Searching for opportunities that intersect with my passions is a part of my daily life. I wake up asking questions of myself and those close to me to see where we can leave a mark worth looking back on as we seek to unlock value for both ourselves and other stakeholders. As a result we set up Accelor, an Investment vehicle established to seek out investments in technology with the aim of adopting and improving processes that ultimately better the lives of everyday Nigerians.
FAST FORWARD to Q4′ 12…….. we were engaging in discussions with an established entrepreneur in the U.K. whose venture into the African emerging markets coincided with ours.. Apparently, we had both been exploring the possibility of establishing a modern Data center which led to our faithful introduction from a mutual party.
Negotiations have been going on for over 3 months now and I must say it has been a crash course in deal making for me. Debating terms, structuring the financing and dealing with all the various issues that come with a startup have been very challenging but as of today I’m grateful to say that we still sit at the table. Some of the lessons I have picked up on the road are :-
1. It’s just business, its never personal – everyone has an opinion of what they think is fair and will fight for that irrespective of what you think. On the positive side, a compromise is usually reached and that means the other side of the deal most likely gave up on something.
2. Make sure you understand your value proposition before you attempt to take a seat at the table (otherwise you might get embarrassed).
3. You probably have more value and resources in your network than you initially thought. Keep searching.