The Ultimate Guide to Securing a Business Deal
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Whether you’re in business for yourself or you’re in business for someone else, it’s entirely possible that throughout your career you may be required to close a business deal. It can seem extremely daunting and worrying trying to do so, especially if you’re looking for that enormous client that you need to impress. If you’ve never done so before, you might be wondering just how you can get that contract signed and the money coming in from your new agreement, and this is why we’ve put together this useful ultimate guide to securing a business deal.
Identify The Person Who Will Make The Final Call
Probably the most effective way to close a business deal is to know the decision maker – not personally of course, but knowing who they are means you can tailor your sales pitch to their liking, which means you’re more likely to secure the deal. A generic deal not tailored to a specific person may be more likely to fall through as the decision maker may see no actual value in it, which means you come up short. Knowing who has the final say means you can tailor the deal like a CV designed to catch an employer’s eye.
Make The Deal Sound Like The Best Opportunity Ever
The more urgent a deal sounds, the more likely you will be to get an answer quickly. Urgency will also make the deal sound like it’s a one time only kind of offer or that it’s been designed specifically for the client in mind, making them more likely to sign a contract. Not only that, but the more rare a deal seems to a client, the more appealing it can sound, leading to the closing of the agreement.
Make Sure The Client Feels Valued
A key aspect to closing a business deal is making sure your client feels valued and also sees value from the deal. A huge way to do this is to ensure you know the client, know what they want, need and expect. Creating a valuable relationship with your client can help you secure business deals you never expected. A lot of businesses take clients out for special business lunches or to places for entertainment – to help foster a relationship that goes beyond just business, a beneficial move to help the client view you as more than a business partner or provider and as another human being they can relate to.
Going into a business deal well prepared is also helpful to closing a deal. Practice your pitch in advance of the deal and ensure you are ready to field any questions that may come your way throughout the meeting. Knowing what to expect will go a long way to helping the client feel at ease with you and your business and will help create trust that can lead to the signing of the contract.
Know Your Competition
A final way you can really seal the deal is to know your competition. This is key in business anyway so you know what you’re up against and how to beat them, but in client-business partnerships it’s especially key so you can promote yourself above and beyond what the competition is providing. If you don’t know them, how can you know what to provide or how to beat them? Take time to examine and get to know them before you have your business meetings about partnerships. You’ll be glad you did.
So if you’re trying to wow a client – whether it’s your first for fiftieth time – hopefully this list will give you a good outline of what to prepare for and what to expect from future business deals and meetings so you can get that signature on the dotted line. Good luck!