Morning Fuel Episode 3
5 Tips from the Negotiation Table (25:00)
with special guest:
Tommy Miller, Senior Counsel, Nixon Law Group
Sometimes it happens in an instant.
You “click” right away with a person when you meet for the first time.
I recently connected with Tommy Miller, Senior Counsel and Life Sciences Lead from Nixon Law Group in Richmond, VA.
His firm specializes in working with startup and established innovators in complex verticals such as Healthcare, Biotech, and Life Sciences.
We got to talking and realized we both see a lot of the same gaps in new and maturing companies.
I talk a lot here on Mission Log (and with prospects and clients) about basic questions that often go unanswered.
And in “Episode 2 Igniting Great Questions,” I covered a full session on getting to “strategic truth” in order to uncover the reasons behind why a company exists in the first place.
I see it from the perspective of business strategist and marketer.
Tommy sees it from the perspective of providing impactful compliance guidance as companies are seeking funding or planning for exit.
In prepping for our session Tommy said, “I tend to work with a lot of inventors – really smart people with the ability to create new technologies and products. Many need help understanding how to turn that idea into a business and what the key factors are in turning that business into a profitable stream of revenue. That’s not a problem really, its an opportunity to help them find the right competency circle – their trusted advisors – that will set them on the right track to accomplish their goals.”
With “Episode 3: 5 Tips from the Negotiation Table,” Tommy and I will dive into the following topics that should be relevant for every investor, founder, and CEO:
Have a solid but flexible strategy/commercialization plan
Know and understand your competitive landscape, and how you will fit into/disrupt it.
Begin your company with the end in mind – preparing for exit
Be well-prepared in highly regulated industries (regulatory paths, documentation, marketing, information systems)
What are your use cases and who is paying?