Are You A Deal Maker? The Ten Characteristics of A Successful Deal Maker

  

Are You A Deal Maker? The Ten Characteristics of A Successful Deal Maker

I have always considered myself a deal maker. Modeling myself after some of the deal makers that I know in  the real estate investment and business world. After careful studies and my own experiences as a business owner, real estate investor and entrepreneur here are the ten traits that I have been able to identify.

1. Passion - Deal makers bring a passion and a commitment to a deal - It is very important that you love what you do and I will carry you through all the difficult times. For example, Sir Richard Branson of the Virgin Group: I have observed that although a very busy executive, he has a passion for what he does and always carves out time to write a blog, tweet and interact with his followers.

2.Integrity - Allows people to do business with you because you are a man of your word

3. Know The Rules of The Game - Whether you are in the stock market, real estate investment, or the commodities market you have to know the rules of the game. The rules make a difference on how you structure - is it a cash out deal or cash flow deal?

4. Return On Investment - Important to know the return on your investment to measure the effectiveness of the capital you are deploying.

5. Learn To Use Leverage - Deal makers employ leverage" Leverage of time, Leverage of People and Leverage of Money. The ability to leverage your resources would expand your assets exponentially.

6. Investment Is Not Emotions, Just Numbers - The numbers tell a story in a deal. If the numbers are right and you have conducted your due diligence, just go ahead and make a deal!!

7. Ride The Winners And Cut The Losers - If a piece of investment is not doing right make an effort to sell it and cut your losers. This would happen in your deal making process and you just have to get use to it because you are not going to win all the time. There are times when you are going to make some mistakes and I don't care how seasoned an investor you are!!

8. Know Your Niche - Somebody said "There are riches in niches" Defining your niches means that you have specific properties or businesses that you are buying and selling. You know the characteristics and profile of your buyers. There is a target market you are aiming.

9. Know The Timing - In investment timing is everything. You have to know when to buy and when to sell. When the opportunity presents itself you have to act quickly. Do not fall prey to a syndrome call "analysis paralysis" where you analyze a deal so much that you are unable to act.

10. Take Action - When the time is ripe you have to act quickly.