Our Blog

Current Articles | RSS Feed RSS Feed

The Art of Negotiation - Get the Best Deal – A Meeting Planners Way

Submit to Digg digg it |  Add to delicious  delicious |  Submit to StumbleUpon StumbleUpon | Submit to Reddit reddit 

By Dawn Wilson

I recently attended a negotiations seminar at a PCMA Conference. If there is any one session that I, as a seasoned sales person should have taken years ago – this was it. This was a thought provoking and interesting day long session. The wonderful part of this is that I now have real tools to help me decide and evaluate each negotiation differently and more effectively. This can be applied to all areas of my life and the second part of the session that covered the psychology of the subject matter was just as thought provoking. Consider this: Gut instinct is not a replacement for strategy – reflect on your own personal strategies with this statement in mind. There are a couple of things you need to figure out in any deal – you must know what is the number you cannot go below (as a buyer or seller) and you must know how to find out what is your bottom line. 

  1.  Figure out your BATNA (Best Alternative to a negotiated agreement).Your BATNA is the course of action you will pursue in the event of “no deal”
  2. Determine your Reservation Value – the point at which you are indifferent between accepting the deal and walking away. A BATNA analysis helps you determine your reservation value. 
  3. Evaluate the ZOPA – Zone of Possible Agreement – the space/difference between the seller’s reservation value and the buyer’s reservation value.
Here are some things to consider in any negotiation: Information is King. What you learn depends on what you are willing to learn. Always negotiate about the value you bring to the buyer. Prepare in advance to answer the toughest questions that you may be asked in the negotiation – this helps avoid lying, helps you not give up too much information; and helps you reclaim control. My next blog will be talking about more negotiating – should you make the first offer and how to effectively anchor to set the tone of your negotiation.
All Posts

Subscribe by Email

Your email:

Posts by Month

A Convention Meeting Planners & Exhibitors Blog

Current Articles | RSS Feed RSS Feed

Business Meetings - Get the most out of your meeting investment

Share on Twitter Twitter | Share on Facebook Facebook | Submit to Digg digg it |  Add to delicious  delicious |  Submit to StumbleUpon StumbleUpon |  Share on LinkedIn LinkedIn | Submit to Reddit reddit 

Delivering Measurable Business Results From Meetings and Events
 
A comment on a presentation done by Richard D. Flanagan Ph.D that took place in Ottawa as a part of a joint venture with PCMA and Ottawa Tourism
 
Recently a group of meeting planners, suppliers and colleagues met in downtown Ottawa to talk about Delivering Measurable Business Results from Meetings and Events.
 
The talk/discussion began with a very true statement that a “Meeting is an investment”
 
You have inputs which are the preparation, the meeting itself, an application or action and the outputs/results or returns.
 
So how do you make meetings more of a productive event?

the answer is not in the act of having a meeting it is in the PROCESS. 
 
Dr. Flanagan said a few things that really resonated with me  
 
"objectives are dreams if they do not become actions."
 
“ The primary purpose of a meeting or event is to improve business and personal results for all stakeholders”
 
So how do we achieve /increase results from meetings, more specifically create measurable results?
 
A great model he introduced is called “Pathway to results”
 
It involves the following;
 
Strategic Meeting Objectives: What is the stated overall business purpose of the meeting or event.

A tip - Begin with the end in mind

  1. Define the purpose of the meeting.  I think the idea here is to define what you want to get out of this meeting, or what purpose or "business need" as defined by Dr. Flanagan will be met.
  2. Design the meeting.  What steps are needed to acquire the end result needed.  An example in marketing would be setting up a mind mapping exercise...what would it be for you?
  3. Deliver - make this actionable - what action do we need to take to make this a reality and who will be responsible for what?
  4.  Drive and Deploy - actions to assure there is a follow through and the requirements to support.                                       To assure follow through happens you could create a calendar of activities with actions to take, time lines, names of those accountable for actions and a summarization column. Generally people and resources would be the means to support actions.
  5. Document - summarize what happened, the end result and debrief with the team involved.  Ask the imperative question...what action need to take place now.

 What are your suggestions for maximizing ROI on meetings...any agenda secrets you want to share?


Comments

Currently, there are no comments. Be the first to post one!
Post Comment
Name
 *
Email
 *
Website (optional)
Comment
 *

Allowed tags: <a> link, <b> bold, <i> italics