Managing Business Deals

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It’s not just about generating sales. It’s also necessary to ensure that the deal is profitable for both parties. This means reducing the risk by engaging in negotiations with a sense of urgency and staying clear of deals that could prove costly for your company in the end, either through a decrease in brand recognition or capturing minimal margins.

To make intelligent decisions at each step of a business transaction, your team must have access to all the right information. It is essential to use revenue management software that is able to convert your data into contextual notifications. Revenue Grid alerts you when an additional step is added to an opportunity. They also notify you if an email sequence fails or the sale has been dropped.

Having the right data will allow you to build trust and confidence with your clients in negotiations. Pay attention to any hesitations or worries in their conversations and empathize with them so you can address their concerns, show how your solution is more suitable, and create an agreement that is win-win. You should also consider your own goals when negotiating to balance short-term advantages with future ones. For this, consider leveraging multiple offers that have different terms, but the same value overall. This strategy is known as Multiple Equivalent Simultaneous Offers (or MESO). By taking a proactive approach to negotiations and writing the contract in a draft format with your objectives in mind, you’re less likely to be the victim of drastic edits that diminish the value of a deal.