Street-Smart Negotiating for BUYING a Business

You’re in control.

  • Or they are.

(Emotional) Questions to Uncover the Truth and Get What You Want

  • These questions are for negotiating, especially when the other side is not delighted with your requests or proposals.

Advising or buying a business? If you don’t get this right . . . negotiating . . . right from the first moment, you might not buy the right business the right way. You’ll probably either buy the wrong business or buy the right business the wrong way. Or be ignored by brokers and sellers.

That’s why I suggest beginning with (the right) questions.

The biggest mistake negotiators make is not involving the other side’s emotions, which taps into their hidden agenda.

  • You should NOT ask all these questions; but knowing them will help you detect the answers without asking.

People searching for businesses to buy, for example, PREMATURELY push the typical due diligence questions at brokers and sellers. And then these searchers wonder why their opportunities evaporate.

Spoiler alert for business buyers: You can do everything else right but if you don’t ask this ONE question and get an honest answer there’s a high probability that whatever time and money you invest trying to do a deal will result in no deal.

This essential question is asked early. Buyers properly handling it pave their way for street-smart evaluation, negotiation and done deals.

Failing to ask this question is why so many deals fall through, even worthwhile transactions that should have closed.

Get past the facades.

Few searchers know the best questions and how to stage their deployment. It’s not enough to know the questions. You’ll do better directing certain questions to these people:

  • Yourself
  • Brokers
  • Sellers
  • Employees
  • Customers
  • Suppliers
  • Landlords
  • Sources of Financing
  • Legal Counsel
  • Accounting & Taxation Experts
  • Valuers
  • Business Buyer Advocate Ted J. Leverette

These are the BIG-PICTURE questions. That put into perspective EVERYTHING else. Get these right and good things happen.

  • You should NOT ask all these questions; but knowing them will help you detect the answers without asking.

These questions precede and go beyond the typical due diligence questions. Most of what you find online are a dime-a-dozen . . . and that’s what they’re worth.

Searching for businesses to buy can be frustrating. But it doesn’t have to be . . . if searchers deploy best practices to handle the initial communications and interactions between searchers, advisors, brokers, sellers and business owners.

  • How to avoid being taken.
  • Nourish win-win relationships when the going gets bumpy.
  • Spoiler Alert: Expect a few surprises that you will like.

Some of the other topics:

  • What about business brokers? Friend or foe?
  • Using questions to bridge disagreements.
  • Controlling negotiations.
  • Don’t leave the meetings without this.
  • What searchers should disclose, how and when.
  • Weasels and other nogoodniks.
  • Minimizing frustration.
  • The most important question 99% of searchers don’t ask.

Negotiating won’t be as frustrating if you know the lay of the land.

Buyers can do everything else right but one thing can undermine their deal and be fatal for their acquisitions or mergers.

Here are two of my resources that 600+ business brokers use to refine their knowledge of the other side of their dealmaking tables, so they can deliver even more astute service on the buy/sell playing field.

Request an audio recording, excerpting some of the questions from the live webinar: Email. 

Improve your search and dealmaking:

Schedule an hour of coaching with Ted Leverette, The Original Business Buyer Advocate ®