Most potential sellers and buyers of small and midsize businesses realize they don’t know enough about some of the things that confront them, especially during their earliest interactions with each other.
They’re wondering, “What’s really going on?”
And they don’t want to spend a lot of money on advisors.
They simply need clarification or a second opinion or a reality check when the other side of the dealmaking table says or does something that must be correctly and realistically interpreted and handled for the potential deal to safely progress.
Get a Reality Check
Typical common sense is not enough when it comes to buying and selling businesses.
A reality check (aka sniff test) can clarify and reveal reality. It can correct misconceptions about an idea, offering or proposal.
Ted Leverette, The Original Business Buyer Advocate ®, helps people avoid deals that should not occur and expand the possibilities for dealmaking for deals that should occur. Buyers and sellers can save time, money and aggravation.
How about this?
Complimentary 30 Minute Initial Consultations **
(Use the email link below.)
Coaching on an hourly basis. We’ll define the scope of work and the consulting fee before we begin.
- Besides directly serving buyers, one-on-one, Ted Leverette also can confidentially work in the background directly with advisors and appraisers without disturbing their relationships with their clients.
Please confidentially use the email link below to tell Ted Leverette about yourself and the situation for which you need more insight.
Listen & Learn Podcast ™
Listen to one of Ted Leverette’s most popular podcasts: Kryptonite for Business Buyers (2 minute mp3). You’ll hear how he thinks, what he knows and how he helps people buy the right business the right way.
Get street-smart insight with these dealmaking tools:
- How to Prepare Yourself and Find the Right Business to Buy
- How to Buy the Right Business the Right Way—Dos, Don’ts & Profit Strategies
- How to Get ALL the Money You Want For Your Business Without Stealing It
And then think about this:
How much can business buyers afford to lose?
- At least 10% is the typical reduction of the seller’s asking price for buyers who know how to analyze, value and negotiate. And that’s not all. The savviest buyers don’t agree with the seller’s initial terms of sale; the purchase price is not the most important part of done deals.
- Lost opportunity cost is the actual money buyers lose, which is what they would have earned, had they sooner bought a business. And don’t forget the depletion of savings for buyers who don’t have an income while trying to buy a business. Time is money.
- Don’t let lost opportunity costs exceed the price reduction while trying to lower the asking price of fairly-priced businesses for sale.
Reality: It is rare for the sellers’ asking price and the other proposed terms of sale to be as REASONABLY good as they could be for buyers.
More How-To Info
Here’s a link to articles about dealmaking for advisors and brokers, and for people who want to know what professionals know (such as owners, buyers and sellers of small and midsize businesses).
You can learn more listening to our Podcasts & TeleSeminars.
And if you really want to supercharge your dealmaking skills, sign up for our one-on-one private trainings.
** Complimentary 30 minute initial consultations for people who appear to have the qualifications to buy a small or midsize business, as represented by the email or other communications that precede the initial consultation. (This offer is for new clients only and is subject to change without prior notice.)