Episode 154: Why You Should Not Be a Deal-Maker with Corey Kupfer

Season #1

The podcast episode aims to help people understand what they are getting into with deal brokering. Several aspects of closing deals may not fit your personality and standards, for example:

The Nature of the Deal
Deal-making is sometimes exhausting - especially if you’re working on multiple deals simultaneously. They could take a lot of time, effort and focus. Sometimes, emotional attachments are formed too. I’ve counseled against emotional attachment in the past. But this is real life; emotional attachments are inevitable when you’re not trained to deal with them.

Sometimes, it is a new company, an acquisition, or a key distribution of licensing deal - they are all the same in deal-making. I’m not trying to scare you or something, but deal-making is no joke. It requires commitment, and you might experience constant fatigue. I know people who have committed serious blunders on deals and gotten physically and mentally ill.

Risk Tolerance
No matter how good you are at doing deals, there is a little tiny thing you should always look out for; deals blow up. If you are not a risk-taker, you’ll find deal-making almost impossible. Like everything that has upsides, there are risks in doing deals. Most deal-making experts are entrepreneurs or high-level executives and are used to taking risks as part of their jobs. This bit is quite interesting because most entrepreneurs find it difficult to take risks - not that I’m judging.

Listen to the first solocast of 2022 to learn more about: Things to consider before deciding to be a deal-maker What it takes to be a deal-maker Why you should continue to do what you are doing And more! Listen to the DealQuest podcast today! Website: https://www.coreykupfer.com/ LinkedIn: https://www.linkedin.com/in/coreykupfer/ Facebook: https://www.facebook.com/CoreyKupfer Twitter: https://twitter.com/coreykupfer