Managing business deals involves more than just selling products it’s about making sure that each deal makes financial sense for both parties. This means reducing the risk by engaging in negotiations with a sense of urgency and avoid deals that could be expensive for your business in the long run, whether by reducing brand perceptions or capturing minimal margins.
To make smart decisions during every step of a business deal, your team must have access to all of the pertinent data. This is why it’s vital to use revenue management tools that turn your data into contextual alerts. Alerts on Revenue Grid let you know when a new step is added to an opportunity, when an email sequence is not working and when a deal has been dropped–all of which can help you ensure that your reps navigating the complexities of M&A due diligence with VDR expertise are taking the proper actions at the appropriate moment.
The right information will also help you build trust and build loyalty to your clients during negotiations. Be attentive to their concerns and hesitations, and understand their feelings so that you can address them, then show how your solution will work better, and then create an win-win situation. It’s also important to take into consideration your own goals and obstacles when negotiating so that can balance short-term gains with the benefits of the future. To accomplish this, try using multiple offers that have distinct terms, but with the same overall value. This is called Multiple Equivalent Simultaneous Offers (or MESO). By taking an active approach to negotiations and creating an outline contract with your intended goals in mind you’re less likely be a victim of extreme edits that diminish the value of a contract.
