Deal Profiling continues to champion progress in most successful ventures and engagements in all sectors of society. The reality however is business and politics have both taken stewardship of ‘deal profiling ‘ to their benefit in negotiations and fostering progress. The Business Development team is part of the organization tasked with leading the research and acquisition of products/services, processes, and procedures that profile and package deals based on the mutual benefit of two or more parties in any single transaction. The success of deals depends on the value created in addressing the clients job at hand, achieving a sustainable relationship.
Profiling a deal starts by unpacking what the qualified client would need to address. A leadership engagement is needed in acquiring insights on how best to address business shortfalls. This is a conversation that explores what the solution should be as opposed to what your product or service can do. This is a frequent mistake made by business developers who start responding like salesmen.
The Business Development team’s responsibility is then to package the solution to the clients’ job at hand, enabling the multiplication of talents and resources (internally and externally). This is the foundation of deal profiling. A deal profile will structure a solution and outline an agreement to be entered into by two or more parties for their mutual benefit and progress.
The following deal profile outcomes must be taken into consideration :
- The client’s (leadership level) primary job at hand.
- The scale of success required.
- The appropriate resources and parties are needed to achieve success.
- Strategic fit.
- Organizational fit.
- Cultural fit.
- Quality of the plan.
- Execution of the plan.
- The swiftness of integration.
- Communication during the implementation.
- Calculation and realization of synergies.
The overall review of the above outcomes is key to deciding which qualified opportunities to pursue and strategies to employ in developing new business opportunities. A good strategy well implemented, can drive high levels of growth and profitability.
Deal Profiling + Good Execution = Sustainable business.