Episode 154: Why You Should Not Be a Deal-Maker with Corey Kupfer
The podcast episode aims to help people understand what they are getting into with deal brokering.
Several aspects of closing deals may not fit your personality and standards, for example:
The nature of the deal
Deal-making is sometimes exhausting - especially if you’re working on multiple deals simultaneously. They could take a lot of time, effort and focus. Sometimes, emotional attachments are formed too.
I’ve counseled against emotional attachment in the past. But this is real life; emotional attachments are inevitable when you’re not trained to deal with them. Sometimes, it is a new company, an acquisition, or a key distribution of licensing deal - they are all the same in deal-making.
I’m not trying to scare you or something, but deal-making is no joke. It requires commitment, and you might experience constant fatigue. I know people who have committed serious blunders on deals and gotten physically and mentally ill.
No matter how good you are at doing deals, there is a little tiny thing you should always look out for; deals blow up.
If you are not a risk-taker, you’ll find deal-making almost impossible. Like everything that has upsides, there are risks in doing deals.
Most deal-making experts are entrepreneurs or high-level executives and are used to taking risks as part of their jobs. This bit is quite interesting because most entrepreneurs find it difficult to take risks - not that I’m judging.
Listen to the first solocast of 2022 to learn more about:
- Things to consider before deciding to be a deal-maker
- What it takes to be a deal-maker
- Why you should continue to do what you are doing
- And more!
Listen to the DealQuest podcast today!
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