Managing Business Deals

Management of business deals goes beyond than just making sales it’s about making sure that every deal is financially sound for both parties. This means minimizing risk by engaging in negotiations with a sense of urgency and making sure that deals aren’t costly for your company in the long run, whether through the devaluation of brand perceptions or capturing a small margin.

To make informed decisions at every phase of a business deal, your team must have access to all the relevant data. It’s crucial to use revenue management software that is able to convert your data into relevant notifications. Alerts on the Revenue Grid let you know that a step next to take has been added to an opportunity, or when an email sequence is not working and when an offer has been cancelled–all of which help to ensure that your reps are taking the appropriate actions at the right moment.

Having the right data will also help you build trust and a relationship with your clients during negotiations. Be attentive to any hesitations or concerns in their conversations and understand them so that you can meet their needs, demonstrate how your solution is better suited and then create an opportunity for both sides to win. It is also important to consider your own goals and concerns in negotiations so that you can weigh short-term gains against the benefits the opportunities that are waiting with virtual data rooms of the future. To achieve this, you must leverage multiple offers that have different terms, but with the same overall value. This method is known as Multiple Equivalent Simultaneous Offers (or MESO). By creating a contract draft with your business goals in mind, you are less likely to fall victim of extreme edits which could reduce the value of the bargain.