Buying a Business - Chapter 7a

In this episode, we explore the early stage of negotiation when considering the purchase of a business. Once an initial valuation appears viable, the next step is to meet the seller face-to-face to build rapport, gather deeper insights, and begin negotiating. Establishing trust is essential, as both parties are likely to feel cautious and uncertain during the process. Through open conversation and thoughtful questions, we aim to understand the seller’s motivations, concerns, expectations, and the background of the business itself. By focusing on the seller’s perspective, addressing their worries, and carefully gathering information about the company’s operations, marketing, and ownership structure, we can determine whether the opportunity is worth pursuing and how a potential deal might be structured. Mike Knight MBA FCIM  Director, MKLINK Ltd