Monday, December 17, 2018

11 month delay in selling his business...

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Hey there.

I got an amazing email from one of the buyers I've been working with....


      I called in last year about a business I was interested in buying. After our call I made an offer that was heavy on seller financing and the owner immediately slowed negotiations to a halt.

     I took advice off of some of your videos and did not contact the seller frequently as I did not want to undermine my negotiating position.

     Well last night almost a year to the day of our first contact and eleven months since my offer he called me. He said he has his accountant working on showing him the tax benefits of my offer, and is going to counter me within the next week.

    Once again I can't speak enough about your advice being helpful. Once I receive this counter depending on the terms I will schedule a call with you and we can go over the deal.

     I look forward to working with you more and continue to enjoy your videos every Friday.



So, what's wrong here?

The business seller obviously has no idea what he's doing.  He's flopping around in the small business market like a fish left lying on the dock.

Over the past year, he's been spending his time trying to find a buyer.  

No doubt this has drained his focus on operations.  The risk of confidentiality being broken increases each and every day with every buyer he speaks to.

The offer that R proposed was very reasonable.  I helped him put it together.

The problem was that the seller didn't know that.  His expectations were skewed by his ignorance.

Don't let this happen to you when it comes time to sell your business.  When the decision is made, things need to move fast before your decision to sell starts to erode the value.

Learn more by investing an afternoon in my business exit online course.

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