All prompts4Check what came back
Strategy
Decide what you will trade before the call
Prices every open point for both sides, builds the pairs that trade against each other, locates the walk-away and what it is attached to, and sequences the concessions so none of them is a gift.
Your prompt
2
Pressure-test it
3
Go deeper
Before you run it
What to gather first
Watch for
What comes back
See an example of what you’ll get
*(After I answered: the CFO approves the walk-away and has not yet been asked; they need to announce before their fiscal year end; and we have already told them on a call that we can live with 12-month survival.)*
Pricing
| Point | Worth to us | Worth to them (inference) | What would confirm it | Sort |
|---|---|---|---|---|
| Indemnity cap 10% v 5% | High. Uninsured deal, and diligence found the driver-classification exposure | Medium. Founder proceeds, but the delta is $3M against a $60M price | Whether they counter on the escrow instead of the cap | Want |
| Survival 15mo v 9mo | Medium. One audit cycle is what we need | Low. It is a calendar, not cash | They have not raised it unprompted | Want, and we have already conceded to 12 |
| Escrow 7.5% v 3% | High. It is the only part of the cap we can actually reach | High. Founder-owned first sale; escrow is money that does not hit their account at closing | How fast they answer on it | Must have |
| Non-compete scope | Low, and [CONFIRM - governing law] may be lower still if the scope as drafted is unenforceable | High, emotionally. This is the founder's next ten years | Whether the founder joins the call for this point alone | Trade good |
| Earnout metric definition | High. It is the only term that decides real money post-closing | High, same reason | Both sides will fight. Nobody is bluffing here | Must have |
| Officer certificate form | None | None | It is on the list because an associate added it | Noise |
Trade pairs
- "We can live with a 5% cap if the escrow goes to 7.5% and holds for the full survival period." This is the core exchange. Their number is the headline; yours is the recoverable part.
- "We will take your non-compete scope as drafted if you take our earnout metric definition." The non-compete costs you little and is worth a great deal to the founder personally, which makes it the best trade good on the list.
- "The officer certificate form is yours." Concede in the first ten minutes, out loud, and name it as a concession.
Walk-away. Attached to the alternative target, at a worse price. That is real but thin: it costs you money to use, which means it works once and only if the CFO has already agreed. You told me the CFO has not been asked. Until that conversation happens, you do not have a walk-away, you have a preference, and the other side's counsel will find that out in the second session. Have the conversation before the call.
Concession sequence
1. Officer certificate form. Signals cooperation, costs nothing.
2. Survival at 12 months, which you have already given on a call, so re-give it as though it is fresh and ask for something. Signals that calendar terms are tradeable.
3. Non-compete scope, paired with the earnout metric. Signals that you will move on things that matter to the founder personally, which is the message that gets a founder to move.
4. Cap to 5%, paired with escrow at 7.5%. Last. Conceding the cap earlier signals that the whole indemnity package is soft, and they will then come for the escrow too.
Their opening and their real position. They will open holding 5% and 3% and describe both as market [UNVERIFIED - I have no deal data and neither, probably, do they]. Their real position is almost certainly 5% and something above 3%, because the cap is the number a founder repeats and the escrow is the number their counsel actually watches. The tell: if the founder personally joins the call for the non-compete discussion, the non-compete is the emotional centre and the escrow is tradeable. If counsel handles the non-compete alone and the founder appears for the escrow, reverse everything in the sequence.
The fact that would invalidate this plan. Any sign that they have a second bidder. The entire plan assumes your alternative is worse than theirs. If a second bidder surfaces, the escrow stops being a must-have you can hold and becomes the thing you concede to stay in.
Assumptions. That the driver-classification exposure found in diligence is quantified [verify: the cap analysis rests on it]. That "already told them we can live with 12 months" was said by someone with authority [verify: if it was a junior on a call, it can be walked back once, and only early].
What your answers changed. That the CFO has not approved the walk-away is why the walk-away section says you do not have one, and it is the most important sentence in this plan. Without that answer the sequence would have put the cap concession behind a walk-away threat that would have collapsed in the room. That they need to announce before their fiscal year end is what turned the escrow from a want into a must-have: a deadline on their side is leverage on the term that delays their cash, and it is why the escrow concession sits last. Your answer about the 12-month survival changed the sequence only, by converting a concession into a re-concession, so it earned its question but barely.
Why this prompt is built the way it is
## Framework
1. **Price every point twice,** ours and theirs, in the same units where you can. Label your estimates about their side as inferences and say what would confirm them.
2. **Sort into four:** must have, want, trade good, noise. Noise gets conceded early and visibly.
3. **Build the trade pairs.** A concession without a matching ask is a gift and it moves the baseline.
4. **Locate the walk-away and what it is attached to:** an alternative, a number, a deadline, or a person's patience. Nothing outside the room means no walk-away.
5. **Sequence the concessions** and say what each one signals.
6. **Name their likely opening, their probable real position, and the tell that separates them.**
7. **Name the fact that would invalidate the plan.**