Learn to Negotiate Better: Use The TELL METHOD

Many people think they know how to negotiate. However, in a large percentage of cases, these individuals end up being ill-prepared, rarely achieving anywhere near optimum results. This is especially true when events are negotiated by these individuals, and in far too many instances, their organizations suffer. Since I have been a professional negotiator for over thirty years, I often refer to these types of people as either the amateurs or the wannabes, and have observed far too many instances when their errors cost organizations substantial quality, revenue, and increased their expenses. There is perhaps no single attribute more essential for successful negotiations than adequate preparation, which includes doing one's homework, understanding what both your organization and the venue need, prioritizing, and attention to details (with adequate consideration of necessary contingency planning). I refer to my preferred method for effective negotiating as the TELL METHOD, because I advocate full disclosure and integrity as the basis for effective negotiations. This requires a mindset of telling the truth about your needs, expectations, budgetary requirements, and your willingness to be somewhat flexible (as long as it makes sense for both sides). This creates an atmosphere of cooperative rather than adversarial negotiations.It must be understood that the underlying philosophy for superior negotiating, is the same, regardless of industry. When one is an event planner, financial planner, or a Real Estate professional, or negotiating a specialized contract or agreement, the TELL METHOD will provide the best longer - term results.

1. Many amateur event negotiators seem to believe that they should exaggerate what they are offering the venue in order to obtain the best deal. The belief seems to be based on the concept that venues will offer more if you provide more. This invariably creates difficulties down the line, when you under- deliver, and the venue feels deceived and then tries to cut corners wherever they can, in order to compensate. The TELL METHOD means that you explain the historic data of previous events (by the way, in today's digital age, venues generally share this information anyway), so if you exaggerate, the venue doubts your credibility from the outset. Obviously, a negotiator should explain this in a favorable light, but in a realistic and honest manner. Can you see how this same approach is best for any other type of negotiation?
 
2. Telling the truth from the beginning creates a feeling of mutual trust and respect. A professional event negotiator also understands the venues strengths and weaknesses, and presents how the organization and venue can best help each other. Negotiators should stay away from merely negotiating percentage discounts from the published pricing, but rather should pre- negotiate as many items, in as much detail as possible. Negotiators should always work with a Request For Proposal (RFP), and that document should become an attachment to the final negotiated contract. Professional negotiators should also discuss ways, for example, that the venue could save money in certain lower priority areas, and then those savings could help to offset items that are priorities for the group. Only if a venue fully understands the organizations, its attendees, its needs, and its heritage, can both sides agree to something that is mutually beneficial.

3. Use the TELL Method when involved in a real estate negotiation! No buyer nor seller is absolutely perfect, no property is flawless, nor will any house meet every ideal, a potential buyer might desire. The key is coming to a meeting of the minds, by seeking common ground, and cooperation, rather than an adversarial approach!

Professional negotiators should always aim for a win- win result, because invariably when both sides are happy and satisfied, they work better and more effectively. True concessions come from trust and understanding, which requires beginning with a large amount of honesty and disclosure.