Preparing for the Unexpected - Reasons a Buyer Backs Out of the Sale of a Business

In episode 35 of Financially Simple, Justin considers disruptions that could happen at the last minute of a sale that could derail the process. You're in the final stretch of the sales process of your Business when the unexpected happens and the entire sale is thrown into uncertainty! Justin looks at the possibility of disruptions happening at the last minute, what the causes might be, and how to go about solving the issue to get the sale back on track. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening! TRANSCRIPT: 4 Common Reasons a Buyer Backs Out of the Sale of a Business – Post #35   TIME INDEX: 00:31 - Preparing for the Unexpected - The Disruptions Just Before the Close 00:53 - Last Minute Disruptions 01:01 - The Bad 02:07 - The Good 03:43 - Last Minute Changes Can Happen 04:04 - Financial 05:23 - Disgruntled Parties 06:25 - Waiting on Approvals from Third Parties 06:48 - It's a Dead Deal 08:13 - What to Do if the Unexpected Occurs 08:18 - Reduce the Purchase Price 09:31 - Place a Guarantee on the Sale 10:19 - Put an Earn Back or Earn-Out in Place 11:31 - Takeaways For more in-depth reading about this podcast series, pick up a copy of Justin's new book: The Ultimate Sale USEFUL LINKS: Financially Simple Financially Simple on YouTube Financially Simple on Facebook Financially Simple on Twitter ________ BIO: Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute's Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast's guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast's hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Advisors who wished to be ranked in Investopedia's Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia's Top 100 Financial Advisors List.   The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.   This podcast might recommend products or services that offer Financially Simple compensation when you use them. This compensation is used to help offset the cost of creating the content. We will, however, never suggest products/services solely for the compensation we receive.