All too often, entrepreneurs focus on how to make a deal successful but they also need to focus on how deals fail. Failure can be a great learning lesson.
But it's a lesson better experienced by somebody else.
If you are bringing in partners to do a deal with you, make sure everybody is contributing cash. I've seen far too often where one partner is contributing cash and the other partner promises to contribute their time and expertise. My experience is that type of deal structure rarely works. The partner that contributes cash won't be happy with the amount of work contributed by the other partner. [ 114 more words ]
dontshakeonit.wordpress.com If you are bringing in partners to do a deal with you, make sure everybody is contributing cash. I’ve seen far too often where one partner is contributing cash and the other partner promises…
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dontshakeonit.wordpress.com I had the opportunity to sell a bankrupt strip club in Washington, DC. When speaking with the former owner, he told me about how he got involved in dating one of the strippers. I’d guess t…
dontshakeonit.wordpress.com We all check the box. Yes, I accept the terms and conditions. But do you really accept the terms and conditions? When you make a purchase, and then you don’t like what you bought and try t…
It’s true. Every deal can fail. We all know that. But many deals don’t fail. If they all failed, then business would die, and that’s simply not going to happen. However, deals can and will fail for one simple reason – people. Every deal is a transaction between two or more people. Whether it’s a real estate purchase, a business start up or even a marriage, every deal, every contract, every promise is bound to fall apart if you aren’t paying attention.
For the past quarter century, I’ve been selling real estate, businesses and assets for bankruptcy trustees, banks, receivers and investors. Along the way, I’ve heard the stories from hundreds of people about “what happened”. I hope to share with you what I’ve learned so you can avoid the mistakes others have made.
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