4 ms·
"Not everyone has Sam's deal-making ability. I myself don't. But if you don't, you can let the numbers speak for you." PG you have hundreds of people applying
by abiek 18y ago
"Not everyone has Sam's deal-making ability. I myself don't. But if you don't, you can let the numbers speak for you."
PG you have hundreds of people applying to make a deal with you (through YC) and once you agree to make a deal--a decision that takes you 20 minutes--you are rarely rejected. Plus, when you are rejected the people who reject you usually fail. I appreciate the modesty but by no means do you seem like a poor deal maker.
I feel that no matter one's starting point they should work on there deal making ability so they can have more then just the numbers. You need the steak and the sizzle.
Just as startup founders in order to make a good product need to be persistent, intelligent and understand the technology; in order to make good deals the founders still need to be persistent and intelligent but also need to understand the components of what it takes to find and close deals.
So how can startup founders learn to be good deal makers?
- pg 18y agoI meant ability to convince people to do what one wants.
- netcan 18y agoI appreciate the distinction (& the modesty) but I think that YC is exceptionally sold. It seems to be a pretty good machine for getting people to do what you want them too. Does YC convince people to start companies? ..move cities? ..change game plan in a way that is as significant or more significant (to them) then signing a deal is to a VC? But I get what you mean. That knack for projecting momentum is rare.
- skmurphy 18y agoPicking who to give money to is not "deal making," or at least bears little resemblance to the deal making that founders need to become proficient at to gain customers and partners. In particular the exploding offer structure ("make your decision before you leave the room") is only possible when one side in the negotiation is in a highly advantaged position. "So how can startup founders learn to be good deal makers." Practice, negotiation training, cultivating a creative frame of mind, preparation, spending two-thirds of your preparation trying to look at the situation from the other party's perspective.