How do I know that my workshops are making a difference in people’s lives? That what I teach helps companies save money and time?
Because I hear from participants who share their success stories. This week’s Rock Star student is Melanie, the director of administration at a New York City law firm. Melanie attended my workshop at the Association of Legal Administrators (ALA) 2010 Annual Conference in Boston.
The session, titled Equipment Leasing: The Fine Print Financial Implications, provided attendees with the straight story on equipment leasing.
Melanie called me to share her great news. She used her new lease secrets and tips to save her law firm more than $14,436 on a single copier lease!
She reduced expenses by asking the copier vendor questions. Why was he offering a 63-month lease term? Why is the payment $1,280 if this copier is not equipped with the bells and whistles of the firm’s other digital copiers?
Melanie told me that while in my workshop she thought, “I can’t wait to get back to the office and read that copier lease. I bet there are problems in it.”
What did our Rock Star Negotiator uncover?
1. A six-month automatic renewal. She negotiated that down to a month-to-month renewal provision. Her work gives the firm more end-of-lease flexibility and avoids an expensive extended term.
2. Melanie figured the payment was too high for such a simple copier and negotiated the payment down to $879 a month. Savings: $401 per month!
3. She also negotiated full maintenance into the $879 payment. Maintenance was extra on some of the firm’s copiers.
4. The supplier had recommended three copiers ranging in speed from 60-90 pages per minute. Melanie knew that the electrical capacity for the proposed copier area would not support the 90-page machine. She also knew that a 60-page unit would easily handle the planned project volume. She avoided the cost of added electrical wiring too.
This is one smart law firm administrator! The firm’s ROI by sending Melanie to the ALA Conference was immediate. A 700% ROI in only two weeks! Wish I could get that kind of return in the stock market.
When you invest in good people and their professional growth, it pays big dividends.
What about you? Do you have stories of how you negotiated a better equipment lease? Comment on this blog and share your experiences.