Entrepreneurs often find themselves in high-stakes negotiations with big, savvy players, with significant negotiating power (referred to herein as "Big Boys") — whether it be a venture capital firm in connection with a financing or a private equity firm in connection with the sales of the entrepreneur's business; the problem can indeed be daunting. Listed here are ten techniques for entrepreneurs to help these groups through this process.
1. Retain a Good Team. In deal making as in business, you are just as good as your team. Accordingly, the first step for the businessman is to retain a strong transaction team — and the quarterback of the team should be an experienced corporate legal professional. Indeed, an experienced company legal professional will not only add value to the transaction, but may also help the entrepreneur build-out they and tailor it to the particular deal (e. g., in an obtain, a strong tax legal professional is imperative to help framework the deal or in a licensing transaction, a strong IP legal professional is often necessary, etc. ). The Big Boys are generally represented by large, hostile lawyers, and the businessman must be sure that his/her team is about the job. For more help visit https://angel.co/paulbola.
2. Do Your Homework. Due diligence is often a critical component to any deal. One form of diligence that is often overlooked, nevertheless, is an investigation of the people on the other area of the table.