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

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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.
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Business Meetings- the value of the process

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Recently a group of meeting planners, suppliers and colleaugues met in downtown Ottawa, Canada to talk about Delivering Measurable Business Results from Meetings and Events.
 
The discussion began with results from a recent poll that had been conducted by Dr. Richard Flanagan -  author of The Six Disciplines of Breakthrough Learning  - that asked people about the outcomes of meetings and events in which they had participated.

The results were encouraging with 60-80% of participants reporting they tried what they learned and 20% of respondents reporting they had used what they learned and achieved clearly demonstrable results. 

Meetings are a worthwhile process as they can lead to significant change in activities or a reinforcement of positive activity.

I did a survey throughout our office on the value of the meeting process and here are the results;

  • It is a sharing of ideas
  • Sharing of knowledge
  • Networking opportunities
  • Can be a lot of fun
  • Location can provide insight and inspiration
  • Meetings are a great setting for people to break out of their silos and allows an opportunity to communicate ideas
  • Provides opportunities to work as teams achieving positive results - meetings are a great setting for this
  • Keeping updated on work matters
  • Keeping track of individual and team progress
  • Helps in team decision making
  • Relay specific information regarding target, subject or trend
  • Strengthen bonds and networks
  • Provides team members with a sense of unity
  • Face to face interaction is more successful than virtual meetings or interaction as it allows for the important non- verbal communication component

"Meetings are an investment"... you have inputs which are the preparation, the meeting itself, an application or action and the outputs/results or returns. Meetings are essential for productive progression in organizations, companies, governments etc... it is a necessary element for collaboration, innovation and the sharing of ideas. The question that needs to be asked is not the importance of meetings but how to make meetings even more productive.  The answer is the PROCESS.

 Stay tuned, the next posting will look at ways to make meetings more productive through processes.

What are your thoughts on the value or importance of meetings to the success of an organization?


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