4d • General discussion
The Reason For Selling Is The Beginning, Not The End.
The buyer asked the seller why he was selling.
The answer sounded reasonable.
“I’m ready to retire.”
That may have been true.
But the buyer made a mistake.
He stopped there.
A seller’s stated reason is the beginning of the conversation, not the end.
Retirement can mean the seller is tired.
It can also mean the business has become harder to run.
Health issues can mean a motivated seller.
It can also mean operations have already been neglected.
Burnout can mean opportunity.
It can also mean the team is burned out too.
The reason for selling matters because it tells you what you may inherit.
A good buyer listens respectfully, then verifies operationally.
What changed in the last 24 months?
Are revenues softening?
Has capex been delayed?
Have employees left?
Have competitors entered?
Is the owner leaving because he wants to, or because the business now requires energy he no longer has?
The answer affects structure
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The Reason For Selling Is The Beginning, Not The End.
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