Perhaps one of the most disappointing things for a business person is when a transaction they anticipated does not happen. This could apply to the buying and selling of a business as well as the tee shirt the customer carried around for an hour and then put down and walked out. Hopes dashed.
In the world of selling a business, there are many reasons for the deal to falter. First, it could be that the buyer is just not right – not enough money, not the right skill set, not the right credit or net worth to support the deal. But, often it is a right buyer but other things are off. Sometimes the problem is not having the enough information to engage them or keep them engaged. Or, having the wrong information that they then discover can cause the buyer to become nervous, too nervous to continue. A time lapse, not getting to close quickly enough puts distance between the buyer’s enthusiasm and when they have to pull their wallet out. They might find another interesting business to look at.
So, for a transaction to be most likely to get to close, the seller has to have enough correct information up front, correct and easily reviewed information in the back room, and be willing and able to move the transaction along.
This article confirms and elaborates on all of these points.
