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Workshop Overview
Negotiating fees means getting the right fee to compete in the market whilst motivating the best quality work.
Negotiating fees is partly about building value and partly about using the techniques of negotiating to make sure an appropriate fee structure is agreed.
In such a competitive market it is important to focus on negotiations and on the skills of the client partner to negotiate. This practical workshop introduces the key skills required and reviews the participants abilities in the context of their practice areas.
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Pre workshop activity
- Meeting to discuss the participant’s needs and those of the firm or practice area
- Draft workshop outline tailored to your needs
- Agreement of agenda
- Participants complete a short questionnaire and read the ITD Work Style Model in preparation for the workshop.
Duration
- Half a day to a full day, or two half days.
Typical Agenda
- Introductions & objectives
- Practice area differences
- Deciding the overall approach to the negotiation
- Understanding the personality & possible approach of the client/prospect
- Understanding their perception of value
- Building value
- Brainstorning the scope boundaries
- Negotiating the scope of work, investing time at the beginning
- Can future work be included in the negotiation
- Negotiating tips on words to use & not use
- Managing expectations
- Considering success uplifts
- Negotiating caps
- Involving payment terms in the negotiation
- Structuring discounts
- Negotiating tips and strategies
- Breaking fee structures down
- Negotiating the headline fee
- Practice scenarios
- Personal actions
Post workshop activity
- Participants leave with individual actions
- Email follow up of personal action plans
- Suggested conversation with partners
- Optional WebEx conference call follow up on these actions
- Optional 121 coaching
- ITD blog with further tips and suggestions
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Client feedback
- “The workshop was very engaging and specific to our needs.”
- “Good comfortable atmosphere created from the start.”
Participant comments
- “Very interesting and useful tips.”
- “It was good to look at specific situations that we face.”
Call or email ITD to explore how we can help your partners become better at negotiating fees
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Partners – Negotiating Fees