Most small business buyers don’t walk in with a briefcase full of cash. And while SBA loans are common, not every deal qualifies. When sellers are open to financing part of the transaction—say, 20% to 40%—they instantly expand their buyer pool and increase the odds of getting a deal done at a solid price.
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Why the IOI in Small Business Sales Is Peak Absurdity
The IOI is like the business equivalent of a middle schooler passing a “Do you like me? Check yes or no” note. It’s all vibes, no substance. It might include a price range that’s laughably vague—like, “I’ll pay somewhere between $50,000 and $5 million, depending on how I feel after my morning coffee.” And don’t even get me started on the “due diligence” clause that basically says, “I’ll poke around your financials for a few months, and if I find a single misplaced receipt, I’m out.”
5 Things You Should Never Say When Negotiating a Business Deal
Rushing to close a deal by glossing over details is a recipe for trouble. Skipping due diligence, contract specifics, or financial reviews can lead to costly surprises post-sale. Patience is key in negotiations. Instead of pushing to wrap things up, say, “I want to ensure we’ve covered all the details to make this a smooth transition for both sides.” This demonstrates professionalism and protects your interests.
Debunking the Myth: How Easy It Is to Secure SBA Financing for Your Business
SBA lenders favor buyers with experience in the industry of the business they’re purchasing. This doesn’t mean you need to have owned a similar business, but having a background in the same or a related field reassures lenders that you can manage the business effectively. For example, a buyer with restaurant management experience is more likely to secure financing for a food service business than someone with no relevant background. A well-crafted resume highlighting your expertise can make a significant difference.
The Hidden Costs of Over-Negotiating in Business Deals
Driving a hard bargain can feel like a victory—squeezing out every last penny often seems like the ultimate goal. But what if that relentless focus on the bottom line is costing you more than you realize? The truth is, over-negotiating can erode intangible assets like relationships, trust, and goodwill, which don’t appear on the balance sheet but can have a profound impact on your future success. Let’s explore why pinching pennies can come at a steep price and illustrate this with three real-world examples.