When Times Get Tough, The Tough Start Negotiating

In these times of layoffs, everyone is out to prove their worth. And meeting planners are no exception. A recent survey by Meetings and Conventions Magazine ranks Food and Beverage and AV equipment as top ways to save. Speakers are not immune however, as 34 percent cite speaker fees as an area they measure savings. So watch for hard negotiating — not only because of budget cuts, but for political capital. This dynamic hits low-cost experts hard, as upper middle management are all fighting for survival. Have your response — and lowest price — well rehearsed. Prepare to defend and to promte options. And don’t blink; have the gumption to walk away if you can’t get a fair exchange. Some buyers are just using the economy as a negotiating chip.

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