Just as things look as if the deal is done …. terms change … what do you do?
When you are in a transaction that’s been negotiated – you have an ”exclusive” for due diligence to finalise the deal ……
And terms are changing
You’ve done everything you can …. your ducks are in a row – you have a buyer – they have an exclusive – and everything seems to be falling apart – they are changing the terms of the deal at the last minute!
Emotions are charged!!!!
There is massive tension, things are charged – and you are annoyed and afraid
Has this happened to you?
Dr Jeff Spencer shares 4 strategies when a deal is about to conclude and the terms change!
- Work out how you feel – what’s relationship to the transaction – what do you think of the deal – take the charge out – prevent yourself from being blindsided
- Identify the other parties issues issues – compartmentalise them and see how you can resolve them . Make sure that your team have been heard before solutions are made, vs having the solution nailed – and then hearing their issues.
- Investigate the other buyers that were turned away – choice is good – something to anchor to – when there are problems .
- 24 hour rule – don’t make any decision until feathers settle – don’t have judgement clouded – creates composed state of mind
Do what champions do – just keep on showing up!
Here’s Jeff’s podcast