What causes delays in a Search?

Hi All,

I would love to get a sense of how searchers experience their search process. Happy to chat privately as well.

1. Can you estimate percent of time spent in these steps?
   a) build list of businesses
   b) reach out to businesses
   c) evaluate businesses
   d) LOI
   e) close the deal
   f) other
   
2. During your search what are the most common things a business owner does/doesn't do that cause delays in your search?