Thursday, October 8, 2009
Insights and Opinions: Five Basic Mistakes Entrepreneurs Make In Dealmaking
We're featuring advice, opinions, and other useful information from our community of readers on our Insights and Opinions section. For today's Insights and Opinions piece, Scott Edward Walker, a corporate attorney, gives his opinion on the five basic mistakes he sees entrepreneurs making:
I've been doing deals as a corporate attorney for over 15 years, including nearly eight years in the trenches at two major law firms in New York City; and during that period, I have seen certain mistakes made by entrepreneurs (and inexperienced deal guys) over and over again. The five basic mistakes made by entrepreneurs in connection with corporate deals: (1) the failure to diligence the guys on the other side of the table; (2) the failure to build a strong transaction team; (3) the failure to run the negotiations through the lawyers; (4) the failure to check their emotions and to remain disciplined; and (5) blinking first.
You can read Scott's full article here.