When under LOI, everyone needs a devil’s advocate 😈
It’s easy to lose objectivity when you’re pitching your deal as the best thing since sliced bread (with peanut butter).
So ask a capable friend to dedicate 1-2 hours per week on your deal - their sole job is to tell you why you should NOT do the deal.
(1) This ensures objectivity from an unbiased perspective who can stress test your assumptions.
(2) It will surface any yellow flags before investors point them out, and solidify your communication and mitigation plans.
(3) Peace of mind that you’re not overlooking anything.
A devil’s advocate won’t kill your deal, but strengthen it.
