Instead of chasing shortcuts, buyers need a plan: capital, financing strategy, operational knowledge, and good advisors. They need patience. They need to understand that buying a business is not the same as buying a car or house. It’s complex. It takes work. But it’s worth it—if done right.
Transworld
The Tortoise, the Hare, and the Truth About getting there
Fresh off a long five days at our Transworld Business Advisors conference and the IBBA conference for 2025 I am getting to play some catch up but I thought I would carve out some time to pen a reflection I felt I should share.
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.
Why Refusing to Share a Buyer Profile Hurts You as a Buyer
The market for quality businesses is competitive. According to BizBuySell, only 20-25% of listed businesses sell, and desirable businesses often attract multiple offers. Sellers and brokers prioritize buyers who demonstrate readiness and transparency. If you refuse to provide a buyer profile, you’re signaling that you’re either unprepared or unwilling to play by the rules. Meanwhile, other buyers—those who promptly submit their profiles—are moving ahead, scheduling meetings, and building trust with sellers.