outcome.

Will every vendor you talk to go along with your proposal? Maybe, maybe not. But if you don’t at least make a proposal, you’ll keep paying the same rates you’re paying now. If you want to increase profits next year, you are probably going to have to cut some expenses. Now is the time to start working on it.