Why Price Isn’t the Biggest Factor on Big Deals | Inc. |


Inc.com - The Daily Resource for Entrepreneurs

Most deals aren’t won on price alone. Align your value proposition with your buyer’s strategic needs and the deal will get bigger and possibly better.This is an excerpt from Tom Searcy’s latest book, “How to Close a Deal Like Warren Buffett—Lessons from the World’s Greatest Dealmaker” written with Henry DeVries and published by McGraw-Hill, available now.

When Walmart sold Warren Buffett their McLane Company Division, which was valued at $22 billion in 2003 at the time of the sale, they made a choice they never made before—to sell a part of the company.  Was it the money? A fair question, but Walmart has plenty of money—and although the $1.45 billion cash acquisition price was a nice chunk of change—the real reason was strategic benefit.

McLane was well run, profitable and successful, but it was still the ugly stepsister of the family. It had razor-thin margins and it’s ability to grow was limited because competitors to Walmart were wary about contributing in any way to the success of their biggest rival. McLane was the weakest link in the chain for Walmart. Buffett’s transaction was quick and easy and it brought an independence that would allow investments and revenues for McLane to grow without negatively impacting Walmart’s balance sheet. This was addition by subtraction.

An outright auction may have been more financially beneficial in the short run, but Walmart wanted to keep the capability of McLane as a part of its supply and distribution.

What do you bring to a customer’s strategy? Leer más “Why Price Isn’t the Biggest Factor on Big Deals | Inc. |”

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6 Ways to Get Customers to YES! | Inc. |


 

Inc.com - The Daily Resource for Entrepreneurs

Influence your customers to buy from you using these six easy methods.I’ve got some good news, some bad news, and then some even better news.

The good news is that most customers truly want to say yes! The bad news is that, although people love to buy, they hate being sold to.

Finally, here’s the even better news: There are six ways to influence a customer to buy without explicitly selling to them, according to Dr. Robert B. Cialdini, author of the bestseller Influence: The Psychology of Persuasion: Leer más “6 Ways to Get Customers to YES! | Inc. |”

A Great Leader’s Year-end Checklist | Inc. |


Inc.com - The Daily Resource for Entrepreneurs

The year is almost over. Great leaders know how to tie up loose ends and make sure their employees are happy and ready to move forward.Salespeople live and die by the annual review. Auditors have built an entire industry around it. For the next month, print and television media will pour out gallons of coverage of the past year in review.

And yet, as leaders, we often move from one year to the next with little or no time spent reviewing the year just past from a purely leadership perspective. To help counter that, here’s my five-point year-end leadership checklist: Leer más “A Great Leader’s Year-end Checklist | Inc. |”