Always Finish The Deal
I have been reminded lately of the importance of finishing the deal. Any deal. In the eloquent words of Yogi Berra, “It isn’t over until it’s over”. Or put another way, the deals not done until it’s done.
Too often people get a deal agreed to without having it formalized and then proceed as if the deal exists. Make no mistake; until you have the deal defined and agreed to in writing it can, and will, change.
Time has a way of effecting people’s perspective. Views on what is fair, what is enough, who should pay for what, what should be interest bearing, who should have control, all change regularly. They are based on perspective. It isn’t that anyone is trying to cheat anyone or trying to squeeze out more money. Although these things do happen, it is usually just that at least one persons perspective has changed.
When two parties are focused on getting a deal done, their focus is different than it may be in conducting day-to-day business. There is an energy that contributes goes in to working a deal that is gone once the dance is over. Just this week I have seen three examples of people struggling with what feel like changes to a deal that was supposedly agreed to some time ago. The challenge in each case is that the deals were never actually formalized.
My point in all this is that whoever is driving the deal needs to keep their foot on the gas until all the paperwork is in place. The best time to get agreement on paper is while everyone involved is still in their “let’s make a deal” mind set.