Deal Cartographer

It's sad but true -- deal world is full of ambiguity. We have tools at our fingertips that we can use to navigate this unknown terrain, however.

When making a deal in a landscape of ambiguity, it's imperative to use at least two tools (deal map and compass) and one strategy (relationship building). Today we'll discuss the first tool:

The Deal Map: Be sure that you can visualize your deal. One way to create a deal map is to draw a picture of your desired destination, then fill the map in backwards as you go through negotiations. The visual landscape of your desire mixed with what is actually happening will form the landscape. When you take a look at it, you'll recognize bridges, barriers and gaps to your desired destination. With each deal you'll get better, and more effective strategies and tactics will come to mind. Eventually, you'll become a deal cartographer. If you can draw your deal, you'll fully understand it.

With a Deal Map you can navigate your way through all obstacles by turning them into opportunities, and you'll therefore find yourself where you want to be. If you don't like where you're headed, reroute. Here's an example of a simple Deal Map we created at WieseLaw.

Next week we'll discuss the second essential tool for a successful negotiation, The Compass. Stay tuned! Meantime, make sure you strategize your next deal by creating a Deal Map of your own.

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Filter Your Opportunities

Those of us who are lucky enough to have jobs are typically time-starved. When this occurs we aren’t reflecting on what we’re doing, and reflection is invaluable because from that comes excellence, creativity and innovation.

We believe doing less, better is the wise approach. Our ability to say “no,” has increased the quality of what we’ve said “yes” to. We need to have discipline over our time, and one good way to battle our time poverty is through creating an opportunity filter. Look at each of your opportunities carefully and make sure what you’re doing is your best option.

Here’s the opportunity filter we use at WieseLaw. Before you jump on another opportunity, be sure to adopt a filter of your own.

What are the elements of your filter?

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