Sales Intelligence Blog

Dealmaking, at its core, involves negotiating agreements in such a way that all parties feel their interests have been addressed. Over time, certain individuals have excelled in this art, creating value for their companies, countries, or themselves in the process. From Benjamin Franklin and J.P. Morgan to contemporary business magnates like Warren Buffett and Jack Ma, they all hold unique traits that distinguish them as the greatest dealmakers of all time.

Before delving into the secrets of these extraordinary individuals, it's essential to understand the nature of dealmaking itself. Dealmaking is not merely a transactional exchange, but a complex process that involves strategic thinking, effective communication, problem-solving, and negotiation skills.

The Secrets of the Greatest Dealmakers: 

1. Benjamin Franklin: The Diplomat

Benjamin Franklin, one of the Founding Fathers of the United States, was also an adept dealmaker. His negotiation of the Treaty of Paris in 1783, which ended the Revolutionary War and recognized American independence, remains one of the most significant diplomatic achievements in history.

Secret 1: Building Strong Relationships

Franklin recognized the value of building strong relationships and utilized his charismatic personality to his advantage. He understood that people are more likely to make deals with those they like and trust. Today's dealmakers could learn much from Franklin's ability to build relationships, recognizing that business is conducted between people, not faceless entities.

2. J.P. Morgan: The Financier

J.P. Morgan, the American financier, and banker, was known for his ability to negotiate high-stakes deals. He played a crucial role in the creation of U.S. Steel, the world's first billion-dollar corporation.

Secret 2: Bold Decision-Making

Morgan's audacious decision-making is a critical lesson for modern dealmakers. He wasn't afraid to take risks, understanding that high rewards often require high risks.

3. Warren Buffett: The Investor

Warren Buffett, the CEO of Berkshire Hathaway, is arguably one of the greatest investors of our time. His acumen for identifying lucrative deals has consistently yielded returns for his shareholders.

Secret 3: Value-Oriented Investment Approach

Buffett's investment strategy is deeply rooted in value investing. He focuses on long-term gains and the intrinsic value of companies rather than short-term market fluctuations. This approach allows him to identify underpriced companies with potential for growth, leading to lucrative deals.

4. Jack Ma: The Entrepreneur

Jack Ma, the co-founder of Alibaba, the Chinese multinational conglomerate, has been instrumental in the negotiation of high-value deals throughout his career.

Secret 4: Visionary Thinking

Ma's ability to anticipate future trends and align his business strategy accordingly has been key to his success. His vision for the potential of e-commerce in China led to the creation of Alibaba and numerous strategic partnerships, illustrating the importance of visionary thinking in dealmaking.

Translating the Secrets Into Practical Dealmaking Skills

1. Relationship Building: Cultivating genuine relationships, as Franklin did, can lead to increased trust and smoother dealmaking processes. Building rapport, understanding the needs of the other party, and showing genuine interest in their success can create a positive foundation for negotiations.

2. Bold Decision-Making: Dealmakers should not shy away from taking calculated risks, much like J.P. Morgan. Evaluating the potential rewards against the risks and being prepared to make bold decisions can often lead to successful deals.

3. Value-Oriented Investment Approach: Emulating Buffett's approach, dealmakers should consider the intrinsic value of a deal, looking beyond short-term benefits. This requires a deep understanding of the business or asset in question and its potential for long-term growth.

4. Visionary Thinking: Like Jack Ma, being able to anticipate future trends and aligning your strategy accordingly can create opportunities for strategic dealmaking. Staying ahead of the curve, understanding market trends, and envisioning the potential can lead to successful deals.

From historical figures to contemporary business leaders, the greatest dealmakers of all time all possess unique traits that have contributed to their success. While the contexts in which they operated varied significantly, they shared common qualities: building strong relationships, bold decision-making, a value-oriented approach, and visionary thinking.

In the art of dealmaking, there is no one-size-fits-all strategy. However, understanding and applying the lessons from these great dealmakers can provide valuable insights for those looking to excel in their dealmaking endeavors.