For you as a pay per head sportsbook software entrepreneur, it is all about closing deals.
And deals that are not only fair and satisfactory for your sports betting and gaming business, but also for prospective clients and investors.
Doubtlessly, both parties must feel that they’ve obtained something valuable.
Usually, to close a deal involve a series of mutual agreements between both parties until the final deal that seals them all together is finalized in written.
On this article we are going to provide you with information on techniques and skills that can help you close long-lasting deals.
Pay per Head Sportsbook Software: Good / Bad Deals, Win-Win Situations
If you are aware about the fact that you are winning, it will be difficult for you to find a deal in which both you and the other party are satisfied.
A good deal is the last step before an agreement is finalized. It can be defined as one that is fair, and workable for your pay per head sportsbook software company, and for the other person or company involved.
Now, the definition of fairness related to a business deal is quite subjective. Both parties need to decide what is fair based on their own personal criteria, and then, reach a final agreement based on matching standards.
To get both parties agreeing in full to a deal related to your bookmaking and casino operation is paramount.
And one of the main reasons for this is because you don’t want the other party to be harboring resentments over a given aspect of the deal.
So, make sure that consent on all points discussed on the deal is mutual, and that the other party is completely sure that the deal is a good one.
What you want to avoid is to sign a bad deal filled with foreseeable problems.
Pay per Head Sportsbook Software: Assessing the Deal
If you want to know if you are signing a deal that is fully beneficial for your pay per head sportsbook software operation, take a small break just before you sign it, and ask yourself the questions below:
- Do you know the other party well?
- Do you know exactly why the other person or company wants to make this specific deal with your sports betting and gaming operation?
- Based on the data you have collected, it is possible for the other party to fulfill its side of the deal in full, and according to your expectations?
- Is this deal helpful for your long-term goals as a pay per head sportsbook software entrepreneur?
- Does it fit your vision statement?
- Does it fit without a problem within the limits and goals you previously set for this given deal?
- Are both parties compromised, and willing to do whatever is needed to make the negotiation work?
Ideally, the answer for all of the above questions should be YES.
If for some reason, you find that the answer to any of these questions is a maybe, or a no, then take some time to brainstorm why.
Pushing the pause button under these circumstances allows you to review the full situation.
This allows you to assess how the final deal could be changed to reach an agreement where you can actually answers¡ with a resounding YES to the questions above.
Once you have reached this stage of the negotiation, close the deal. And make sure to avoid going through further changes to the agreement. Even if the other party wouldn’t mind doing so.
Justify your Resolution to Yourself
If it’s truly impossible for you to answer yes to all of the questions above, and you still realize that you must close the deal, be very thoughtful before you finalize it.
If you decide to move forward, write down the WHY. This exercise will help you to have a clear conscience if the results don’t work out the way you were expecting. In other words, it will help you to avoid being too tough on yourself.
Get More Info
If there is a reason why you are still unable to answer with a determining YES to any of the questions above, try to get more information from either the other party, or from a different source.
Now, when you check out info about the other party with a third source, do it in a conversational manner, and do it with a single purpose: to extract as many facts as possible out of the exchange.
This is very important, as this can be your last chance to get information that can either lead you to a positive deal, or to avoid a bad one.
It is also good for you to understand that the people you are dealing with are doubtlessly more valuable than the paperwork you are signing for an agreement related to your pay per head sportsbook software operation.
For this reason, you need to make sure that you only close deals with honorable individuals or companies that are going to hold on to their word, long-term.
Sure, if the other party doesn’t fulfill his part of the deal you can use your lawyer to take legal action, but the point is that you want to avoid at all costs having to do such things.
Do you really want to put a given deal in risk by bringing up a new point? The answer is certainly NO.
When you try to add an extra point to a deal that the other party thought was finalized, it can be annoying, even if it’s a small item.
No one wants to close deals with a bookie software and pph poker entrepreneur who is incapable to take unchangeable resolutions.
How to Create Win-Win Agreements
Some deals related to your pay per head sportsbook software operation are very clear. Others are not so much, as motivations are sometimes difficult to spot.
A win-win takes place when the goals and needs of each party involved are fulfilled.
So, before you sign any written agreements for a specific deal that can benefit your sports betting and gaming operation, make sure the other party is satisfied in full.
And you want to do this as you don’t want to play mind reader, and assume that you know what is truly best for the other party involved in the negotiation related to your pay per head sportsbook software operation.