When you decide to partner with a potential investor,
you have to agree on every detail. Of course, you have to convince the
potential partner to invest in you. However, even if you seem to be a perfect
match, there could be disagreements along the way that will stop you from
pursuing your partnership. If you decide to walk away from the deal, these are
the things you need to do.
Be sure about your decision
Before you decide to walk away, you need to be certain
of your decision. You don’t want to regret it later because you decided at the
peak of your emotions. Weigh the pros and cons before you decide that you have
to leave the deal.
Be polite and diplomatic
Investors and business owners run in circles. If you
didn’t end up pursuing a partnership for now, doesn’t mean that you can’t have
anything in the future. Therefore, you should end in good terms. Make sure that
you remain respectful and polite even if you already declined the partnership.
Besides, these investors also have connections in the industry. You don’t want
to lose other potential partners because you didn’t end well with one.
Provide your reasons
It’s not enough to simply walk away from the
deal. If possible, try to provide your reasons. In crafting a response, try
to be diplomatic. Avoid saying that you wanted to walk away because you don’t
like the person you’re talking to. It should stay as a business deal, and have
nothing to do with personal differences.
Open doors for future collaborations
You can end the conversation by saying that even if
you didn’t pursue
the partnership for now, you are still open for collaboration in the
future. Again, you don’t know what will happen next. Also don’t know if there
are other aspects that you can agree on in the future.
Never pose any threat
Just because you didn’t have a wonderful partnership
now doesn’t mean that you will be at odds with each other forever. Try not to
pose a threat. You don’t hold all the cards. Learn to be humble. It doesn’t
matter if you feel extremely confident with the direction of your business.
You’re looking for an investor, and you need to be humble enough to acknowledge
that you need someone to fund you.
Not all potential
partnerships and well. There are times when you have to walk away from the
deal, and it’s natural to do it. You need to decide what’s in the best interest
of your business. You can pursue a partnership with someone whom you don’t
think is the perfect fit for you. The good thing is that there are other
potential investors out there. You need to keep searching until you find
someone whom you can work with.
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