Saturday, April 29, 2017

Are Deals Made on the Fairway?

You wouldn't think sports would have much to do with business but in the game of high end stakes a few strokes can make a big difference. Golf can foster big deals more than any other game. A good swing can lead to a hole-in-one for your business and for your game.

You read about it all the time. Conferences at golf resorts, business deals being made on the fairway, and people socializing at the club house. It is a person-to-person game where one can spend a significant amount of time with their potential business partner to hash out the details of a deal.

Here is how it works. You need to know who you are doing business with. You don't want to stare at each other for hours until you come to a deal. It would take too much effort and lead to high stress negotiations.

However, if you had a game of distraction people can talk about business, then distract themselves for a few moments to make a swing and then get back to negotiating. Because it is a slow game you have plenty of time to think about business without pressure or stress.

You also have the ability to learn about your business partner and how they think and talk while your walking or driving down the range. Thus, golf is an excellent opportunity to get to know each other as well as talk about business in a relaxed and fun environment. By the end of the game you either "connected" or didn't "connect" and you know whether or not you have a deal.

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