4d • General discussion
The seller told me the business ran itself.
He was right.
It ran itself straight into the ground for 18 months before he decided to sell.
I missed it completely.
No systems. Just him. Every relationship, every vendor call, every client decision lived in his head.
The moment he stepped back, revenue started quietly bleeding.
By the time I was reviewing the books, the trailing 12 months looked clean.
The trailing 36 told the real story.
The business was not broken. It was dependent.
Owner dependency is the most expensive thing you can buy in a small business acquisition. You do not
see the bill until after closing.
Comment DEPENDENT below and I will send you the exact questions I ask every seller to find out if the business actually runs without them.
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The seller told me the business ran itself.
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