Mark Osborne explains why a buyer saying they're interested doesn't mean they'll actually buy. Many prospects want the owner to stay on after the sale to keep the business running, which limits your freedom and differs from how you've made decisions before.
Then indeed, people make offers of interest all the time. I have clients telling me, oh, I have lots of people calling me up, they're interested. They're not really interested, they're hunting. Right. And so what would make them really interested? When they come and do due diligence on your business. And not only do they, you know, look at the numbers, but they look at how does the business survive without you. And very often they're going to only make an offer contingent upon the owner staying at least for a few years to make sure it succeeds. And that's a very different dynamic usually than that owner has had, where he makes all the decisions and he doesn't, he doesn't get anybody talking to him about if he spends too much money on entertainment.
How Can You Maximize Your Business Value Before Selling? with Randy Katz Video
