Learning to do the right deal

Posted on 06. Dec, 2009 by Craig Killick in Business, Personal Development

While running a business, there will always be an aspect that is new to you, leaving you in a situation whereby you have no frame of reference.  For me, and the challenges I am taking on in 2010, I am hitting a few in one go.

In the past week I have been involved in lease negotiations (not new to me, but something I don’t like having to get involved in) and raising finance (completely new to me).

My point… The only way to learn, is by experience, or working closely with someone who has it… And both, when I come to think of it.

That said, one thing I have found whenever doing a deal of any kind is that there will always be someone who will tell you how they would have done it, or, what you did wrong in their opinion.

Some deals will be better than others and for me personally, I always look for balance. I absolutely hate the “I must win” attitude when it comes to doing a deal because it usually means someone “lost”.

Hindsight is great, but impossible. Experience comes with time. So, every deal you ever do is a learning experience for the next one (as long as it’s not catastrophic of course).

Surrounding yourself with people who have experience and are willing to share is essential to your own growth, strength and understanding. Not just business, in any activity – sports, being a parent… the list is endless. Find people who are good at what they do and learn, learn, learn.