Feb 14th, 2016

Closing The Deal

Warren Buffett once said:

“Writing a check separates a commitment from a conversation.”

The truth of this simple sentence can not be overstated.

Every so often I run into an entrepreneur who, despite having many engaging conversations with funders, just can’t seem to close the deal (and get that check). I believe this often to be a problem of confidence in making the final ask. It might feel uncomfortable. It might be the fear of rejection. It might be that the timing doesn’t feel right.

Whatever it is — get over it!

Ultimately you enter into a business relationship with anyone who wants to give you money. You have something to sell, which will make the other party rich(er). Of course there is risk involved — and everybody knows that (and make no mistake: that risk is always priced into the deal).

You will very most likely hear “no” significantly more often than “yes”. That is okay — as it is the name of the game.

Be clear, concise, rest assured that what you’re selling is good — and ask for that check. As only a check is a commitment.

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