Surefire Tips for Establishing Winning Negotiations Amid an Ever-Changing Economy

Slide 1: Surefire Tips for Establishing Winning Negotiations Amid an Ever-Changing Economy Will it be a buyer�s or seller�s market for planners in 2011? Arthur Backal CEO and Founder, Backal Hospitality Group State of the Art Enterprises

What are key issues facing vendors? Event planners? Clients? How do their needs/wants converge? What are key issues facing vendors? Event planners? Clients? How do their needs/wants converge?

Slide 2:Experience & Expertise Hospitality: A to Z

AFB Background � Talk about brands and affiliated companiesAFB Background � Talk about brands and affiliated companies

Slide 3:A Unique Perspective:A view from all sides

Suppliers: Representing businesses eager to build presence Clients: Creating unparalleled events, using the best possible suppliers Planners: Making it all happen A view from all sides � SOTA, BHG, Mandarin, Apella Supply & DemandA view from all sides � SOTA, BHG, Mandarin, Apella Supply & Demand

Slide 4:A Lexicon for Success

Unique EFFICIENCY STYLE EXCELLENCE Result-oriented Energy Business building Vitality ARTISTRY DISTINCTION Professionalism Innovative MAGNETIC FUN

Slide 5:Today�s Topic:Establishing Winning Negotiations . . . 

Let�s Make a Deal Music�Let�s Make a Deal Music�

Slide 6:Play let�s make a deal theme songPlay let�s make a deal theme song

Slide 7:�Let�s Make a Deal�

3 Curtains to Choose from There is something of value to everyone Flat Screen TV Diamond Earrings Sub-Zero Fridge Doesn�t everyone want a deal these days? There are certain things that are more important to some people and less important to othersDoesn�t everyone want a deal these days? There are certain things that are more important to some people and less important to others

Slide 8:The Artistry of the Deal

Everyone goes home a winner . . . Or thinks they did!

Slide 9:Lessons Applied 

Producing an event involves 3 �curtains� Clients Suppliers Planners Successful negotiation leaves all feeling like winning contestants Planners have to make everyone happy!!! They may be 3rd on the list but they are always in the middlePlanners have to make everyone happy!!! They may be 3rd on the list but they are always in the middle

Slide 10:Curtain #1: Clients

Slide 11:Clients: Behind the Curtain

More access to information Better educated about market Tighter budgets Understand that everything is negotiable More internal governance & regulation Sensitivity to market perceptions Excesses of financial institutions Image-centric businesses (fashion, beauty) More access to information = BizBash, Google, The Knot Better Educated about market = more savvyMore access to information = BizBash, Google, The Knot Better Educated about market = more savvy

Slide 12:Curtain #2: Suppliers

Slide 13:Suppliers: Behind the Curtain

Internet has created an instant, searchable, global marketplace for products & services More supply = Greater price elasticity Pressure to keep pipeline filled Only as good as your last event Loyalty is tied to outcomes including budget Search out new ways to build business

Slide 14:Curtain #3: Planners

Slide 15:Planners: Behind the Curtain

Creating a great event isn�t enough Sourcing great providers isn�t enough Must be a better businessperson Creativity PLUS fiscal responsibility Continually prove your worth Dispel notion that planners are luxury Validate client decision to hire planner Better business person = 80% of our job as planners is negotiating which is much different than in years past.Better business person = 80% of our job as planners is negotiating which is much different than in years past.

Slide 17:Clients: Endgame

Greater price flexibility from suppliers Extras! Extras! Read all about �em! Services, amenities, upgrades have more value than in passed decades Successful outcomes On budget Satisfied clients (colleagues; management) Validation of decision to hire a planner

Slide 18:Suppliers: Endgame

Established relationships Become the �Go-to� suppliers Repeat & referral customers Finding the untapped niches Strategic alliances Sound business results Strategic alliances help you expand your bandwidth as a business. We can�t go it alone.Strategic alliances help you expand your bandwidth as a business. We can�t go it alone.

Slide 19:Planners: Endgame

Successful events Referral & repeat business Sound business results

Slide 20:2011:

It�s NOT the Economy!

Slide 21:Some More Planning Tips . . .

Slide 22:Focus on Your Goals for 2011 Change the Way People Think on ALL Sides of a Deal Be HUNGRY for New Opportunities Set Reasonable Goals Establish Achievable Budgets Clearly Articulate Objective of Event and Let it Drive the Process Curb your Client�s Enthusiasm DO Get a Vendor on Your Side & DON�T Let Money Come Between You Reinforce Client�s Decision to Hire Planner

Cue music- Everyone got smarter, sharper & hungrier. If you didn�t become a better business person as a result . . . Don�t love EVERYTHING about a vendor�s product; you effectively take away your ability to negotiate Planners = Not a luxury; could cost more $ and result in less satisfaction Cue music- Everyone got smarter, sharper & hungrier. If you didn�t become a better business person as a result . . . Don�t love EVERYTHING about a vendor�s product; you effectively take away your ability to negotiate Planners = Not a luxury; could cost more $ and result in less satisfaction

Slide 23: Surefire Tips for Establishing Winning Negotiations Amid an Ever-Changing Economy THANK YOU!!! Arthur Backal CEO and Founder, Backal Hospitality Group State of the Art Enterprises

What are key issues facing vendors? Event planners? Clients? How do their needs/wants converge? What are key issues facing vendors? Event planners? Clients? How do their needs/wants converge?