What sellers often miss
Many owners become excited when the first serious buyer expresses interest. While that enthusiasm is understandable, an early indication of interest is usually the beginning of the process, not the end. The moment a seller stops exploring alternatives, they often surrender leverage that can never be recovered.
The takeaway
A buyer negotiates differently when they believe they are your only option. They negotiate very differently when they know they are one of several qualified options. The most successful sellers do not rely on a single buyer to validate value. They allow the market to do it for them.
Illustrative, not your deal. Where the book uses dollar figures, they are there to show how something works, not to describe your business. Your banker, your accountant, and your attorney will put real numbers to your own situation. Full note.
Terms this chapter uses
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