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30 Tips for Keeping Meeting Expenses to a Minimum
Money makes the world go 'round. And when it comes to meeting planning, money can probably get you whatever you want. However, few event planners have the luxury of an unlimited budget. Your boss may like to drink champagne on a beer budget. In other words, caution you to spend less, but expect miracles at the same time. Preparing and managing a realistic budget is serious business, but to score "big boss" points you also need to be a savvy negotiator and cost-cutting aficionado. To help you on your way, here are 30 tips in a variety of different areas to keep your meeting expenses at a minimum without losing quality you strive for. 1. Keep your budget flexible. Be prepared to build in a contingency of 10 percent into your total budget to take care of any unexpected expenses and emergencies. Unforeseen or overlooked costs such as, overtime, overnight mailings, phone and computer hookups or speaker substitutions could skyrocket your budget. 2. Check all invoices. Question anything on your invoices that doesn't compute against the written quotation. Scrutinize your hotel/facility and food and beverage invoices while on-site. Ironing out discrepancies in person is much easier than over the phone. 3. Limit authorization. Only a select few should have the authority to charge items to your master account at the hotel. Make sure hotel has a list of these people, and refuse to pay for charges signed by unauthorized personnel. 4. Review accounts daily. To avoid any major surprises or heart failures when you see the final bill, review your accounts with the facility on a daily basis. It's easier to spot errors or make necessary changes if costs are escalating in certain areas. 5. Schedule during low-usage times. If you have the flexibility, consider scheduling your meetings during low seasons or days of the week when the facility is less busy. Booking near holidays such as Easter, Memorial Day, and Labor Day might definitely be to your advantageous. 6. Ask for the best rates. Do your research. Check out the rack rates, corporate rates, AAA discounts and so on, and compare them to the group rates you are being offered. Call the toll-free reservation desk for information. 7. Confirm and reconfirm your dates and event details. Overlooking a detail may cost you big bucks. 8. Request a discount for on-site payments. When the facility doesn't have to wait for payment because you arrange to pay immediately after the event or as the meeting is ending, they may well be open to a discount for prompt payment. 9. Be conservative with room blocks. With more and more guests using discounted hotel sites for room bookings, attrition on unused rooms can get very expensive. 10. Negotiate comp rooms. As part of your discussions with hotel management, negotiate comp or discounted rooms for speakers, staffs and or upgrades for VIPs. 11. Understand your cancellation clause. Don't sign anything you are not completely happy with. Be certain that your cancellation clause is reciprocal, so that both parties get the option to back out of the contract before a specified date, in case of any changes to the original agreement. 12. Negotiate set prices. To help with your budgeting, arrange to pay a specified amount on food and beverages during your entire event, rather than a rate per person, per function. 13. Consult a tax attorney. Investigate tax laws for your business location and the event location. You may be eligible for tax breaks that you are not claiming. 14. Keep room setup simple. Wherever possible use theater style (where only chairs are used) as it is less labor-intensive than classroom-style (which includes both table and chairs), thus lowering setup costs. Also, plan to keep setups the same from day to day. 15. Check into other groups. Find out about groups holding their meeting prior to and after yours and discuss staging needs. You may find that you can save on setup and teardown if you all have the same or very similar requirements. 16. Investigate sponsorship opportunities. Find sponsors to cover as many of your program expenses as possible, especially speaker fees, audiovisual equipment, and special meal functions. 17. Investigate grants. Although it might be a time-consuming exercise, you might look into specific federal, state, local or corporate grants that might be available for holding your meeting. 18. Use industry experts. To save on speaker expenses, consider using industry experts whose companies often pay expenses. Alternatively, use local speakers where appropriate to save on travel expenses. However, check how good they are before hiring them. You may end up with a dud! 19. Avoid renting unnecessary equipment. Double check speaker needs for audiovisual equipment to avoid renting unnecessary items. 20. Keep signage simple and reusable. Consider investing in a laminating machine to make your own signs. 21. Discuss economical audiovisual setups. Limit the number of microphones needed. Check if the hotel supplies a complimentary microphone in each meeting room. Skirt a cocktail table instead of renting special carts for A/V equipment. 22. Use outside suppliers. Look outside the hotel for possible audiovisual suppliers whose prices may be more competitive than those in-house. However, the hotel may match the other supplier's prices if asked. 23. Save on transportation. Use airport shuttles instead of taxis. If you have a sizeable group attending your event, negotiate special discounts with the shuttle bus company. Alternatively, check if the local taxicab company can provide discount coupons. 24. Arrange for one room. For smaller committee meetings that may be held during a larger conference arrange for a buffet luncheon to be held in the same room as the meeting to save on having to rent a separate room. 25. Negotiate food. Negotiate paying for food based on consumption. You can then return food without having to pay for it. 26. Minimize portions. Sever mini-Danishes, muffins and doughnuts, or cut larger servings in half. Many people (especially women and dieters) only want half to start with. Alternatively, serve a continental breakfast instead of a full breakfast buffet. 27. Opt for fewer choices. When it comes to hors d'oeuvres, go for fewer choices in larger quantities rather than a large selection in smaller quantities. And, remember to avoid the shrimp. People inhale it. There's never enough!!! 28. Check for dead stock. Check if the hotel has dead stock wine available (such as wine that in no longer on the wine list). You may be able to negotiate a great price for some really good quality wine. 29. Store opened bottles. Find out if the hotel can store opened bottles of liquor from one reception and us them another reception during the same conference. 30. Open bottles as needed. As the banquet captain to open wine bottles only as needed. You pay for every bottle that's been uncorked. Bonus tip: Avoid salty foods during receptions as it encourages people to drink more. About The Author Written by Susan A. Friedmann,CSP, The Tradeshow Coach, Lake Placid, NY, author: "Meeting & Event Planning for Dummies," working with companies to improve their meeting and event success through coaching, consulting and training. Go to http://www.thetradeshowcoach.com to sign up for a free copy of ExhibitSmart Tips of the Week.
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a href="http://www.elearn-university.com/Careers/coaching/index.php" class="nav">Coaching Negotiate Your Way to a Better Salary 1. Be persuasive: It's hard to force your boss to increase your compensation, and trying to do so can potentially damage your working relationship. On the other hand, it's much easier to persuade her or him that it might benefit the organisation to pay you more, and that doing so will likely improve the way you deal with each other going forward. Negotiate Like a P.R.O. Whether you are negotiating a peace settlement in a war-torn country or a peace settlement in an argument-ravaged relationship, strong preparation is the key to success. Communicating Across Time Horizons There was a time in my life when I sold life insurance. Well, to be frank, I tried to sell life insurance. With little success. Managing the Sales Negotiation Process How many times have you heard: Secrets of the Trade Revealed: Bartering for Business In its simplest form, bartering involves an equal trade. One business swaps a good or service for another. A lawyer, for example, may swap a few hours of legal assistance for a stay at an out-of-town hotel. What Are The Four Types Of Negotiating Outcomes? Negotiating outcomes are the types of results that can happen at the end of a negotiation. All negotiations end up with one out of four possible outcomes: one party wins and the other loses, both parties lose, they get stuck in a stalemate, or both end up winning. Obviously, the goal in a cooperative negotiation is for both parties to walk away with their needs being satisfied. Familiarize yourself with the four different negotiating outcomes and make it your goal to aim for a mutually-beneficial outcome. Are You Scaring Away Potential Customers? When you are trying to make a sale and ask someone to fill out a credit application and new account form, do your potential customers turn around and run to the competition? Resolve Conflict In 6 Easy Steps - The BEDROL Method The principles of Negotiation can work for you in any situation, but often people ask me, "Well, its often a fact that conflict happens unexpectedly. What if I don't have time to prepare? Can negotiation skills be used on the spur of the moment?" The answer is YES. The principles of Street Negotiation were created and battle-tested on the streets and it's power lies in its ability to be used to resolve any conflict anytime. Conflict can be resolved in six easy to learn steps, acronymed as BEDROL(TM). That is: Back-up plan, Emotional control, Defusing their anger, Reframing, Options, and Letting them choose their fate. Just Ask! Ask and you shall receive & knock and it shall be opened &send an email and see what happens. Negotiating: Forcing vs Compromising Forcing is a hard-nosed approach that makes heavy demands from the outset. Emotions are displayed frequently, few concessions are made, and the bottom line may be concealed. This technique is used when the other side is determined to make you lose, or in one-shot deals. One advantage of this approach is that it normally uses less time than other approaches and leads to total victory if you have more power than the other side. The disadvantage of forcing is that it can lead to stalemate if the other side uses the same approach. The other side can also become resentful and vengeful. Win-Win Power Negotiating Let's talk about win-win negotiating. Instead of trying to dominate the other person and trick him into doing things he wouldn't normally do, I believe that you should work with the other person to work out your problems and develop a solution with which both of you can win. Negotiating Skills: Ask For More Than You Expect To Get It creates some negotiating room, and you might just get what you are asking for. Negotiating Tactics: How To Strike A Negotiable Opening Shot There is no right or wrong to fire up your opening negotiation... Cross Cultural Negotiations Cross cultural negotiation is one of many specialized areas within the wider field of cross cultural communications. By taking cross cultural negotiation training, negotiators and sales personnel give themselves an advantage over competitors. Suppliers as Your Partners in Cost Reduction This article is one of the many articles still to come in which I will discuss very basic yet proven techniques that you could use immediately in your encounters with your suppliers. The Six Rs for Changing MInds and Overcoming Resistance This article borrows from Howard Gardner's book, "Changing Minds" (2004). In order to get people in conflict to cooperate or collaborate sufficiently to settle or resolve their differences, and perhaps achieve reconciliation, it is necessary that they change their minds. The reason they are in dispute is because they are of two different minds about a particular thing, which is what they are fighting over. People do not change their minds easily. Some people are prepared to be burned at the stake, literally, rather than change their minds, or admit to a change of belief. People cling to the artifacts of their own minds with great stubbornness. This is called resistance. When a mediator seeks to bring parties together, she will encounter resistance. If there were no resistance, if changing minds was easy, there would be no need for mediators. National and Cultural Negotiation Style Cultural and national negotiation styles reflect communication behaviors and the priorities of that culture. Priorities such as trust, teamwork, non-confrontational situations, and openness are all along a sliding scale with each culture. The communication behaviors of each culture reflect these priorities and can dictate how a culture will engage in negotiations. Often, Japanese and other Asian negotiators will plan a social event and dinner before any real negotiations occur. Likewise, Americans place an emphasis on taking clients out to dinner and a round of golf. Engaging in this type of activity builds trust and opens the line of communication between the two parties. Using persuasive techniques to "connect" with another person can lead to trust and the sense of a relationship being built. The negotiation styles of these two cultures mesh well, thus allowing them to understand the priorities of each other's culture. How To Communicate Using Space What Is Proxemics? Making the Deal: Women as Negotiators Negotiating is no game. It is not for the weak or the fragile. It takes assertiveness and someone who feels comfortable in the mano-a-mano world of business. Can women negotiate the deal as well as their male counterparts? Absolutely! In some cases, they may even do a better job. Women have a definite edge at the negotiating table because of their instincts and natural power of persuasion. Negotiating Tactics: Don't Let ?Good Guy Bad Guy? Control the Sales Negotiation Counter one of the classic negotiating gambits by addressing it directly.
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