How to unwind a dead deal:
• Maintain a good relationship with the seller (unless they screwed you). They might come back in the future (make sure to keep in touch) and they might be a good reference. A seller who bailed on me in the 11th hour 4 years ago later became the biggest investor in Minds Capital.
• Communicate with LPs. (Many sponsors go AWOL) Share the post-morten analysis and your planned next steps (this is also important to share with your junior team members). Thank them for their engagement (and commitment, where applicable). Say you would love to work with them on the next opportunity and will keep in touch.
• Pay your vendors.
• Take a vacation.
• Onto the next one.
