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What do you do if you're an entry-level event planner negotiating contracts and deals?

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As an entry-level event planner, you might be excited to take on new projects and showcase your creativity and organizational skills. However, you also need to be prepared to negotiate contracts and deals with various vendors, clients, and partners. This can be a daunting task, especially if you don't have much experience or leverage. How can you make sure you get the best value for your work and avoid common pitfalls? Here are some tips to help you navigate the negotiation process and secure successful outcomes.

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1 Know your budget

Before you start negotiating, you need to have a clear idea of how much money you have to spend and how you will allocate it. This will help you prioritize your needs and wants, and avoid overspending or under-delivering. You should also research the market rates and average costs of the services and products you need, so you can have a realistic baseline for your negotiations. Don't forget to factor in taxes, fees, and contingencies in your budget.

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Ambrish Sharma

Managing Director at AN EVE Group
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Before entering negotiations, thoroughly research market rates, vendor services, and client expectations. Preparedness is key to advocating for fair deals. Recognize the value of your skills, creativity, and time. Don't undervalue your services, but also remain flexible and open to compromise to establish long-term relationships. Clearly define your needs, expectations, and limitations from the outset. Effective communication fosters mutual understanding and builds trust with clients and vendors.

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2 Build rapport and trust

Negotiating is not only about numbers and terms, but also about relationships and communication. You want to establish a positive and professional rapport with the people you are negotiating with, and show them that you respect their work and value their input. This will help you create trust and mutual understanding, which can lead to more favorable and flexible deals. You can build rapport by asking open-ended questions, listening actively, acknowledging their concerns, and expressing appreciation.

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3 Be prepared and confident

One of the keys to successful negotiation is preparation. You should have a clear idea of what you want, what you can offer, and what you can compromise on. You should also anticipate potential objections, challenges, and scenarios, and have ready responses and solutions. You should also be confident in your skills and abilities, and convey that confidence in your tone, body language, and words. Don't be afraid to ask for what you deserve, but also be willing to listen and adapt.

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4 Review and document everything

Once you reach an agreement, you need to make sure that everything is documented and reviewed. You should always ask for a written contract that outlines the scope, deliverables, timeline, payment, and cancellation policies of the deal. You should also read the fine print and look for any hidden fees, clauses, or liabilities. If you have any questions or doubts, don't hesitate to ask for clarification or verification. You should also keep copies of all the contracts and receipts for your records.

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5 Follow up and evaluate

After the deal is done, you should follow up with the parties involved and thank them for their cooperation and collaboration. You should also monitor the progress and performance of the deal, and provide feedback and support as needed. You should also evaluate the results and outcomes of the deal, and identify what worked well and what could be improved. This will help you learn from your experience and improve your negotiation skills for future projects.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Thorben Grosser

Fixer of Things. Breaker of Things. Let me help you fix your event technology problem.
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In addition to the outlined strategies, securing a mentor is invaluable. Engaging with an experienced individual in the event planning field offers you an opportunity to learn from their insights and pitfalls. A mentor acts as a sounding board for your ideas, guiding you through complex negotiations and providing feedback on your approaches. This relationship enriches your skill set, enabling you to navigate challenges with wisdom beyond your years. Embrace the mentorship journey as a key tool in your professional development arsenal.

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What do you do if you're an entry-level event planner negotiating contracts and deals?

1

2

3

4

5

6

1 Know your budget

2 Build rapport and trust

3 Be prepared and confident

4 Review and document everything

5 Follow up and evaluate

6 Here’s what else to consider

Event Planning

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What do you do if you're an entry-level event planner negotiating contracts and deals?

1

2

3

4

5

6

1 Know your budget

2 Build rapport and trust

3 Be prepared and confident

4 Review and document everything

5 Follow up and evaluate

6 Here’s what else to consider

Event Planning

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