Deal Breakers in Doing Business

Filed in archive business tips on November 19, 2006

Many businesspeople believe in making use of charisma and all kinds of negotiation mojo just to make sure that the business keeps on running and grow steadily. However, there are pitfalls to avoid in trying to make things work.

Here are some major dealbreakers that one serious businessperson should know in order to avoid resenting his or her own decisions in the long run:

Too High Fees
When you think of closing a deal with suppliers, clients or professionals who are supposed to let you improve your business, it's easy to justify high fees with biz philosophies like "you get what you pay for". But one should not forget that business-related expenses can also balloon up into unmanageable sizes. And if you are not sure if a professional's effort or a supplier's goods, or a client's business is actually worth the risk, and you simply just can't afford consulting biz experts, it's ok to dump the deal for now.

Villain of an employee
There are workers that can be easily spotted as black sheep. If you find one with good skills but with a bad attitude, don't think of him as a "diamond in the rough". He could be actually a "rough in the rough."

Trust your guts
Intuition is a woman's best weapon. But men can enhance their skills in trusting their guts, too if they try. If you are feeling like you are about to close a deal made in hell, walk away. Save your money. Save your business. Save your sanity.