Feel free to email me - elad_s at eladgil dot com.
I am happy to provide some direct advice or put you in touch with someone who helps with these sorts of things for a living.
Untitled topic
131–137 of 137 posts
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#132Earlier quoted context omitted.
> Sure. By "reject the offer" I mean to reject that offer, not that the offer couldn't be revised to become acceptable. Ok, in that case I would word it as 'we're taking it under consideration' to buy some time to regroup. And then respond after thinking things over with a counter-offer, not with a rejection. > As a general rule I don't think it's good to make deals with people you don't trust. As a general rule, I'd…
Well the reason we got this far is because we spent the last decade of our lives working extremely hard to make products that people in our industry want. That is all we did. No networking, no events, etc. If we needed money we either figured out a way to make do or we took pay cuts. An exit never occurred to us because we were too busy doing what we do. We're definitely green as far as this stuff goes but that's bec…
Hey founder001,
I was in a very similar situation to you recently. Is there any way we can have a chat ?
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#133Earlier quoted context omitted.
Well the reason we got this far is because we spent the last decade of our lives working extremely hard to make products that people in our industry want. That is all we did. No networking, no events, etc. If we needed money we either figured out a way to make do or we took pay cuts. An exit never occurred to us because we were too busy doing what we do. We're definitely green as far as this stuff goes but that's bec…
Hey founder001, I was in a very similar situation to you recently. Is there any way we can have a chat ?
thefounder001@gmail.com
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#134You're absolutely doing the right thing trying to figure exactly what's true and what's not. I've been through this multiple times myself and with several others. If you don't do it right, you could literally leave millions on the table.
I've written up advice to sellers in a couple of places: http://www.askshane.org/daily-tips/how-to-sell-a-website.php http://www.askshane.org/features/lessons-from-an-acquisition...
I'd be happy to talk to you more about this; feel free to contact me if you want to jump on the phone. There's a link at the top of both of those articles.
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#135Earlier quoted context omitted.
That's fine. This offer is still crap. Throw it in the garbage.
The offer is crap but the process may not be and some elements of the offer indicate the other party is serious, welcome to hardball. Throwing the offer 'in the garbage' will end the negotiations, the trick is to gain control of the dialogue and to push back as hard as you can without breaking off the deal to see what room there is.
While you're very likely right, if the most important thing out of this entire discussion that the OP needs to get is you cannot accept the offer as is. They seem to actually believe the offerer that they aren't going to make another. Well then, at this point then, they just really need to go 'well that's crap' and toss it in if they're unwilling to counter.
They have to get to the point of accepting that accepting it is the absolutely worse thing they could do. Ending negotiations is far far far superior to actually accepting that offer.
Once they accept that, then they can counter, confident they're not losing anything. Even if this truly is the last offer, that's a better result than acceptance.
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#136IANAL, and you should get one (see #1) ASAP. But a few observations: 1. Get a startup attorney (you probably already have one, who incorporated you, if you don't - use one of the bigger names (wilson sonsoni, gunderson, cooley)) 2. Figure out what your perfect offer would be, and counter 3. Rule #1 of any negotiation is to be willing to walk the fuck away if you're not happy. As soon as you become a little desperate,…
re point 2 - don't make a counter offer, get an offer from another bidder. That is the only way to push your price to the actual market value rather than just find the lowest offer you will accept.
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#137Earlier quoted context omitted.
If by modern financial and legal infra-structure you mean things like stocks, futures, and derivatives, then I don't think I agree. The modern infrastructure insulates two parties in any transaction with brokers and exchanges. For example, if the "losing" party on an options trade can't pay up, the exchange pays for them. The exchanges and brokers set margin requirements to reduce the risk of non-payers.
Funny, I read that as 'banks, lawyers, contracts, standardized protection clauses, best practices'.
Yes, that's what I mean.