If you need to make deals—business agreements or arrangements for corporate growth—you need to know how to play the “deal-game.” I have summarized the key prerequisites for deal-making success from this book as follows.
In turn, to summarize key ingredients for better individual deal-closing:
• Understand and support your bargaining power—emotional intelligence is key, including in relation to timing;
• Be specific about your offer, how you can deliver it and what you want in return;
• Be confident enough to be flexible and perhaps adapt your deal positioning;
• Remember, “No” does not mean give up, rather it can be a reason to pivot, amend, and refresh; and
• Always seek ethical, win-win deals—this does not mean surrender and never give anything for free.
Deal-closing capabilities are innate abilities and, as you will now have seen, the premise of this book is that it is not difficult to develop, enhance, and expand these life skills provided you follow some simple steps as set out in the seven P approach to successful business deal execution:
1. Principles—some deal-closing fundamentals.
2. Planning—if you fail to plan you plan to fail.
3. Power—the power balance is pivotal to the deal.
4. Players—who is who on both sides of the deal.
5. Performance—deal performance is all.
6. Putting It All to Bed—the deal close is critical.
7. Pay-Out or Post-Mortem—win or lose, learn for the next time.
Simon writes, speaks, and mentors extensively on the subjects of deal-closing, strategy, business and leadership and can be contacted at firstname.lastname@example.org or through email@example.com for any related relevant requests.