Some searchers, regrettably, create their own business buyer competition.
December 28, 2021
by a professional from University of Southern California - Marshall School of Business in North Palm Beach, FL, USA
It can happen when they don't adequately manage their interactions with sellers and brokers. And when they naively reveal their search criteria or methodologies to other searchers operating within the same geographic region. Especially when they're interacting with owners not represented by a business broker. And especially when the potential buyer is the only one talking to the potential seller.
Owners, realizing that other buyers might compete for their opportunity, can become motivated to attract other buyers. Seller motivation is fueled when prospective buyers are unreasonable or dither, wasting the owner's time and effort.
Antidote: Buyers must manage the process, and expedite it.
- - - Anyone want to share their tale about this, in a comment below?
You're invited to my next Zoom Q&A event, during which we'll get serous about "“How to Avoid or Beat Business Buyer Competition.”
Trying to protect the confidentially for searchers who want it, this event will not be live-streamed on Searchfunder or anywhere else.
Pre-register now. Attendance is limited. https://us02web.zoom.us/meeting/register/tZAvdemurTooGdQYrYpcej2GDTv0h8tKEjWD
After registering, you will receive a confirmation email containing information about joining the meeting.
My recent e-news shares a link to: 1000 Business for Sale Websites & Networking Groups.
"2021 marketplace nonsense and reality for buyers and sellers of SMBs" https://conta.cc/3oQkFIu
from University of Southern California in North Palm Beach, FL, USA
Should I avoid brokers because they create buyer competition?
How do you know if you’re competing with other buyers?
What penalties can I suffer because of buyer competition?
When am I most likely to encounter or discover buyer competition?
What should I do when sellers or brokers tell me other buyers are interested in the company I am evaluating?
How can I know when to hold 'em or fold 'em when facing buyer competition?
What if sellers or brokers say I must beat a competing buyer's price or other terms of purchase?
What’s the most effective way to beat or avoid buyer competition?
Other than competing with me to buy a business, are there other ways buyer competition can hurt me?
How can I turn buyer competition against itself?
from University of Melbourne in Launceston TAS, Australia