5 ways to prepare for a successful negotiation meeting

The best-laid plans of mice and men often go awry. (Sidney Sheldon). Even when you have been declared the winner of a consultancy bid, things can still fall apart if you do not manage the inception meeting well. A few examples: some clients request price negotiations –downwards, and in your eagerness to dance on their side, you reduce the price to a loss-maker; other clients introduce additional ‘small activities’ which enlarge unexpectedly to become your Achilles heel, and then there are clients who will try to steer you away from your proposed implementation plan which can compromise delivery timelines and the quality of work.

The inception meeting is not the time for a victory dance; instead, be prepared to build client confidence in your ability to deliver by managing expectations at all levels.

1.?????Dress like the delivery guy –full regalia for your field. The only people who have the luxury of appearing how they want are those who have nothing to lose. First impressions still matter, even when your client is the one wearing white sneaks and a pink tee.

2.?????Be clear about the scope of work and key expectations. Recite this to the client in detail because in many cases, terms of reference are vague or inaccurate and may not capture the entire range of actual deliverables. If there is a task that was not explicitly stated in the terms, it is important to highlight that and negotiate to have it removed or billed at an additional cost. ?Develop a checklist before the meeting for all red flags and grey areas in the terms so that these can be discussed before project launch.

?A plan B for execution should also be part of the inception discussion. It may not be the optimum choice, however, if you are able to bring it to the table, you’re building client confidence in your ability to execute through problem-solving.

?3.?????Have a minimum price threshold in your head. I won’t forget the day, seated in a client’s office working on an Excel sheet to revise a month-long budget in 10 minutes. Ordinarily, we would have requested a 24-hour period to re-work the budget, but we needed to prove to the client there and then that the price we had quoted was actually discounted and fair market rate. Once the client received the updated budget and saw the discount, their attitude instantly changed and they became more amiable and amenable to our implementation plan. Money matters a lot; even to the big-budget clients so polish up your spreadsheet skills to automate ‘what-ifs’.

As much as possible be willing to discount items that will not affect the quality of your work. Do not go below your minimum price threshold to secure the business –that’s like shooting your foot to get back at your hand. ?The ability to price properly for your work is a key skill for every consultant –inflate, and you’re considered a thug, under-cost and you’re an amateur. Research typical market rates for your level of experience.

?4.?????Your portfolio speaks loudest. Although clients should have already done due diligence and requested samples or references to your previous work, showing them some of your best work during the inception meeting will help to clarify expectations as well as assure them that you can deliver.

Note: Avoid projectors like a plague. Ninety percent of the time projectors act up and fail to connect to your laptop or even the client’s laptop. (Don’t even bother carrying a flash disk –most clients will not allow flash disks outside the organisation.) Instead, prepare to share a cloud-based link for your portfolio on platforms like Google Drive, Dropbox, Microsoft OneDrive, or a website.

5.?????Exercise emotional intelligence and make a friend. A large part of successful consultancy practice is being able to build relationships with influencers or decision-makers within organisations. During the inception meeting, observe and read the room to gain an ally – usually, the person who asks the most questions or a key decision-maker. This will serve you well when you need sign-offs, approvals or when things have stalled and you need a mover/shaker to reach out to.

The inception meeting is the place to show enthusiasm and bring positive energy; clients want to feel that you care about what they have achieved. Nobody wants to work with a somber straitjacket. Find something light-hearted to build rapport but avoid political, religious, racial, or gender-biased quips –you may unwittingly stir up a hornet’s nest. Topics like sport, television shows, or work challenges are usually safe if you can find the humour in them.

Think of a negotiation meeting as the place where everyone walks away a winner; this will prepare you to provide solutions rather than throw up walls.

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