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Why the Venue Matters When You Negotiate a Business Deal

by / Tuesday, 04 October 2016 / Published in General

Good accommodation is in big demand. It’s not just about living – it’s equally important not just for where you will sleep tonight, but similarly – where you are going to meet your clients and partners. If you own a company, for example, you don’t want your lobby to be unwelcoming or shabby.

Something similar happens with businessmen and company owners who come together and talk business over drinks, golf, and in some cases – even video games. It’s always an interesting thing to see how people connect.

The success of your next business deal might hinge on the venue you pick, so you need to pick well. Today, you will find out about MICE and why it matters.

What’s MICE and Why Should You Care

MICE stands for the business of Meetings, Incentives, Conferences, and Exhibitions. Or in other words – Las Vegas. You might think that Vegas is just a hub where people go to make a fortune or lose it all. Well, this is partly true, but Las Vegas in Nevada, Atlantic City in New Jersey and Macau in Asia, are all important not by virtue of their casinos. They also offer plenty of meeting and conference spaces which are important for people who hope to seal a big business deal.

Even Forbes cares deeply about the best venues to hold a meeting or a conference, and this is why following up with one of these recommendations might give you a distinct edge with your new found partners.

There is more of course. You don’t need to book a conference room in an MGM Resorts property when a nice and little more secluded area would do. It really depends on the business you are trying to develop, but there are many options to book.

Some people like golf and they know that their potential partners also do. For better or for worse, the world tends to make compromises when it comes to things everyone likes.

Something similar happens in business as well. Of course, there are all sorts of things that can happen during a meeting that would determine your future business ties with an important client. That’s why it’s a good idea to be prepared.

Even the most quotidian situations need to be addressed aptly. Imagine that you have decided to take your clients to a villa you own, but you realize that you have forgotten your keys. You can still come up with an alternative that would save you time, such as looking up a locksmith service. Simply type in “emergency locksmith near me,” and refer to the results to get yourself a reliable service.

Boost Your Chances of Closing a Deal

The choice of venue shouldn’t be random. Many people tend to meet in public, but some more private people would much rather have a quiet place where they can discuss their business. It helps to research and find out more about the people you intend to negotiate with.

Delivering a perfect place for every individual future business partner you will have, can help you, in turn, get to the point where your success rate is higher than your competitors. Attentiveness is important and while a client would probably know that you have researched them, the decision to choose something that specifically appeals to them is a great gesture that will most likely drive your results.

The essence of MICE certainly favors the hosts and venues that have decided to conduct such affairs, but the truth is that your own benefits out of picking a brilliant conference room or a place are huge. Closing a deal could be the difference between profit and loss. Remind yourself to always be prepared. Even something as every day as an emergency locksmith service might be a good idea to keep in mind, so please do.

What Venue Should You Pick?

This is a good question. You can go for a generally acceptable hotel or you can personalize matters and make sure that you are offering an experience that is closer to the identity of your target audience. Even then, booking a conference room and providing small snacks and beverages is perfectly acceptable. The bulk of your success will be based on how good your presentation is – might as well do it in a place that looks stylish or meaningful and therefore helps you reinforce your points.

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