Surefire Tips for Surefire Tips for Establishing Establishing

Winning Negotiations Winning Negotiations Amid an Ever-Changing Amid an Ever-Changing

EconomyEconomy

Will it be a buyer’s or seller’s Will it be a buyer’s or seller’s market market

for planners in 2011?for planners in 2011?

Arthur BackalArthur BackalCEO and Founder, Backal Hospitality GroupCEO and Founder, Backal Hospitality Group

State of the Art EnterprisesState of the Art Enterprises

Experience & ExpertiseExperience & Expertise Hospitality: A to ZHospitality: A to Z

A Unique Perspective:A Unique Perspective:A view from all sidesA view from all sides

Suppliers: Representing businesses Suppliers: Representing businesses eager to build presence eager to build presence

Clients: Creating unparalleled Clients: Creating unparalleled events, using the best possible events, using the best possible suppliers suppliers

Planners: Making it all happenPlanners: Making it all happen

A Lexicon for SuccessA Lexicon for Success

Unique

EFFICIENCY

STYLE

EXCELLENCE

Result-oriented

Energy

Business building

Vitality

ARTISTRY

DISTINCTIONProfessionalism

Innovative

MAGNETIC

FUN

Today’s Topic:Today’s Topic:Establishing Winning Establishing Winning NegotiationsNegotiations . . . . . .

““Let’s Make a Deal”Let’s Make a Deal”• 3 Curtains to Choose from• There is something of value to everyoneFlat Screen TVDiamond EarringsSub-Zero Fridge

The Artistry of the DealThe Artistry of the Deal

Everyone goes home a Everyone goes home a winner . . . winner . . .

Or thinks they did!Or thinks they did!

Lessons Applied Lessons Applied

Producing an event involves 3 Producing an event involves 3 “curtains”“curtains”ClientsClientsSuppliers Suppliers PlannersPlanners

Successful negotiation leaves Successful negotiation leaves all feeling like winning all feeling like winning contestantscontestants

Curtain #1: ClientsCurtain #1: Clients

Clients: Behind the Clients: Behind the CurtainCurtain

More access to informationMore access to informationBetter educated about marketBetter educated about marketTighter budgetsTighter budgetsUnderstand that everything is Understand that everything is negotiablenegotiable

More internal governance & More internal governance & regulationregulation

Sensitivity to market perceptionsSensitivity to market perceptionsExcesses of financial institutionsExcesses of financial institutionsImage-centric businesses (fashion, Image-centric businesses (fashion, beauty)beauty)

Curtain #2: SuppliersCurtain #2: Suppliers

Suppliers: Behind the Suppliers: Behind the CurtainCurtain

Internet has created an instant, Internet has created an instant, searchable, global marketplace for searchable, global marketplace for products & servicesproducts & services

More supply = Greater price More supply = Greater price elasticityelasticity

Pressure to keep pipeline filledPressure to keep pipeline filledOnly as good as your last eventOnly as good as your last eventLoyalty is tied to outcomes Loyalty is tied to outcomes includingincluding budgetbudget

Search out new ways to build businessSearch out new ways to build business

Curtain #3: PlannersCurtain #3: Planners

Planners: Behind the Planners: Behind the CurtainCurtain

Creating a great event isn’t enoughCreating a great event isn’t enoughSourcing great providers isn’t enoughSourcing great providers isn’t enoughMust be a better businesspersonMust be a better businesspersonCreativity PLUS fiscal responsibilityCreativity PLUS fiscal responsibilityContinually prove your worthContinually prove your worth

Dispel notion that planners are luxury Dispel notion that planners are luxury Validate client decision to hire plannerValidate client decision to hire planner

So, where do we go from here?

Clients: EndgameClients: EndgameGreater price flexibility from Greater price flexibility from supplierssuppliers

Extras! Extras! Read all about ‘em! Extras! Extras! Read all about ‘em! Services, amenities, upgrades have Services, amenities, upgrades have more value than in passed decadesmore value than in passed decades

Successful outcomesSuccessful outcomesOn budgetOn budgetSatisfied clients (colleagues; Satisfied clients (colleagues; management)management)

Validation of decision to hire a Validation of decision to hire a plannerplanner

Suppliers: EndgameSuppliers: Endgame

Established relationshipsEstablished relationshipsBecome the “Go-to” suppliersBecome the “Go-to” suppliersRepeat & referral customersRepeat & referral customersFinding the untapped niches Finding the untapped niches Strategic alliancesStrategic alliancesSound business resultsSound business results

Planners: EndgamePlanners: Endgame

Successful eventsSuccessful eventsReferral & repeat Referral & repeat businessbusiness

Sound business resultsSound business results

2011:2011:

It’s It’s NOT NOT

the Economy!the Economy!

Some More Planning Tips . Some More Planning Tips . . .. .

Focus on Your Goals for 2011Focus on Your Goals for 2011

Change the Way People Think Change the Way People Think

on ALL Sides of a Dealon ALL Sides of a Deal

Be HUNGRY for New OpportunitiesBe HUNGRY for New Opportunities

Set Reasonable GoalsSet Reasonable Goals

Establish Achievable BudgetsEstablish Achievable Budgets

Clearly Articulate Objective of Event Clearly Articulate Objective of Event and and

Let it Drive the ProcessLet it Drive the Process

Curb your Client’s EnthusiasmCurb your Client’s Enthusiasm

DODO Get a Vendor on Your Side & Get a Vendor on Your Side &

DON’T DON’T Let Money Come Between YouLet Money Come Between You

Reinforce Client’s Decision to Hire Reinforce Client’s Decision to Hire PlannerPlanner

Surefire Tips for Surefire Tips for Establishing Establishing

Winning Negotiations Winning Negotiations Amid an Ever-Changing Amid an Ever-Changing

EconomyEconomy

THANK YOU!!!THANK YOU!!!

Arthur BackalArthur BackalCEO and Founder, Backal Hospitality GroupCEO and Founder, Backal Hospitality Group

State of the Art EnterprisesState of the Art Enterprises