Why do so many deals that look good on paper end up in tatters? Deal makers often treat the handshake or signed contract - getting to "yes" - as the final destination in their bargaining journey rather than the start of a cooperative venture.Even worse, most companies reward negotiators on the basis of the number and size of the deals they're signing, giving them no incentive to negotiate deals that actually work.
In The Point of the Deal, Danny Ertel and Mark Gordon explain how to transition from a deal-maker mentality (focusing on making the agreement) to an implementation mind-set (ensuring the deal generates value for your company after the ink on the contract has dried). The authors show you how to:
Treat the deal as a means, not an end, by asking what you need from your counterpart over and above a "yes".
Consult stakeholders, determining whom you'll need to get to "yes" and beyond
Set precedents that will help guide joint behavior after you've signed the deal
Air your concerns - in ways that still get you to "yes" and beyond
Help your counterparts avoid overcommitting - maximizing the likelihood they'll be able to deliver on their part of the bargain
Run past the finish line - by articulating how you'll get from "yes" to your final destination
With a wealth of examples from multiple industries, countries, and functions, the authors illustrate how their approach to instilling an implementation mind-set works in all kinds of familiar contexts for business deals - including mergers and acquisitions, joint ventures, alliances, outsourcing arrangements, and customer and supplier relationships.
The Point of the Deal not only offers crucial advice for individual negotiators and teams, it also enables managers to treat negotiation as a critical business process that drives real value for their organizations.