The process of engaging with a prospective buyer is without a doubt not only an investment of emotions, but also an investment of time. Sorting out those who are true prospects and those who are just wasting your time is essential in the process of selling a business. We agree with Axial.net’s panel of advisors on who to watch out for.
The first thing to be conscious of is your buyer’s approach. Most people who are selling something they’ve worked so hard at care about the future of it. Be weary if buyers throw out immediate offers or ask too many questions that been covered in the marketing materials they already reviewed. People who are truly interested will take their time and will thoroughly review anything pertaining to a deal.
Those who are truly interested will ask a multitude of questions. Pay close attention to the questions being asked. Make sure that they’re intelligent and unique to your businesses. You can get a good gauge of a prospect’s intent by reading between the questions as well.
Finally, paying attention to how they speak with you and treat you is important as well. Let’s be honest, you want to like the people you’re selling to. Your legacy will be in the hands of these new prospective owners and you want it upheld. So if you’re feeling turned off at the beginning there’s no sense in continuing the conversation.
These things can be difficult to spot when buyers are selling their business without the help of advisors. WhiteHorse Partner’s team always has your best interest in mind when we’re helping you to sell your business. Not only is receiving the highest amount and best terms for your deal a priority, we also value your time and make the process as seamless as possible for you.