Patience & Drive: The Deal Makers Tightrope

Negotiating leases often takes significantly more time than one might expect. No surprise that the longer it takes, the less patience we all have to see it come to fruition. As the old adage is true: "Time Kills Deals" it is also true that we deal makers walk the tightrope. We need drive to keep pushing forward to the other side, but without patience, a single misstep could send the deal plummeting back ground zero. Not every deal is this delicate, but some are, and recently with a greater disconnect between buyers and sellers, the question of how to balance drive with patience has been at the forefront of my mind.

The Power of Drive

Drive is the fire in your belly, the relentless pursuit of your vision, the thirst that only be quenched by getting the agreement made. Drive pushes you to follow up on progress, to hold people to account on executing tasks, and to strengthen the relationship so that friction points may unlock. Without drive your business as a deal-maker will stagnate, and your ideas will echo a soft thud as they plummet from deal fatigue.

The Virtue of Patience

But drive without patience can be equally disastrous. Patience is the cool head that analyzes the market, refines the strategies, and asks others to take a deep breath when there are setbacks. On that metaphorical tightrope patience is the safety net. Patience fosters long-term thinking, ensuring your deal is built to last, and your reputation as a good-faith problem solver can remain in tact.

Discernment: The Balancing Act

The key lies in discernment. Knowing when to push forward with relentless drive and when to step back, analyze, and refine comes after failure. At least that has been true for me. Truth be told, multiple failures are sometimes necessary because every deal has different variables at work. So here's a few ways to cultivate discernment:

• Data-driven decisions: Don't let gut instinct be your only guide. Even worse, your ego. Gather data, analyze trends, and use it to inform your client's next move. It's not about us.
• Seek diverse perspectives: Talk to mentors, advisors, and even potential customers. A fresh set of eyes can expose blind spots and suggest better approaches.
• Embrace calculated risks: Don't be afraid to share your opinion, if asked, but understand the potential consequences. Recently a Landlord asked a GC for an opinion about how many amps were needed in a space, and the GC suggested to the Landlord they believed the deal wasn't worth pursuing. This GC lack of discernment failed to answer the underlying question and seemed to push for a decision when one was not ready to be made. A much better display of patience would have been saying something like "I don't know, let's look at all the options, and then you can decide."

Patience and drive are not enemies; they're teammates. By mastering both and wielding them with discernment, we will be well on our way to crossing that deal maker's canyon with more confidence and success. If your deal falls thru, be patient. Hang on to that rope and live to negotiate another day.