Strategies in the sunshine

Yesterday's Constructive Negotiation Workshop at Wyvols Court in Swallowfield gloried in some fantastic sunshine. The breakout sessions, where the teams of delegates prepared for their role play exercises, took place on picnic tables scattered around the beautiful grounds - making it tougher than usual to get the teams back in to their negotiations!

One thing that I love about negotiation training is the way that people can surprise you. I was delighted to see how the quiet and softly spoken Heidi proved herself to be an ace negotiator, swiftly helping her adversaries to set themselves up for her perfect deal.

If you have a hot deal lined up, make sure you do your homework before you start negotiating - you never know when there might be a Heidi on the other side of the table!

To License, or to go it alone?

This morning I was delighted to share a stage with Ashok Vaidya, an expert in technology development and commercialization, for the Surrey Enterprise Hub's Licensing and Negotiation Workshop. The audience comprised entrepreneurial businesses who are looking for the best way to grow their businesses, and generate profit from their innovations.

Ashok explained how licensing technology to a partner with the capacity to manufacture and sell your product can accelerate the speed of market penetration and result in rapid growth. The downside, as he pointed out, was that sharing the risk of manufacture and marketing also means sharing the rewards! Loss of control was identified as another key concern among the delegates, along with the tricky question of setting royalty levels.

We discussed a number of mechanisms for increasing our negotiating power before getting to grips with a potential licensing partner - essential if you're a small company negotiating with a larger manufacturing business! Over the last four years this has become one of our key challenges at Devant, and I guess we've become a bit fanatical about the benefits of working with smaller companies.

If you have some great technology and are looking for ways to commercialize it without giving away stacks of equity to venture capitalists, licensing could be the way forward. As always, give us a call (0118 988 9670) or drop us an email (info@devant.co.uk) if you'd like to talk through the pros and cons.

Who'd be a Bridesmaid?!!

Regular readers will know that we at Devant are big fans of getting agreements set out clearly in writing to prevent misunderstandings. But even we were stunned by this contract prepared by a US bride for her bridesmaids! It rather makes the fun of dressing up pale into insignificance, doesn't it?!

*Bridesmaid’s Contract*

Hello my beautiful bridesmaids! Let me just say again how happy I am that you are going to be a part of my special day! Below are just a few guidelines for the wedding that I’d like you to review, please initial by each point, sign at the end and send back to me. Just want to make sure they’re aren’t any surprises! The planning bride is a happy bride!

Thanks a bunch! Love ya!

_____ My hair will remain at the length it is now or longer.

_____ I will not change my hair color without first consulting Katie and providing a sample photo or hair swatch for consideration.

_____ I will use Sally Hansen’s “Maximum Growth-Daily Nail Growth program” every day for the 4 months before the wedding day.

_____ I will not gain more than 4lbs from the weight I was when I was asked to be a bridesmaid.

_____ I swear to attend all showers, (lingerie, bridal & bachelorette) to arrive in a timely manner and do everything in my power to support and “be there” for the bride.

_____ I will purchase the David’s Bridal style # 81123 dress below in Latte/Champagne within 3 weeks of today.

______ I will NOT knowingly get pregnant without notifying the bride at least 4 months prior to the wedding so a suitable alternative can be found. I will also give my purchased bridesmaid dress to said alternative.

I do hereby swear that I will adhere to all of the above & other understood bridesmaid duties for the wedding on September 21, 2007
X_________________________
(sign, print and date)

A New Hub is Born!

Yesterday it was my great pleasure to be invited as the inaugural speaker for the new programme of events run by the Thames Valley Enterprise Hub. The Thames Valley Enterprise Hub is funded by SEEDA, the South East England Development Agency, and exists to support growing businesses in the region. Yesterday's event was the first of those to combine the Hubs of Bracknell, Reading and Newbury, and an impressive number of Hub companies braved the M4 and the early start.

The subject of yesterday's seminar was 'the danger of assumptions', and this certainly seemed to resonate with the audience. It never ceases to amaze me how we can experience mis-understandings regularly with those we know very well (spouses for example!), and yet somehow still expect relative strangers to understand us completely, when we discuss structuring a new business deal.

There was an excellent level of interaction from the delegates, reflecting the highly innovative and entrepreneurial businesses that the Enterprise Hubs attract. My thanks to the Hub team (Susan Elliott, Tracey Sanderson and Ed Cooper) plus Stephen Dowling, who was instrumental in setting up the whole event, for giving me the opportunity to present to such an inspiring group.

The delegates at yesterday's event participated in a survey to identify the top five commercial contract issues for entrepreneurial businesses. We shall publish the results in due course - if you would like to participate in the survey,
contact us for details.