Sourcing & Negotiation 📑 Part 1

In this post we’ll take a look at the do’s and don’ts of effective hotel contract negotiation for global conferences and events, MTC Globalprovides several services to event’s organizers as do most of their list of contracting dos and don’ts consulting during the venue sourcing and contract negotiation, and how to emphatically pay attention during the transaction, as this will set the control your event’s destiny during the contracting phase. We’ve taken our best practice notes and expanded upon them to give you a comprehensive review of the qualities and actions of a good, fair and ethical contract negotiator, by  reviewing the Dos & Don’ts of contract negotiation.

1-Present and maintain a professional attitude at all times.  It’s easy to let things get stressful while organizing an event, but you have to deal with the stress as it comes. Work with your peers; they have the same experience level so stay professional in every aspect of what you do for the sake of making everyone involved in the process happy – especially yourself!  

2-Control stress and tension, thing win-win There is no point in letting the negotiation stress you and make the process unpleasant. In business, as well as in everyday life, it’s very important that we find common ground with one another and work together to resolve disputes amicably. By maintaining a straightforward and honest approach to the issues you are encountering and by keeping your sense of humor intact while working with the contractor, you should be able to reach an understanding that will work for both of you.

3-Avoid religious talks, politics, and egos.  You are just an event planner professional and your point person is just a goods and services provider. Avoid religious or political talk, or people that make a big deal out of their major title but otherwise aren’t the brightest sparks. You’re an event planner and your job is to give service providers what they need to be successful for your client(s). Know when you need to step in because you do have a better grasp on logistics and costs than many of them but there will always be times when stepping back and letting other professionals try their hand at something can bring about amazing results as well! In the big scheme of things, you aren’t powerful or political power, so keep this in perspective and go about your business as equals and the intelligent, capable worker bees you are.

4-Take the time to gather all the facts and requirements in advance. Do a background check on your chosen destination management company (DMC) and Convention and Visitors Bureau (CVB). You should know everything there is to know about these suppliers in an informed way so that you can successfully negotiate a final contract. Complete this stage before making your decision!  

5-Meet with the management and site/service people who have the authority to make budget decisions and answer any questions you may have. If a representative of a department or business cannot speak on their own behalf, and still answer your questions freely under their own importance, then it will cause for easy veto to occur. Make sure the point person has full authority to negotiate, sign and amend contracts.

6-Extremely important. -Define the purpose and objectives of the meeting. When you meet with your point of contact fully prepared, you may find that it is easier to strike a deal. While negotiating the terms of your contract, make sure to focus on what both parties have on the table at the moment, then cover anything else as quickly as possible. Although some may try to pressure one another into agreeing upon something outside of what they really feel is crucial in order to secure the deal and avoid any future conflict, in most cases it is far better for everyone involved if each can be flexible.

7-Know the event from A to Z. Revise your event checklist, so that by the time you finalize a contract, you should be eating, breathing, and living the event in question. While it’s true some people may be accustomed to preparing for an event days before the actual date, this is not at all the way professional event planners operate. When professional event planning companies like MTC Global are hired to organize and manage an event, the team begins working on the project almost immediately and doesn’t stop until a few days before the big day. Our event experts act as your own personal assistant, always keeping you in the loop with any and all development in regard to your special event. You can trust us to always follow through with any pressing items at this stage such as vendor selection or perfecting the menu design. Therefore, If you aren’t 100% clear on the vision, goals, and budget, you aren’t ready to negotiate a contract.

8-Have printed copies of event plans available including timelines. Make sure you have all of the details printed out to take with you when attending important meetings in which you will negotiate anything from pricing arrangements to advertising designs. Have a list of questions available for your point person so that there are no surprises or misunderstandings about what things are expected or possible  

9-Pre-contract site visit-Make key contacts in all services and sites. Do your best to know all of your key players at the venue or with the vendor or supplier, have them come into the negotiation meeting. Pre-meeting with venue/vendor/supplier- It’s a good idea to try and find out as much as you can about the product or service provider before you call them in for negotiations. Reach out to all people involved in events and try to schedule some interviews with those who’ll attend. This will help you understand their position and avoid misinterpretations. 

If you ever need help with site sourcing and events contract negotiation reach out to: www.MTCglobalSolution.com, these services are usually complimentary for their clients.