Most people may have never heard of Chris Brown, the former mayor of Hawthorne, California, but this gentleman is one of the guiding forces in that state’s politics, working behind the scenes with local governments and private business to craft effective legislation.
Mr Brown is a dealmaker – one of those individuals bringing two or more parties together, in order to identify common interests and execute beneficial strategies for both sides. His experience as a business owner and politician gives him the unique perspective necessary to successfully close deals in this space.
Becoming a consistently successful dealmaker is not a matter of luck. Brokering deals requires knowledge, patience, objectivity, and prescience. Here are a few characteristics that foster proven outcomes for dealmakers like Mr Brown:
— Dealmakers cultivate broad and action-oriented networks.
— Dealmakers study their subject matter, while seeking access to superior #information, and they are able to identify #trends likely to shape their environment. They understand that knowledge is power, and that is often their greatest advantage.
— When necessary, well-connected #dealmakers are able to bring disparate parties together. For example, they activate their channels to potential buyers or sellers of goods, or they identify sources of #capital for the financing of ventures.
— Dealmakers understand that disparate parties have their own motivations, and that they must communicate effectively, relying on facts, objectivity, and #diplomacy, in order to bridge those parties. What’s more, dealmakers never lose sight of their own interests in a deal. (Triangulation is key.)
— Dealmakers must have the proper infrastructure for facilitating a deal. For example, in order to execute a transfer of goods, the dealmaker may be responsible for arranging shipping, or in order to execute a buyout of assets, the dealmaker may be responsible for conducting a third-party valuation.
— Dealmakers must have access to the resources (i.e., capital, talent, etc.) necessary to complete intermediary responsibilities in a deal. It does a dealmaker no good to negotiate terms on which he cannot follow through.
— Dealmakers must be comfortable with their unsung-hero status. Because structuring and negotiating #deals can be a messy and long process, many dealmakers prefer to do this intricate work behind the scenes and away from public scrutiny. Indeed, for some of the best dealmakers, #anonymity is a virtue.
(c) 2017, All rights reserved. Axiom Strategy Advisors, LLC.