Most people spend months finding a business to buy.
They run the numbers. They get excited. They sit across from the seller.
And blow it in the first 10 minutes.
They show up trying to "win" the negotiation. They poke holes in the financials. Point out every weakness. Act like they're buying a used car.
The seller shuts down. Ghosts. Or sells to someone else for less money.
I learned this the hard way. Early on I walked into a deal like an analyst instead of an operator. The seller smiled, answered my questions, and sold to someone else at a lower price. Because that person made
him feel safe.
Sellers don't sell to the highest bidder. They sell to the person they trust to protect what they built.
The best acquirers do three things in the first meeting:
- Ask the seller why they started the business. Then shut up and listen.
- Talk about what they'd keep the same, not what they'd change.
- Make the seller feel like the business is going to better hands, not cheaper hands.
Due diligence protects you later. The first conversation earns you the right to get there.
What's one question you'd ask a seller in your first sit down?
Drop it below.