photo credit: Aidan Jones
Now that you have taken all of the necessary steps in achieving your ultimate goal in business and you’re ready to sign off on that big deal you’ve been going after, there are a few last minute things you should think about and remember before signing the final paperwork.
Remember a long time ago when you sat down and thought up your mission statement for your company? Well, now is the time to remember that mission statement and ask yourself if this new deal you’re going after fits into what your mission statement is all about or if the deal change it.
Are you ready to share or even lose control of most of your business? Making that deal with someone else means you will be at least sharing control if not giving up complete control over your business. Can you handle that decision? Stated recently on Open Forum:
With any partnership, there must be trust on both sides. All of the interactions you have in advance give you insight into what the relationship will be like once you’re formally aligned. Make sure you’re comfortable with the idea of working with the people you’re making a deal with — once there’s a legally binding agreement, the issues that come up get a lot more complicated.
In the end of all this your gut instinct is really what you should listen to. Most often your gut knows deep down what you should do, so if it’s pointing you towards making the deal then make the deal, but if you have more of a sick unknown feeling in your gut about the whole thing then maybe making that deal isn’t what you should be doing.