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What is deal management and how to deal with it

Any deal would have failed without proper deal management. But what exactly does this phrase mean? Deal management is a tool that helps sales representatives create and organize workflows and deals. An effective deal management platform and the right strategy are very important for successful sales, regardless of the size of the company or the number of customers.

Main tips for effective deal management

To make successful trades, you need to know how to use the deal management tool correctly. There are a few tips that will make it possible to improve sales in your organization and learn how to conclude deals quickly and easily.

  1. Data collection

Data collection is one of the main components in deal management. It will help to find out the main goals of the client, his pain points, thereby helping you to provide better service for customers. 

Proper collection of all the necessary data will open up enormous possibilities for your organization. This way you can not only see the opportunity to implement a new process or perspective but also become a strategist for creating new, successful deals.

  1. Multithreaded communication

It’s not enough to communicate with one person to make a successful deal. Therefore, the next step of the deal management is to establish a trustful relationship with several representatives of the company.

Such a connection with management will help shorten the lifecycle of the deal and ensure confidence that its conclusion will not depend on the personal relationship between two people.

  1. Setting the start date and schedule

When all the data is collected and trust is established, it is necessary to set the start date of work with a client. It will help to further reduce the lifecycle of the deal.

The start date of sales and the installation of the work schedule will confirm the success of previous stages of the deal management. This will guarantee that the contract will be signed.

  1. Pricing process management

Even if the previous stages have been successful, the deal may still not take place if you don`t own the pricing and procurement process. After providing price information to a potential customer, you need to give them time to think and give an answer.

You don’t have to rush and make hasty decisions, like offering a discount to close the deal sooner. You need to be able to withstand pauses because this will lead to more success.

Main advantages of the deal management

The main advantage of deal management is the ability to improve team efficiency and increase the number of successful deals. But there are a few more additional advantages.

  • Sequence of acting

Thanks to deal management, you will be able to avoid problems as much as possible. A clear, well-coordinated process will enable all team members to act according to certain standards. It will improve the quality of customer service.

  • Quick deal cycle

Deal management will speed up the sales process while good relations with the client. The amount of time spent on sales will decrease, and the time to make new deals will increase.

Types of File Sharing Ports

File sharing programs often use special ports to route traffic. This article will tell you what a file sharing port is, what a firewall is, and how you can bypass blocking some networks.

Port and firewall description

Firewalls are programs that check any incoming traffic using pre-installed filters, thereby protecting your computer from unverified sources and virus attacks. Port is a traffic entry point to a computer. It is the place where information is exchanged, and it is the place where firewalls protect the traffic.

To make it easier to explain the work of the firewall, you can imagine ports in the form of rooms in the house. The firewall filters who can enter the house at all and which rooms in the house can be visited. The owner can visit any room (any port), and the visitors can only enter certain rooms (certain ports).

Why ports can be dangerous

There are several ports that are most often blocked by the firewall. These ports can be very dangerous for your computer and personal information.

  • Port 139

This port is usually used to access files. But it turns out that using this port makes the user’s hard drive vulnerable to hackers. Once an attacker detects this port, it receives information about the computer, IP-address, operating system, and operating applications.

  • Port 445

Port 445   just as port 139 can be dangerous for computer data. Hackers can remotely access the contents of your hard drive. They can also automatically download and run malware. Often computer owners don’t even know about it.

  • Port 135

A port that remote services, such as DHCP, DNS, and WINS, used. It’s not as vulnerable as the previous to ports, but it can also be dangerous for your computer.

Different firewalls

Depending on the type of firewall, the degree of protection and traffic transfer change. There three main types of firewalls.

  1. Controlled switches. They work at the channel level and share traffic only within the local network. They can’t be used to process traffic from external networks. For example, from the Internet.
  2. Packet-filtering firewall. One of the first and most common firewall type. Controls traffic based on established protocol headers.
  3. Session-level firewalls. Exclude direct interaction of external hosts with a node located on the local network.

How to protect your network

With help of modern technology, attackers have learned to hack even the most reliable protection. Therefore, to protect your network, it is better to use several different levels of protection. The more additional firewalls, the harder it is for hackers to crack your data.

You can install one firewall for an entire network, and separate firewalls for each program or network source. These settings will depend on the network’s capabilities and available management resources.

The importance of Online Data Rooms

Online or virtual data room is the place where the most important company documents are stored. They are often created and used to facilitate the legal audit process that buyers usually do.

In this article, you will learn tips that will be useful when preparing an online data room, problems that you can face, and realize the importance of such rooms in the modern world.

Advantages and importance of online data rooms

Virtual data rooms have a lot of advantages. First of all, it is an opportunity to provide customers or partners with valuable information, being able to control this process and maintain confidentiality. You no longer need a special place to store documents, all of them will always be available online. It will also help to speed up the process of cooperation with people and making deals.

You will be able to give access to all or only to certain documents. Also, virtual data rooms provide an opportunity to see who visits them and how often. Such rooms allow you to access the necessary documents at any time, have a convenient function of searching and adding new files. And the main advantage is the protection and confidentiality of your data.

More reasons to create an online data room

If you’re still not sure to the end about the importance of online data rooms, here are a few more reasons to create them.

  1. Preservation of documents. Paper documents tend to spoil, tear, and even get lost. Documents in virtual data rooms will never be lost at the most critical moment. They will be available until you decide to delete them yourself.
  2. Organization. The fact that all documents are stored in one place indicates the coherence and organization of the company, which is sure to inspire confidence among investors and potential partners.
  3. Remote access. Virtual data rooms will provide access to the necessary from anywhere. You no longer need to come to the office to clarify the details.
  4. More information for investors. Most investors plan deals only through online rooms. That’s how they get better information before they make a decision.

Problems that you can face and tips to avoid them

During the inspection, customers may detect problems that may occur during the preparation of the virtual data room.

  • Unsigned contracts
  • Corrected contracts without signing the terms of amendments
  • Absence of share purchase and sale contracts
  • Incomplete or unsigned employee documents
  • Incomplete tables

These problems can have a negative impact on further cooperation with the company. In order to avoid them, there are some tips for preparing an online data room.

Remember that preparing a room takes a lot of time and effort. Instruct the most responsible employees to collect all the company’s documents. It’s likely to take a long time, but with all full confidence that all the documents are in place, you can make a lot of deals very quickly.

Company Management – Relationship Building

For the company to prosper, it is necessary to be able to build the right relationship with colleagues and partners. In this article, you will learn the main principles of relationship building and understand the importance of this process in doing business.

The importance of establishing a good relationship

Modern man is in constant contact with other people. And since we spend most of our time at work, building a healthy relationship with colleagues is just a necessity.

Good relations with co-workers make the work easier and more enjoyable in the first place. Employees feel more confident, not afraid to express their opinion and implement new ideas.

It’s equally important to build good relations between boss and subordinates. On the one hand, it is important for the superiors – working in a team that respects you, not hates you, is much easier and calmer.  On the other hand, when employees are confident in the good attitude of their superiors, the work becomes productive and brings tremendous results.

Ways to build a good relationship

Building a good relationship in a company isn’t really difficult. There are a few tips to help you make contact with people and communicate with them further.

  • Be sincere

In order for people to treat you well, you don’t have to try to be someone you`re not. Fake personalities are easily revealed, and trust in such people is completely lost. Stay yourself and accept other people for who they are, and then the atmosphere in your team will always be friendly.

  • Learn to respect

It takes time to get to know a person. And it also takes time to develop mutual respect in the team. It doesn’t matter what position an employee holds at all, anyone should be treated with respect.

  • Show your vulnerability

You don’t have to seem perfect all the time. Every person tends to be wrong, everyone has their weaknesses and pain points, and don’t hide them from people around you. By supporting other people in their difficulties and sharing yours, you will definitely gain mutual respect and trust.

  • Brainstorming

Brainstorming is a great opportunity to establish a good relationship with co-workers. Have a brainstorming session, listen attentively to your colleagues, and achieve joint goals. This simple activity will help your business to rise and your relations with co-workers to remain warm and trusting.

Proper customer relations

Don`t forget that for a successful business, you need to build relationships not only with colleagues but also with potential customers and partners. There are some tips that will help you do it right.

  • Don’t forget about meaningful contacts.

Identify your best customers, partners, and suppliers and try to keep in touch with them. Relationships will always be better if you communicate with people not only when you need something from them.

  • Trust feedback

Always be attentive to the feedback from your customers and partners. This will not only improve the relationship but will also help correct possible mistakes.

  • Answer calls

This simple rule is very significant in building relationships. People who ignore phone calls often lose the trust of their customers or partners.

Key documents in a private equity transaction

A private equity transaction it’s an investment made by a private capital fund, its sponsor, or other institutional investors in non-public securities of a private or public company. These transactions are quite difficult, and their successful completion requires knowledge of the jurisdiction, taxes, and current state of the private equity market. Private equity transactions are concluded in special transaction rooms and remain closed to the public.

In this article, you will find information about the structure of transactions, key documents, and tips for the successful completion of transactions.

Structure of the private equity transaction

There are some of the most important components of the private equity transaction structure.

  1. Source search.

The private equity transaction starts with a so-called source search. Such sources include research, internal analysis, networking, business meetings, conferences, etc. It helps to detect and assess investment opportunities.

  • Deal description.

The financial representative sends a small statement about the company put up for sale or the possibility of investing in private capital. It doesn’t specify the name of the seller, only a brief description of the business and services, and also the main financial indicators.

  • Privacy Agreement.

If the investor is interested in the company’s prospects, a Non-Disclosure Agreement is signed. In this way, the company’s management provides the investor with confidential business information. At this stage, the company receives enough information to make an investment decision.

  • Investment memorandum.

A document that describes opportunities for an investment committee. It consists of a company review, an activity market review, a financial review, and a risk review.

  • Final audit and approval by the investment committee.

After approval of the previous documents, the team devotes all attention to the final inspection. At this stage, requests are sent to resolve all outstanding issues.

After that, the company submits the final memorandum. If it’s approved, the company sends investors a final offer. It specifies the final purchase prices and presents the financial documents of banks.

  • Signing a deal.

After the successful completion of all previous stages, the deal comes to its logical conclusion.

Key documents and helpful tips

In order for the deal to be as comfortable and successful as possible, the company needs to collect all the necessary documents. Most often, this list includes:

  • Stock Purchase Agreement
  • Investment Agreement
  • Regulations
  • Service contracts
  • Debt documents
  • Insurance policies

The availability of all the necessary documents does not guarantee the 100% success of the transaction. There are many other components, that will help you get closer to a successful private equity transaction. Here are several tips.

  • Good preparation. You should be well aware of the seller, business plan, and forecasts.
  • Understanding the risks. Before completing a deal, you need to find out possible potential problems and ways to solve them.
  • The right business plan will help to earn the trust of investors and convince them of the right choice.
  • A common goal. If both sides – the company and investors – have a common goal, the deal will definitely take place.