Two founders discuss how to negotiate a business sale. They emphasize preparing financial documents, building rapport with buyers, and spotting who's serious about buying versus just kicking tires.
We really came very well equipped. We were very serious to sell the business and. And so I think he appreciated that as well. And, you know, he jived with us and yeah, it was a great match all around and he felt very comfortable.
There's so many things about what you, what you just said that I absolutely love. The first is just, you know, the importance of just getting along with the buyer. It's massive because you have to work with that person to some degree. You have to transfer the business over. Usually you're going to be working with them for at least, you know, a couple hours a week or, you know, you're going to want them to carry on what you built. And so just vibing with them can go such long ways. And you also just build trust. You know, you each just align on values or how you see the business moving forward. The second part that you said that I think is amazing, which is the amount of preparation you did with the P and L and the decks that you put together in the data room. There is just so much value in doing that for buyers. And another piece of value is when you start meeting with buyers, it becomes very obvious which buyers are prepared and they've done their homework. And that should really separate, you know, serious buyers from non serious buyers. So great job there.
The Buyers Who Made the Move: What They Bought, How They Did It, and What Happened Next
