As planners, much of our time is spent negotiating various contracts and pricing, but sometimes it is nice to review the basics – just to make sure you haven’t fallen into any bad habits. We should all keep in mind that negotiation is a process. It is highly unlikely to be completed in one sitting. During the process, planners should keep these three things in mind.

1. Objectives. As you start the process, be sure you are very clear on both your client’s and the vendor’s objectives.
2. “Hot Buttons”. Identify key issues or problems the vendor might have and what they need to take away from the table to be happy.
3. Compromise & Agreement. You want to get the best contract you can for your client but all parties should be happy with the final product.

Really take time to explore the first two phases in negotiation. Fully understanding those two things will absolutely make a difference between a good contract and a great one.

Article Site: The Meeting Magazine - Negotiate Like A Pro