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My Turn

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Improve your business game

Playing golf and making deals on the course have a lot in common when you dig below the surface and follow the proper game plan.

BY ANDRE PESCHONGPublished: January, 2009

I see parallels between the market and the deal-making environment that often accompanies golf. Is it any wonder that so many business deals get done during a round?

Golf is a game of confidence and concentration. There’s good concentration, such as setting up to a shot, and bad concentration, such as wondering when the beverage cart will pass by.

The same principles factor into deal-making. If you’re concentrating on the wrong aspect of the deal or thinking too many steps ahead, you’ll lose the here and now, which is critical.

Here are more parallels between golf and business:

The setup. Many thoughts likely go through your head before swinging the club. The same is true in a business scenario, where early decisions often affect the rest of the deal.

The mulligan. Getting a do-over on the course often depends on your group, but there rarely are second chances in the world of deal-making. Take your best shot within the rules and your conscience should be clear.

Approaching the ball or approaching the deal. Walking up to your ball requires assessing the lie, yardage to the green and weather conditions, among other things. A “foot wedge” shouldn’t be part of the equation. The same is true in business. You must evaluate the deal on the merits of value, the investors, market conditions and peer group analysis, among other things. If things are feasible, do what needs to be done to bring it to a successful conclusion.

External influences. Unless it’s pouring rain, the game proceeds regardless of issues affecting you that day. Deals are similar because there are external pressures that can’t be anticipated or controlled. Approach the deal like you would a challenging course by managing things you can control.

Have a routine. Have you ever shot an 80 one day and a 94 the next? The course is the same, but each shot and round had a different set of circumstances. Hurdles also need to be evaluated before closing a deal. In each case, a routine or game plan will minimize possible problems.

Sometimes, when you’re most relaxed and as far from a deal or transaction as possible, the best ideas seem to float to the surface. If we could all relax enough to have that Zen moment on the golf course, life would be complete.

Andre Peschong is an investment banking professional. For more information, visit dealflowdiaries.com.

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