Written by: Simon Haigh, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
There is growing discussion about how Generation Y (also known as Millenials) and Generation Z, whom the author collectively describes as “Generation Entrepreni”, is changing the business landscape through their behavioural attributes. Is it also a coincidence that these same attributes happen to be aligned with good deal-making behaviours?
The nature of deal-making has undergone some paradigm shifts in keeping with the emergence of minimal click purchasing, rapid delivery, real-time order status updates and online feedbacks and reviews are becoming the new modern norms. How many people nowadays book restaurants and accommodation online without first checking prior online reviews?
Good deal-making requires flexible and adaptable deal strategies
Generation Entrepreni has a pre-disposition to being flexible and nimble, driven largely by the instant social media world and constant technology changes. Possibly because it has grown up in the more transient, higher turnover “gig economy”, Generation Entrepreni is also open to taking chances, is adaptable and not afraid of failing in the process.
Good deal-making requires good negotiating skills
Not least given the way that it is educated to challenge ideas, Generation Entrepreni tends not to be lacking in self-confidence, with a “can do” approach to doing things. With these skills, Generation Entrepreni should be generally well armed for negotiation.
Deal Priorities and Values
Given that Generation Entrepreni has, through its endless access to online information sources, had ample opportunity to watch, monitor, discuss and learn from the failings of prior generations would suggest that it is well placed to take an informed and measured view in deal-making circumstances.
Generation Entrepreni is motivated by a sense of purpose, which often transcends traditional, more Baby-boomer/Gen X concepts of winning at all costs. A higher meaning than pure monetary reward, work-life balance and quality of life, is often a motivator for Generation Entrepreni. As such, the goal of creating a good deal for both parties through mutual value satisfaction is not only possible, but also the only really sustainable way to do business and one, which Generation Entrepreni should be well suited to achieve.
It is important to ask the right questions to get the right answers
Generation Entrepreni likes to learn and is not afraid of asking questions and seeking opportunity through interaction, so is arguably well placed to ask the right questions to get the right answers.
Information and knowledge enhance deal-making power
Generation Entrepreni, and particularly Generation Z, appears to be particularly adept expert at managing perception, and even influencing others through self-brand projection on social media platforms in particular suggests that it is as well placed as any generation, and probably more so, in the perception power stakes.
Good communication is critical for effective deal-making
The fact that Generation Entrepreni appears to be more culturally, sexually and racially tolerant than its predecessors in its attitudes, preferences and communication manners certainly appears to auger well for a “culturally competent”, collaborative and innovative deal-making communication mindset.
Good deal-makers see the bigger picture
Given that Generation Entrepreni has grown up in a fast-moving, ever-changing world, it is perhaps well oriented to being comfortable with a “No”, approach to business.
Conclusion
Generation Entrepreni appears to possess many of the attributes required for good deal-making. Generation Entrepreni has a pre-disposition for being nimble, adaptable to change, flexible, with a self-reliant, self-confident “can do, give it a go” attitude. It is not afraid of taking chances and perhaps failing in the process. Its sense of purpose, collaborative spirit, increased tolerance and accommodation for-freer flowing information share are all positive factors in Generation Entrepreni’s deal-making capabilities.
Simon Haigh, Executive Contributor Brainz Magazine
Simon Haigh, known as The Growth Strategist, helps organizations and leaders unlock, build and sustain business, leadership, brand, and mindset growth through his coaching, consulting, training, publications, speaking, and e-learning programs. Simon’s clients include high-performing leaders, companies, business schools, professional organizations & Government bodies globally. His work is endorsed by world no. 1 leadership thinker Marshall Goldsmith. He is nominated by PeopleHum Top 200 Influential Thought Leaders 2021, Thinkers 360 4 Sales, 9 Entrepreneurship, 10 Legal & IP, 13 Health & Wellness, 33 Mental Health, 37 Management & 47 Emerging Tech, and featured in the PeopleHum Top 100 Thought Leader series for Mindful Negotiation. He has also been featured on numerous global TV and radio outlets, and two of his three Amazon 5 Star books – How to be a Better Dealcloser and Dealmaking for Corporate Growth, are endorsed by Marshall Goldsmith, and he is an associate member of the Marshall Goldsmith Stakeholder Centered Coaching Organisation. Simon is also an acclaimed Keynote Speaker.
