Closing Defined

“Closing” Defined

Time out for half a second to clarify our terms here: The closing of a negotiation is simply the point when you’re looking at the very last one or two major issues preventing you from agreeing. In contract situations, the word closing can mean something different.

If you’ve ever bought a house, you know that the closing is that airless moment when you’ve run out of checks in your checkbook and know you’ll have to run to the bank in the morning with your credit cards to cover the overdrafts. In a sales deal, the word closing sometimes refers to the handshake at the end, when you get the client to sign on the dotted line. As a negotiator, however, I look at the closing as clearing that last hurdle. As my foot clears that hurdle, I stick out my hand and say, “Great, we’ve got a deal.” I see that end result as part of the process, and that’s how I’m dealing with it here.