Building the Business

Wheelin’ and Dealin’

By December 1, 2016 No Comments

Entrepreneurs are the most optimistic people on the planet.  If you look at the odds of succeeding in business, it makes sense that anyone who wants to start a business is naively optimistic.  As empowering as this optimism may be, it can also set a growing business up for failure.  Longshot deals that have a 1% chance of going through are “Done!” in most entrepreneurs’ minds.  If a startup gets a tiny nibble from a Fortune 500 company, for example, the founders might decide to redirect all of their resources to focus on closing that deal.  But if they don’t have a backup plan when the deal inevitably falls through, they’re up the creek without a paddle.

Everyone from investors, to strategic partners, to potential customers will play footsie with you, only to leave you stranded in the eleventh hour.  Be skeptical and expect the worst – 99% of potential deals will fall through.  And the bigger the deal, the more skeptical you should be.  Stay focused on the fundamentals and keep executing.  Then, if a deal actually closes, you can think of it as a bonus!

Matt Sand

Author Matt Sand

Passionate about making a difference through innovation and entrepreneurship.

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