Patel: Selling founders should prioritize transaction process efficiency over highest price
Jil Patel · Startup Acquisition Stories With Jeel Patel, Founder of InvoiceOwl · Jun 3, 2024 · at 17:47
Jeel Patel, founder of InvoiceOwl, discusses negotiation philosophy and why deal structure and closing speed matter more than maximizing the highest bid.
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“People usually, when it comes to acquisitions, mergers, anything, they try to focus on substance, which is, like, amount, or, like, dollars, or, like, how, how can I get the highest bid from buyer? But I think, The process is more important. So the author is things like negotiate on the process rather than negotiate on the substance. So which is just like how you can make things smoother, how you can have this documentation, how you can transfer it fastest, how you can speed up the escrow, how there are no delays. I think these are more important parts rather than just like the substance, which is the amount.”
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