If a potential partner pressures you to hurry up and decide, don’t.

Dear Norm,

I’m being pressured to make a quick decision about selling the rights to a pain-relief lotion I’ve developed. Unfortunately, I have no idea what I should be asking for. The lotion has been effective in treating myself and some of my patients. With the thought of selling it commercially, I contacted an entrepreneur profiled in Inc. who had done something similar. He introduced me to another person he felt could help me. I sent this second person a sample of my product, and he became quite excited about it. Three weeks later, he sent me an e-mail offering to buy half the business. He wants an answer right away. How should I proceed? And how do I value a business built around a product that is less than two years old and has sales under $5,000? [read]

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About joetheflow

I'm a multimedia designer, video editor, photographer and musician who likes just about everything so here's a place to share. I'm left-right brained which is both a blessing and a curse but never boring. Check out: 3 Penguins Design - http://www.3PenguinsDesign.com ::: 3 Penguins Photography - http://www.3PenguinsPhotography.com :::

One response »

  1. I definitely agree–for important decisions, you should never let anyone rush you. Usually if you are being rushed to make a decision unreasonably fast, someone is trying to get you to make the decision for the wrong reason.

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