Common Mistakes Event Professionals Make in Contract Negotiations

Knowing how to navigate negotiations can give you favorable terms in a deal. Event professionals need excellent negotiation skills to lower financial, operational, and legal risks in a contract.

Such skills can help you get the best vendors, venues, and clients. The best vendors or suppliers are reliable service providers. You can reach them from any location using their responsive website.

Service providers like caters or florists use such websites to display their products and services. The websites have the latest trends and technologies that make researching products easier. Research enables you to know what you want so that you can avoid making mistakes.

Why is an Event Website Necessary?

A responsive event website helps event professionals not just organize an event but an experience. Such websites provide convenience to the organizers and suppliers of an event.

Event professionals can build lasting connections with service providers through an event website. This is possible with the help of professional website developers like web designer NYC. This is a web design development company that provides result-oriented web-based solutions.

Strong connections build trust and smoothen the process of contract negotiations. The following are common mistakes that event professionals should avoid when negotiating a contract.

Not Asking Enough Questions

Event professionals may fear sounding needy or selfish when they ask many questions. This is not true. Asking more questions can help you reach a compromise with the other person.

If you fail to ask questions, you will miss out on what you want. No question should be too big or even too small to ask. An event professional can negotiate for anything, including the price of the internet in a hotel.

When you ask questions, you clear all the doubts you may have before signing a contract.

Lack of Confidence

Negotiations involve having tough conversations with clients, vendors, or employees. Sometimes these negotiations can be intimidating.

In most cases, you are not sure how the negotiation will end. The feeling can be overwhelming but remember, lack of confidence can make you appear weak or incompetent.

Have a positive mindset and gather confidence. The more deals you negotiate and gain experience, the better you become.

Over time you will develop skills and confidence to approach negotiations the right way. What you need to remember is to start a negotiation with confidence as you prove your ideas.

Hold a firm position and demonstrate knowledge of the topic of discussion. This can help you get the deal you want. Reaching a compromise is ideal, but it is good to stand your ground when the negotiations are tough.

Not Considering Cancellations

Not planning for unforeseeable situations that might lead to cancellation is a mistake. An event professional should ensure cancellations are included and addressed during contract negotiations.

This enables you to be a good risk manager should things go wrong. Including cancellation in contract negotiations also protects your business from indemnities.

Most contracts have a termination clause that protects you from things you cannot control. A termination can be due to a pandemic or any other disaster. The clause should also protect you from damages as a result of supplier negligence.

Rushed Negotiations

A good contract negotiation takes time. Last-minute negotiations can lead to costly mistakes. Such talks can put a lot of pressure on you to accept a deal from a client or vendor without proper research.

For example, rushed negotiations do not allow you to look at different photography portfolios of vendors before making the best decision. Photography websites show you evidence of what a supplier can do. Photos can help you know what to expect in an event.

However, early negotiations can allow event professionals to use a digital marketing agency to conduct thorough research. They can use apps or other digital devices to access  relevant information.

Accepting Cheap Service Providers

When comparing different vendors, it can be tempting to opt for cheaper vendors. Looking only at the prices can lead to a wrong decision.

Before accepting a deal, it is important to check vendors’ portfolio websites. Such an online portfolio can give you more information that will help you make a decision.

Do not make decisions based only on the price. Take time to conduct a thorough background check and make the right decision.

Taking Negotiations Personally

Some negotiations can be tough and challenging. Other times they can be awkward for both parties. In such situations, it is important not to take issues personally.

Instead, try to understand the other person’s viewpoint. In case someone underestimates your skills try to focus on their reasoning and understanding their perspective.

This will help you to negotiate with a business mindset and not a personal mindset. Reasoning from the right attitude will give negotiation a chance. It helps you not to make emotional decisions and get a good deal.

Getting Angry

The fastest way to end a negotiation and lose a contract is to get upset. People avoid working with individuals who cannot control their emotions.

Having emotional intelligence is critical even when the negotiation is getting difficult. When your emotions are under control, the discussion has a chance to end in a successful compromise.

This enables an event professional to maintain respect and focus on getting a solution. Professionalism requires that you keep calm and maintain a cool demeanor.

It is easier to work with friendly and calm people. Clients will enjoy negotiating with you if you are an understanding and patient person.

Establishing Prior Connections

Establishing early connections before you negotiate for any contract is important in business. Develop quality relationships with networks in your community.

People like to work with individuals they already know as real, hardworking, and honest. Before the time comes to negotiate a deal, build a relationship with vendors and get to know venue managers.

Know their needs and perspectives by looking at their website marketing strategy. The knowledge you discover will work to your advantage when the time to negotiate a deal comes.

When you have prior relationships with vendors or clients, they will be willing to bend a little and work with you.

Not Reading the Contract

Before you sign any agreement, it is important to read everything that is in the contract. Take as much time as you need to read and understand what you are expected to do.

Understand what the other party is expected to do as well. Do not be in a hurry to sign a contract until everything is clear. When you read and understand contracts, you will avoid surprises like additional fees that can affect your budget.

Final Thoughts

Event professionals need good negotiation skills to help them get what they want in a contract. Go for what you want. Show confidence, skill and be knowledgeable in what you are negotiating for.

Having quality relationships will also make the negotiation process much easier. In any negotiation process, remember to show respect to the other party.

The more you negotiate for contracts, the better you get at navigating them. Remember to avoid making mistakes that might deny you a great opportunity. The negotiation process becomes enjoyable, and you look forward to it when you avoid mistakes.

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Author: Carmen Bodziak

Carmen Bodziak has been on the marketing team at Goodshuffle since 2019 and got into the business because of her passion for empowering business owners through technology. She loves connecting with the events industry both virtually and in-person, so say hi if you see her at a trade show! Outside of Goodshuffle, she loves to travel and spend time outdoors.