Category Archives: Management

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.

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.