1 / 10

Contract Negotiations: How to Get What You Want

Contract Negotiations: How to Get What You Want. James M. Goldberg SGMP 2014 National Education Conference. Preparation is the Key. Understand your strengths, weaknesses Understand the other party’s perspective Develop “game plan” Prioritize your needs and wants.

etta
Download Presentation

Contract Negotiations: How to Get What You Want

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Contract Negotiations:How to Get What You Want James M. Goldberg SGMP 2014 National Education Conference

  2. Preparation is the Key • Understand your strengths, weaknesses • Understand the other party’s perspective • Develop “game plan” • Prioritize your needs and wants

  3. Understand the Hotel’s Perspective • Pattern • RevPAR • Food and beverage contribution • Meeting space allocation • Total revenue contribution • Other considerations

  4. Basic Principles of Negotiation • What is negotiable? • Victory has a price • You don’t get what you don’t ask for • It’s not over until the “fat lady” sings

  5. Understand Negotiation Strategy • Power • Having options is the key • Knowledge • Priorities, deadlines, pressures

  6. Understand Negotiation Strategy • Time • 90% of negotiation in last 10% of time • Works against party who has least time • Leverage • Quality of business • Meeting other party’s needs

  7. Tactics • Don’t make, or accept, the first offer • Avoid a direct response • “What would make you happy”? • Don’t make unilateral concessions • Trade your want for my want • Have more than one issue to discuss

  8. More Tactics • Keep focused on the goal • Avoid the “auction symdrome” • Set aside difficult issues • Be patient • Put time on your side • Build up “chits”

  9. Still More Tactics • Be a good listener • Focus on satisfaction, not all or nothing • Think outside the box • Know when to “fold ‘em” • Be willing to walk away • No deal is better than a bad deal

  10. Questions?

More Related