The basis of any business is a deal execution process. Many years of practical experience as entrepreneurs allowed us to form several basic steps for concluding a successful deal, which will be satisfied by all parties.
How to Become a Successful Deal Executor or a Perfect Salesperson?
Competence in any field of activity necessarily implies the possession of basic knowledge in the relevant field of science. So, specialists in chemical products should be on top of the periodic table, physicists – nowhere without Newton’s laws (and other laws too), psychologists need to be familiar with Freud’s ideas, and politicians – with Marxist teachings.
Good salespeople are not born. Anyone can learn how to sell if they are purposeful and inquisitive enough. If you are a good seller and not a manipulator, then the selling process for you is what you do for the client, not with him. Ultimately – with the right deal – the buyer should always win more than the seller.
The attractiveness of the potential opportunities opening up for the merging companies is marked by a significant number of integration processes. Mergers and acquisitions are considered by many enterprises as a way to optimize production assets in accordance with the changing market situation as a way to achieve competitive advantages. That is why many experts are engaged in research in this area, each of which is trying to draw up a universal project for the processes of mergers and acquisitions of enterprises.
Which Are Key Components of Successful Deal Execution Process?
Strategic aspects are the main ones for making managerial decisions about mergers or acquisitions, as well as any other deal execution process. The ability to adapt to macroeconomic conditions and the constantly changing and increasingly complex needs of customers is a condition for the survival and development of a business. It is obvious that if a company does not expand the scale of its activities and/or does not adapt to constantly changing external conditions, then it puts its future in question. The desire for growth is, in many cases, reinforced by the influence of entrepreneurs who have created and developed a particular business.
Among key components of a successful deal execution process are:
- Don’t let me trip you up.
- Don’t let the buyer confuse you.
- Talk to the buyer as if the product or service you are offering already belongs to him.
- Do not immediately start defending or arguing a proposal. Argument breeds hostility, and you want the buyer to be positive.
- Getting to know a potential buyer.
- Each of the steps must be performed strictly sequentially.
- The effectiveness of their communications must be monitored and adjustments made to the negotiations in case of deviations from the set course.
- When searching for customers, it is necessary to identify the people who make decisions and offer goods and services to them.
The right choice of deal execution strategy allows you to achieve many different goals. This is not only an increase in indicators but also a reduction in risks or a business out of a difficult situation. If we are talking about a group of companies, then not every component of it generates the expected income. It’s time to sell the business in order to invest in a more profitable direction or optimize your work.