Surefire Tips for Establishing Winning Negotiations Amid an Ever-Changing Economy Will it be a buyer’s or seller’s market for planners in 2011? Arthur Backal CEO and Founder, Backal Hospitality Group State of the Art Enterprises

Experience & Expertise Hospitality: A to Z

A Unique Perspective: A view from all sides Suppliers: Representing businesses eager to build presence Suppliers: Representing businesses eager to build presence Clients: Creating unparalleled events, using the best possible suppliers Clients: Creating unparalleled events, using the best possible suppliers Planners: Making it all happen Planners: Making it all happen

A Lexicon for Success Unique EFFICIENCY STYLE EXCELLENCE Result-oriented Energy Business building Vitality ARTISTRY DISTINCTION Professionalism Innovative MAGNETIC FUN

Today’s Topic: Establishing Winning Negotiations...

“Let’s Make a Deal” 3 Curtains to Choose from There is something of value to everyone  Flat Screen TV  Diamond Earrings  Sub-Zero Fridge

The Artistry of the Deal Everyone goes home a winner... Or thinks they did!

Lessons Applied Producing an event involves 3 “curtains” Producing an event involves 3 “curtains” Clients Clients Suppliers Suppliers Planners Planners Successful negotiation leaves all feeling like winning contestants Successful negotiation leaves all feeling like winning contestants

Curtain #1: Clients

Clients: Behind the Curtain More access to information More access to information Better educated about market Better educated about market Tighter budgets Tighter budgets Understand that everything is negotiable Understand that everything is negotiable More internal governance & regulation More internal governance & regulation Sensitivity to market perceptions Sensitivity to market perceptions Excesses of financial institutions Excesses of financial institutions Image-centric businesses (fashion, beauty) Image-centric businesses (fashion, beauty)

Curtain #2: Suppliers

Suppliers: Behind the Curtain Internet has created an instant, searchable, global marketplace for products & services Internet has created an instant, searchable, global marketplace for products & services More supply = Greater price elasticity More supply = Greater price elasticity Pressure to keep pipeline filled Pressure to keep pipeline filled Only as good as your last event Only as good as your last event Loyalty is tied to outcomes including budget Loyalty is tied to outcomes including budget Search out new ways to build business Search out new ways to build business

Curtain #3: Planners

Planners: Behind the Curtain Creating a great event isn’t enough Creating a great event isn’t enough Sourcing great providers isn’t enough Sourcing great providers isn’t enough Must be a better businessperson Must be a better businessperson Creativity PLUS fiscal responsibility Creativity PLUS fiscal responsibility Continually prove your worth Continually prove your worth Dispel notion that planners are luxury Dispel notion that planners are luxury Validate client decision to hire planner Validate client decision to hire planner

So, where do we go from here?

Clients: Endgame Greater price flexibility from suppliers Greater price flexibility from suppliers Extras! Extras! Read all about ‘em! Extras! Extras! Read all about ‘em! Services, amenities, upgrades have more value than in passed decades Services, amenities, upgrades have more value than in passed decades Successful outcomes Successful outcomes On budget On budget Satisfied clients (colleagues; management) Satisfied clients (colleagues; management) Validation of decision to hire a planner Validation of decision to hire a planner

Suppliers: Endgame Established relationships Established relationships Become the “Go-to” suppliers Become the “Go-to” suppliers Repeat & referral customers Repeat & referral customers Finding the untapped niches Finding the untapped niches Strategic alliances Strategic alliances Sound business results Sound business results

Planners: Endgame Successful events Successful events Referral & repeat business Referral & repeat business Sound business results Sound business results

2011: It’s NOT the Economy!

Some More Planning Tips...

Focus on Your Goals for 2011 Change the Way People Think on ALL Sides of a Deal Be HUNGRY for New Opportunities Set Reasonable Goals Establish Achievable Budgets Clearly Articulate Objective of Event and Let it Drive the Process Curb your Client’s Enthusiasm DO Get a Vendor on Your Side & DON’T Let Money Come Between You Reinforce Client’s Decision to Hire Planner

Surefire Tips for Establishing Winning Negotiations Amid an Ever-Changing Economy THANK YOU!!! Arthur Backal CEO and Founder, Backal Hospitality Group State of the Art Enterprises