Even the most successful and influential business people have had the crushing experience of setting up a highly lucrative and painstakingly negotiated deal go up in flames right before closing. While these rejections may seem inexplicable, there actually a number of different factors that can kill even the most precisely crafted deal. This recent Harvard Business Review article that examines why good deals go bad offers some insight into this frustrating phenomenon. First off, a perfectly good eminently reasonable deal might be rejected because you failed to justify it.
To you, a deal might seem so enticing that you feel no need to explain why a potential buyer should jump on it immediately. It’s a mistake to assume that a potential buyer will be convinced to enter into a deal because its appeal is self-evident. You also need to provide the buyer with a justification that will allow them to quell their internal doubts about making a large expenditure, no matter how good of value they stand to receive. The article also mentions how important it is to provide the potential buyer with a narrative they can present to their supervisors and coworkers when they come to them with your offer. The better the secondhand narrative, the better your chances are for closing the deal.
Read the full article here: https://hbr.org/2016/04/5-reasons-good-deals-get-rejected
