Small Business Owner: What To Do When A Deal Fails?
by Martin Hansen
There are 1000+ reasons deals fail. The reason behind the failure in the purchase or sale of a small business is only important if it is critical to moving forward with a new sale or purchase. Otherwise, you are wasting precious time not getting on with your life or building your business; to put it bluntly, “wound licking” should only be applicable to animals, not business owners.
A Failed Sale
So…your deal failed, you’re the seller, and you want to go back to market – what now?
Go back through the process you undertook and confirm you followed and completed the proper steps and executed them accordingly. If you failed to follow a process or worse, didn’t have one, go to www.dealmaker360.com for the necessary resources to get the deal back on track and completed.
A Failed Purchase
Or, your deal failed, you’re the buyer, and you still want to buy a business – what now?
It is the same process as the seller above followed: go back through the process you undertook and confirm you followed and completed the proper steps and executed them accordingly. If you failed to follow a process, enter your next deal following the proven www.dealmaker360.com process to quickly and successfully close!
In our experience, most transactions, or “deals,” fail because the buyer and/or the seller fail to follow a professional process. There will always be potential problems that come up and threaten to derail a deal, but adhering to a professional process will prove critical to your success. It’s important to note that although you can find hundreds of resources on the web, if you have a CPA or Business Advisor, there is an excellent chance that with DealMaker360 Professional Edition, they can navigate you back through the process to a successful close. Good luck!