Archive for the 'Deal Making' Category
Keep Your Napkin In Your Lap
May 1st, 2008 categories: Deal Making
If I had a sliver of ever deal that ended up in the toilet as a result of partner infighting, I’d own Berkshire. If napkins were intended to be legal instruments, people wouldn’t use them to wipe their chins, blow their nose in, or clean up spills. Napkins are fine for sketching ideas at the coffee shop, but you’d better memorialize your shared inspirations with a definitive agreement, if you want to avoid future headaches. Good faith, goodwill, and good intentions are mere spittle, irresponsibly mouthed from the lips of naive deal-makers, giving little consideration to what matters most – implementation. This “googley talk” always precedes the perfunctory palm pressings that underscore every narrowly defined deal.
For all the use of the word “good” in the early stage deal-making, there’s still one missing… good luck - because if you intend to make a deal with that napkin in your lap, you’re going to need it.
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