The Tribune

By Simon Cooper

Res Socius

When I last Googled “closing deals” I got 130 million results. I should think there are a few more by now (and a good deal of repetition, too). Some I glanced at were downright crazy, like threatening negative consequences and repeating yourself three times. The following are the ones I felt the most affinity for.

Allow Extra Time – I hate being squeezed myself. I also know that a pressurised sale is an open invitation for an imploding deal. That’s why I prefer to give my clients time to think things through, and to reach the decision that’s in their best interest.

Magic Threes – When I was a young graduate trying to change the world, a mentor said to me: “Always come out the victor in a battle with a spare bullet in the breech”. I’ve closed many a deal eventually with a set of three “moreovers”. Like trees, they just seem to work better in a clump.

Affordability Rules – One of my favorite moreovers for my Xero Accounting Service is that it is such a great deal, especially when compared to what the competition charges. I’ve made a regular practice of checking budgets first and never over-selling in terms of cost. I guess that’s why my deals almost always stick.

Match the Need – We’ve all got different world views and buttons. Some of us are big picture thinkers, while others are attracted to detail. A chef contemplating buying a restaurant will be initially attracted by the ambience. An accountant will brush everything aside and go straight to the books.

Think Forward – I’ve never found studying easy, because there is a measure of instant gratification in my personality. That same mentor taught me to think forward to my graduation day when times were hard. Sometimes, speaking as if the client has already reached their decision seems to make the difference.

Something for Nothing – Tough times have made us a generation of bargain hunters. In my case, my discriminator is affordable commission on a business for sale, and my support during the handover period. What’s yours, whether you’re an employee or a business owner? Competition’s tough. You need to come out tops.

Law of Logic – I tend to run a mile when somebody tries to force a deal down my throat that I’m unsure about. Over the years I’ve learned to coach my clients through the decision-making process. This includes listing the pros and cons of every deal. It is not only good honest business - it also helps close successful deals that stick.

When all is said and done, I personally believe that one ought not to overtly manipulate people into buying things. By the same token, helping them make up their minds is the essence of doing business. I’ll leave it to you to check out the other 130,000,993 tips for closing deals. Feel free to contact me with your own ideas.

NB: Simon Cooper is a founding partner of Res Socius, a firm authorised by the Bahamas Investment Authority to facilitate the sale and purchase of businesses ,and provide management consultancy services. Contact 376-1256 or visit www.ressocius.com.