Here's how you can ensure timely completion of deals in private equity firms.

I would quote here Eisenhower, which goes like this: “In planning for battle, I have always found that plans are useless, but planning is indispensable.” In fact you need to be prepared for contingency and have a robust planning if you want to see the deal to completion. It is also good to start the negotiations at high level , with experienced stakeholders involved.

In our experience of serving over 150 PE clients, conducting a deal faster is everyone's worry. But how do PE professionals squeeze more in available time to make deals faster? We conducted a global survey to find how professionals invest time. A large chunk of their time goes in activities that prep them for deals. Plan ahead is mantra - we have observed that those who obtained support for prep were able to add 30-60% bandwidth that they could focus on making deals and decisions. Professionals who plan what to work on themselves and where to seek our support were better able to utilize their time. We come to know about when they share their experiences.

The team should enjoy flexibility and ideally be taken out of the day-to-day tasks relevant for their functions. Ideally the company would have a separate Transaction Management Department to coordinate the process related to such deals, obviously depending on the size of the company .

Assemble Team: Form a team with diverse expertise in finance, law, and sector-specific knowledge. Clearly define roles and responsibilities, and ensure members can prioritize the deal. Regular check-ins keep everyone aligned and accountable. By fostering collaboration and leveraging strengths, your team can handle complex transactions efficiently.

A entirely internal team is misnomer in current world. Onboarding external members has helped in deal making process. While assembling a team, we should plan and assess what kind of skills can support a deal team. While SMEs are the obvious, there are many other skill sets that can complement a team to bring efficiency and effectiveness of deal teams.

This is especially relevant in the multitime zone context where participants are thousands of miles away. What also counts is a good time management and alignment to fit the locations of all relevant stakeholders. Business trips should not be excluded as even with the most sophisticated technology human touch and getting the feel still counts.

Leverage Tech: Utilize virtual data rooms for secure document sharing, and adopt project management software to track progress and deadlines. Automated workflows reduce manual tasks, freeing up time for critical analysis. Embracing these technologies accelerates due diligence, streamlines communication, and keeps deals on schedule.

'Information is negotiators greatest weapon' - Victor Kiam, an American enterpreneur and TV personality. A successful negotiations hinges on knowing your assets and your partner, and points on subjects around your assets. We have found that more niche a negotiator is with his knowledge hunt, more precise and effective the person becomes on negotiation table. Again, this is from our observations - we have an umbrella bouquet of knowledge services for private markets, but our more focused niche segment services for sector, or region or strategy have created more impact for successful negotiations. Also, despite all prep, one still lack 'all knowledge' - hence a back to call and obtain quick knowledge also helps.

Negotiate Smart: Enter negotiations with clear objectives and constraints. Be prepared to make concessions on non-critical issues to maintain goodwill and progress. Effective communication and a willingness to find common ground can reduce negotiation time. Aim for a mutually beneficial agreement swiftly without compromising key terms.