Don’t Point at Ugly Babies
By Rodney Ott – M&A Advisor
I’d like to share some advice for all the would-be buyers out there: Don’t go around telling people they have ugly babies. Selling a business is an emotional time, and business owners have a right to be proud of what they’ve accomplished.
Business sellers have an advantage right now. There are more buyers than good, quality deals on the market. And that means sellers have the option of walking away from the buyers who offend them.
Don’t go around pointing out weaknesses, posturing for a better price in the first interaction with the seller. Build rapport instead.
Ask the following questions:
- What’s important to you?
- What are you trying to accomplish?
- What are you looking for in a buyer?
Those three questions will help you determine if you’re a good fit, and the answers will help you structure an offer that appeals to all the seller’s values, beyond just the price.