Today, a first official offer was received for one of the businesses I currently have on the market. But… it was nowhere near where it needs to be, if the maker of the offer wants to be a serious contender.
When asked for the logic behind the offer, it became clear… whilst the offer-er had a really good handle on one aspect of the business, they didn’t understand another major component. They were trying to layer long-held views of one business model (no longer in existence with this particular business) over an evolved, already operational business model.
Think logistics, for example… there are so many ways of executing this part of the “backend” these days, without even having to hold a warehouse. This is a difficult concept to truly get one’s head around for those who’s background has always been that of being in control by having it onsite; up close and personal.
So, what does this mean in regard to the offer?
What it may actually be flagging instead is that the maker of the offer is just not the right one to buy.
“What would the owner care?” you may be thinking!
As long as the money is handed over, why would it matter?
Because Business is Personal, whether it’s acknowledged or not. A seller will not hand over their business (unless they really have no other choice) if they think it will fail fairly quickly.
Let’s face it, the reason they’re selling is so the business continues.
They could have just shut it down if this wasn’t the case…
- when buyers are sitting on a “gold mine” and don’t see how it can help them get out…
- met another fabulous little retailer today…
- Why Retiring Business Owners Balk at the Idea of Selling Their Company…
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