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Thank you, gtvwill, looking at competitors is a good idea. Perhaps I can capitalize on the benefit we could have for their reputation as leaders in this space.

Thank you, gtvwill, looking at competitors is a good idea. Perhaps I can capitalize on the benefit we could have for their reputation as leaders in this space. Any suggestions on how I find this type of negotiator? I am confident in solving technical problems, semi confident in writing code, and I have generated about $3m in sales over the past 2 years in this space, but now that I have the product dialed enough it is laterally scaleableI really don't want to mess up something that could set the standard for the next 5 years or more. Thank you again for the thoughts. I appreciate it.

gtvwill 5y ago
As one commenter mentioned above, make sure you enter all these communication processes with correct NDA's and Legal prevention to stop them just making your product. Go find yourself a small company decent legal team, they will be integral in setting terms of contracts anyways so might as well start the relationship early. TBH you don't actually need a negotiator. You need a legal team to define your terms of business your willing to operate/sell under (multi year contract, fixed or variable price and so on). How do you want your business to work? do you want long haul big contracts to a singular or few clients? or do you want short term in bulk to many? (these are the polar ends maybe you want in the middle?). Do you want to be repeating this process soon or not for a few years? You also would do well to hire an analyst to value your business/services product to the market your selling to. AKA get someone to data crunch what your price ranges are for sale and how well it allows for growth and all that. Basically an accountant. Then you take the numbers from that. Slap 10-20% on it and thats what you take to your market as offer. If they dont just pay it and want to haggle, you got 10-20% to play with. Thats when you negotiate. But not by much and mostly via your legal team. What are they compensating you with for the reduction in your price? Why do they deserve it? Will their competitor kick up the same fuss? If you make bank you can buy a pc off me someday I turnover like 30k a year atm as a one man band MSP. Maybe I should switch to consulting?
- spatialdata 5y ago
  deal. All great points too, and a very good strategy. Thank you, gtvwill. Congrats on your side gig success. Thats the hustle! I am new to HN, how do I get in touch? Cheers.
  - gtvwill 5y ago
    lol my 30k a yr isn't my side gig, its my only gig just in its 2nd year :) Its the side effect of being a one man band IT company in a town of only like 5000 people, income is low af. Hit me up gtvwill(at)gmail.com and I'll get in touch via official comms :)
    - spatialdata 5y ago
      +1

gtvwill 5y ago

As one commenter mentioned above, make sure you enter all these communication processes with correct NDA's and Legal prevention to stop them just making your product. Go find yourself a small company decent legal team, they will be integral in setting terms of contracts anyways so might as well start the relationship early. TBH you don't actually need a negotiator. You need a legal team to define your terms of business your willing to operate/sell under (multi year contract, fixed or variable price and so on). How do you want your business to work? do you want long haul big contracts to a singular or few clients? or do you want short term in bulk to many? (these are the polar ends maybe you want in the middle?). Do you want to be repeating this process soon or not for a few years? You also would do well to hire an analyst to value your business/services product to the market your selling to. AKA get someone to data crunch what your price ranges are for sale and how well it allows for growth and all that. Basically an accountant. Then you take the numbers from that. Slap 10-20% on it and thats what you take to your market as offer. If they dont just pay it and want to haggle, you got 10-20% to play with. Thats when you negotiate. But not by much and mostly via your legal team. What are they compensating you with for the reduction in your price? Why do they deserve it? Will their competitor kick up the same fuss? If you make bank you can buy a pc off me someday I turnover like 30k a year atm as a one man band MSP. Maybe I should switch to consulting?

spatialdata 5y ago
deal. All great points too, and a very good strategy. Thank you, gtvwill. Congrats on your side gig success. Thats the hustle! I am new to HN, how do I get in touch? Cheers.
- gtvwill 5y ago
  lol my 30k a yr isn't my side gig, its my only gig just in its 2nd year :) Its the side effect of being a one man band IT company in a town of only like 5000 people, income is low af. Hit me up gtvwill(at)gmail.com and I'll get in touch via official comms :)
  - spatialdata 5y ago
    +1