The reason I wrote "when a problem comes up" in the title is because I guarantee that it / they will surface. In fact, prepare for plenty of them when buying a business because that's just part of the process.
Personally, I enjoy the messy parts of a business sale transaction; I find them challenging. I always believe there's a resolution to every issue as long as both sides truly want to get a deal done. Yes, it’s true that sometimes the resolution or decision can be to walk from the deal, but that in itself is a resolution.Neither buyers nor sellers should ever be too quick to throw in the towel. Find common ground to the issues. Play "what if." Work on uncovering the other party’s real "hot buttons." Sometimes, you have to give in to get.
This article represents a fraction of what you’ll learn on this topic in the How To Buy A Good Business At A Great Price© series - the most widely used reference resource and strategy guide for buying a business. To learn more click here
Earnouts can be a very effective condition to an offer when buying a business however, they don’t apply to every business for sale. So what exactly are earnouts and when shouldContinue Reading >
It's important to gauge the type of mentality a seller has about negotiating before you start the actual negotiations when buying a business for sale. Similarly, a buyer has to undContinue Reading >
Keeping the seller onboard for a reasonable and effective transition period can be the difference between success and failure for a business buyer to be certain the business gets oContinue Reading >