Acquiring the skills to negotiate an agreement with a venue or a vendor doesn't take years to perfect, nor do you need to turn into a hard-core sales person.
At least that hasn't been the case for my career. There are simple things you can incorporate when you're communicating with vendors for your next event.
I'm excited to share a few tips with you that I find helpful when I'm negotiating the contract terms.
1. Identify your advantage - The obvious advantage is that you are a client and the other person is wanting to book more clients. Secondly there could be other advantages to consider such as; you're a very large group, the company is new and is eager to book business, you have multiple clients that you could bring to them, or you're event is during off season when they need to book more events.
2. Be Assertive - It's helpful for all parties involved if you are specific with what you want and what you are trying to achieve with the agreement. Within reason don't be afraid to ask for the price point that you're looking for. For example if the catering company says that the entree price per person is $80 per person, but that doesn't fit within your budget ask if they will lower it $75 or $70 per person.
3. Ask Questions - Find out what items are included in their proposal, so you're not assuming something is covered when in reality it's an extra fee. Each event is different (even with the same vendors) that you want to clearly define the expectations in writing. This will help protect the relationship you have with your clients and your vendors.
4. Be respective and understanding - Sometimes the old saying you can catch more bees with honey rings true. You don't need to go in guns blazing to strong arm the vendor into the best deal. In some situations you have to take a firm stance. More times than not you'll have a favorable outcome with a respectful and considerate approach.
5. Price is not the only thing you can negotiate: There may be inclusions that are extra charges/equipment beyond labor and time that could be added at a discounted rate.
It's important to take advantage of the contract negotiation phase to help solidify your budget goals and event expectations. After you sign you're no longer in a position to negotiate with a ton of leverage if you need to make changes or additions.
I strongly recommend this book to anyone and everyone looking to enhance their negotiating skills: Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss.
Cheers,
Jen Luna
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