Making a difficult judgement call

The transcript discusses the importance of setting correct parameters for bank debt to avoid insolvency. It shares a personal negotiation experience where the speaker gained unexpected flexibility due to a banker's error. When the bank revisited the deal, the speaker chose to renegotiate, prioritizing long-term partnership over immediate gain. This decision proved beneficial when the bank supported the business during challenging times. The key takeaway is the value of fairness and building long-term relationships in business negotiations.

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