The Key to Making a Deal

On Friday I met up with an old friend and had lunch, my friend Jim has been in business for a number of years, through out his career he has seen many people start a business and fail. No doubt Jim has been very successful in any venture with he has entered. Even when the bottom of the economy fell in back in o8-09 Jim was successful, making deals and growing his business.

In Maine any venture is or can be a challenge, there’s not a lot folks who have money, so you must be trusted before people with do business with you. Jim’s business is a brick and mortar model, he’d built with many hours of hard work and dedication. So it’s no wonder the question arouse during lunch…I asked him to describe some of the keys to a successful business, although a very humble and generous man, his answer took me a bit by surprise.

I was expecting to hear how hard work long hours and keeping ahead of the guy behind you were going to be the first thing out of his mouth, instead he smiled paused and said…Steve it’s not what you get it’s what you give…In any business you must make some sort of a deal, from a sale or and order, service, product anything which requires satisfying a customer. You must put aside what you want, although it’s important to understand what’s driving you, first you need to determine what your potential customer wants.

Steve in any deal the customer must feel their needs have been met before they will do business with you. The problem must be solved before any negotiating can begin, this is where most small business go wrong, it is thought you know what your customer wants and let him or her know you can solve their problem…Right?

Have you ever went to purchase a new car and one of those fast talking salesman comes u to you telling you that car is all you…I have a deal for you! This car just hit the lot but I’ve got two other people looking at that same car! Sound familiar? Would you buy that car? Or would you leave that lot and keep looking? What if that same salesman asked you to come into his office, asked if he could get you anything? then began to ask you what type of car, color, year and budget you felt comfortable with first before you test drove one car.

Do you think the outcome will be the same for the first salesman? Who could care less what your needs were and more interested in what his, or her needs were met. The more a salesperson knows about what your needs are the more you become likely to conduct business with them. Each time a question directed to what your needs are asked the more our level of trust is developed, ask how their family is and before you know it a new level of trust is established.

Jim has an amazing understanding of how trust is established but the key to making a deal which benefits both parties involved. This is not about what’s in it for me but how to understand what is motivating your prospect to purchase your product or service. Today many people fall short of the finish line before the first shot is fired. If you and I are going to be successful in business, life or in relationships we must understand the key to any deal is to listen to what your prospects needs are and develop a plan of action to understand and serve.

Never loose sight of growing and serving.

You can be sure you’ll be successful

Don’t wait begin today

~Stay Strong~