I have done many types of deals over the years. I have sold services, created venture opportunities for myself and clients, partnered, started businesses, launched new products and have helped people along the way who needed a little more vision or strategy. I can see deals that others can’t see and can see the myriad of steps and obstacles along the way to make the deal happen. It’s been fun, and I look at the world as a giant playground of opportunities.
It does take great intentionality and vision to make deals happen. Putting deals together is unnatural. Human nature enjoys the status quo too much and rarely chooses to rise above the noise to create more for themselves. Why change anything, even if it is better, when what you are accustomed to has an illusion of safety from its perceived comfort and familiarity? Everything in life and reality is working against you.
That’s why deal making has to center around the ideas first. Focusing on the possibilities and opportunities. Help someone to see what you see. Do they align? Do they trust you and your conviction?
The details are second. Yes, there’s likely a ton of work, cost and failure once you get a deal done. And it’s good to sketch out some of those back-of-napkin style to enhance the communication and experience around the deal. But obsessing about details that may or may not happen can kill a deal. Quickly. To a lesser degree, bringing in the details can overwhelm customers or partners. You are setting up the other party to extend the buying cycle or to simply say no.
I like to focus on the deal first. The ideas, upside opportunity, and possibilities are what catalyze deals. It’s why I insist on “Deals first, then details.” Otherwise, you end up killing deals that don’t get to see the light of day.
Much of this is because the ramp up and overhead are so low today to be able to test an idea. You don’t often have to go and buy brick and mortar real estate or hire a bunch of people first. You can see if your idea has viability with experimentation. You can test the demand or even the business relationship to see if it will even work. That’s the creative part of deal making. Take out the risk and find the essence of whether the idea has legs by prototyping.
Most people are sitting around waiting for something to happen. A few people are out there making things happen. Focus on deal making. Details come second.