Megadeals are the holy grail for many organisations. It’s not unusual for 40% of projected revenues to come from just 1% of deals.
Losing one megadeal can mean missing revenue targets. But winning one on the wrong terms can destroy value because of bad pricing or terms and conditions. Writing for McKinsey Quarterly, David Levitch, Aditya Pande and Brian Selby outline seven ways to win the right megadeals:
1) Use deal forensics to stay objective. Clarify the pros and cons of potential megadeals with a scoring system. Choose a few factors you deem essential to winning a good deal – such as client engagement, the strength of the solution and the price. Then gauge the bid against each of these, at every stage of the bid, with a series of questions. These might include: