The asset can be in good running order, but if it runs on people or conditions that won't transfer when the business sells, the price at close has to come down. Now we know that with QOE and Financial diligence, but how deep are we looking into how the Operations transfer or continue with the Buyer? Those factors can be just as, if not more, damaging to the condition of the business. Don't pay the brand-new price if the business you will receive is junked. We know to look for revenue concentration or inconsistent cash conversion, but how much attention are we giving to Single Points of Failure (beyond the Owner)? Are we looking into whether the agreements that advantage the business transfer with the business? There are a number of ways the business could be working, but in poor condition to transfer, that should impact your analysis, terms, and pricing. Let's make sure you get to see the whole picture and early enough to price it right.