Chapter 08 of 10
The Offering · Vol. 02 No. 01
The Decline · 08
September 2026 · London
The 2017 habits that will kill a 2026 offering · Success fee
Paying the communications firm as a broker
Alignment is the founder’s word. Arranging is the later reader’s.
Percentage of raise. Token-only pay. “When we list you get a cut.” Founders mean alignment. We hear a request to stand next to capital formation without the licence. Fixed fees, milestones, prepaid retainers. One written proposal, two follow-ups, close-lost. We will not renegotiate because the round is imminent. Imminent is not a memo.
The same problem appears when a KOL or a pad is paid for buyers. That may be their licensed business. It is not ours. Do not ask us to sit inside their fee.