Put you on tour, put your record on wax (“Trust me!”)
Sign your life on the X
You eXit, X-off, but what you really get:
A box of Newports, and Puma sweats (“Damn!”)
3rd Bass♦ The Gas Face
Do you need a translation? Whether it is a deal memo or a definitive agreement you need to be cautious. Is the drafter of the contract trying to lure you into a deal with an inordinate amount of fine print that you will only discover long after the fact? The sales pitch sounds great. The proponent weaved a great story about what they can do for you and how this deal will change your circumstances for the better. The black & white deal bears no similarity to the pitch. Is it bait and switch? Yes, we suppose, but it is always slightly more subtle. The deal memo leaves out the key items you need. The spirit conveyed over the meeting that “locked” the deal up is not captured in the first draft.
BPM is not a fan of putting extra money in the hands of attorneys, but you need to get your attorney to review the earliest possible articulation of the deal in writing. It’s hard to renegotiate a deal, even it is only written on the back of a cocktail napkin. You don’t want to go into the deal with an Armani suit and walk out with nothing but a jockstrap.
GET THE DETAILS IN WRITING
READ THE FINE PRINT
Extra Note:Attention to detail matters not just for defense, but for building an effective brand,seeDetails at the Mouse
Takeaway 149: Discipline on margins is critical. And inventory management is essential. Also, nice bundling of complementary products may differentiate you from the other commodity business competitors.