Event planners are always in contact with different vendors as part of the business. Sometimes, working with the vendors strikes at both parties’ businesses which need appropriate ethics in handling issues. Both vendors and event organizers must develop good business relationships to create and maintain a mutually beneficial partnership with each other.
In order to determine that the business is profitable, event hire in Sydney must be excellent negotiators. There are several negotiation strategies to being able to achieve a win-win situation for both the event organizer and the vendor:
Many people cannot handle negotiations that’s why they shy away from the argumentative nature that is related to the process. Constant practice and experience make negotiating an easier task to do but this does not apply to starters in the business. An event organizer must always be guided that self-confidence is so important in the process. Being confident with yourself helps you exude firmness and authority. A quick way to develop the self-confidence of an event hire in Sydney is through research with the market to get more information about the details of the prices of products and services being negotiated.
If you are entirely sure of your needs and budget, you must be honest and upfront in your dealings with the vendors. Your goal must focus on achieving a mutually beneficial transaction to maintain your business partnership. This is crucial in every transaction to stay long in the business.
- Flexibility and open-mindedness
It is always safe not to assume and to be open-minded. The things that seem off your budget can be the bargaining chips when the supplier wants to capture new clients. Don’t get the mistake not to ask for enough during the negotiation process. Practice flexibility in your discussion to still get something out of an issue that is not resolved.
- You don’t need to negotiate everything there is to bargain
Event organizers must always remember the goal of long-term relationship with the vendors, so it is not advisable to negotiate on every item with them. It is even wiser to accept their initial offer if it is within the budget. This will develop goodwill and make yourself as a valuable client which can reap discounts on future engagements.
- Be calm
Being calm in your dealings especially with aggressive vendors who are new in the business will create a friendly and peaceful environment which will benefit you in your future transactions.
Negotiating with vendors indeed takes a lot of skills on the part of the event planner. One must develop more of these skills to be able to succeed in the business.