When a searcher doesn't sell him or herself...

September 13, 2021

by a professional from Marquette University in Kirkland, WA, USA

“I don’t think your client is a good fit for this business” is how the call started. Why isn’t he a good fit given it’s a manufacturing business of a proprietary product and he’s a manufacturing engineer? And he helped grow a company making proprietary products 6X as the VP of sales and marketing. Doesn’t that mean something?

The buyer overlooked one thing; he didn’t sell himself well enough. Qualifications are nice but enthusiasm and relationship are what get you in position for a deal. He’s back in the discussion after my talk with the seller and his team and it’s a good lesson learned – you can’t brag but if you underplay your abilities and interest the perceived “lack of confidence” will hurt you.

Reply by an intermediary
from Indiana University at Bloomington in Carmel, IN, USA

The Seller will sell to someone that they like over those with better qualifications and $. That is also why having an intermediary helping the Buyer (like John) will often lead to a better and quicker deal. I often compare this to the fact that you can represent yourself in court if you got arrested for a felony, but would you do it? Same goes for buying a business but most 1st time buyers think that they can do it by themselves often spending 8-10 months looking at listed businesses and very often give up after being frustrated,

Reply by a professional
from University of Southern California in North Palm Beach, FL, USA

Reality check: If more than one broker or seller shows insufficient interest in you (assuming you’re not trying to get something for nothing), learn how to prepare yourself and search. Collecting anecdotal tips from searchers is not the best way to do it. Situations are unique. Zoom with me if you want to better prepare yourself and find the right business to buy.

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