Things To Do Before Getting Into Deal-Making

Early Ambition

He remembers making his first deal at age eight by selling free shells from Sanibel Island to his elementary school friends. He’d add googly eyes and sell them at lunch to his elementary school friends. He had an early understanding of a good profit margin.

What Is Wellness To A Deal-Maker

Then he stumbled upon the origin of wellness and something clicked in him. The origin of wellness comes from Halbert L. Dunn, M.D. He was the leading figure in establishing a national vital statistics system in the United States and is known as the “father of the wellness movement”.

For Pete, the idea of just being “okay” or “not sick” isn’t enough. He wants everyone to strive to feel amazing. In the wellness industry, he found that same drive. When your values align it’s easier to find and create deals with others who share and understand your values.

Getting All The Answers

Many entrepreneurs get caught up in the returns and scale of a deal, ignoring the preparations one needs to get out of the way before meeting a buyer. Those wrapped up in “the unit economics” and may need to be reminded of the nuances of the deal. Unit economics, in simple words, are the direct costs and revenues associated with a business model on a per-unit basis. A unit refers to any quantifiable item that creates value for a business. If we’re talking about a retail store, its unit economics is the amount of revenue it’s able to generate every month from each single customer.

These are all important elements but not everything there is to the deal. To truly prepare, the deal-maker needs their client to answer all the questions a buyer might ask in advance. Collect those answers before meeting and see if the story checks out. This helps with alignment between client and deal-maker.

Preparing For The Deal

Pete and Corey explore all these concepts before diving into the future of deal-making, how to run a business like a pro-sport team, and his latest book. This episode is packed with honest talk from two pro-deal-makers.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Corey Kupfer

Corey Kupfer

37 Followers

Corey Kupfer is an expert strategist, negotiator and dealmaker with 30+ years of experience. He is also the creator and host of the DealQuest Podcast.