The_Essential_Manager_s_Handbook

CLOSING THE DEAL / 425

Reaching agreement

A written agreement usually marks the

closure of a negotiation. The agreement,

which includes solutions for both parties,

may be summarized and you may ask the

other party to sign this document. This is

the most simple and natural way to

conclude a negotiation. Changes should

be allowed after the agreement has been

signed. In other words, if circumstances

change, both parties should feel quite

comfortable contacting the other party to

discuss these changes. Upon mutual

agreement, such necessary changes can

be incorporated into the new agreement.

Make sure you include this last point in

the agreement, as a deal is not done until

it is done—it is better to allow for some

flexibility than to force the other party to

overthrow the entire deal, should the

circumstances change.

CHECKLIST...

Closing a deal YES NO

1 Have you considered all possible stakeholders? ...........................

2 Have you clarified the purpose of the deal? ...................................

3 Have you made sure that both parties understand

what it takes to implement the agreement? ...................................

4 Have you built a relationship with the other party,

to pave the way for future collaboration? ......................................

5 Have you made enough arrangements for another team to

implement the agreement, if another team is taking over? ...........

Include all stakeholders in

the implementation process.

Share any concerns you have

as the process progresses.

Continue to work with

the other party until

implementation is completed.

US_424-425_Closing_the_deal.indd 425 30/05/16 3:07 pm