Avoiding Fatal Cases of “Business Buyer Fever”
Is there a greater fool to take your loser off your hands?

Avoiding Fatal Cases of “Business Buyer Fever”

“Business Buyer Fever” (a sometimes condition) that I coined decades ago.

It characterizes people seeking businesses to buy. They’re propelled by restlessness and excitement as they anticipate buying the right businesses the right ways. And that’s well and good unless they are hobbled with buyer fever (especially the fatal kind).

When buyer fever humbles us, let's hope we can find greater fools to take our losers off our hands.

What about Buyer Fever?

You need to be hot for a business, but it can kill you if you get too hot too soon and for the wrong reasons. You’ll know when your fever is dangerous. It’s when you cross the threshold of being a calculating person to thinking you must have this business; let’s get this deal done!

It's okay to be excited. If you're not, you're probably examining the wrong business.?

But buyer enthusiasm isn't enough. It can lead to a fatal case of buyer fever. We tell buyers to be careful if they act on what they think they know, because they can make big mistakes if they are wrong or if they don't know everything that they should know about purchasing a business.

“Death” from business buyer fever occurs when a buyer wants a particular business so badly that common sense goes out the window. Even people who know what to do sometimes do the wrong thing, especially if they have a bad case of buyer fever.

Believing “I’ll know it when I see it” causes sellers and brokers to view you as being unprepared. The window-shopping search tactic encourages buyer fever.

Many mistakes that buyers make are errors of omission, not knowing what to do. Even people who know what to do sometimes do the wrong thing.

What can cause a fatal case of buyer fever?

Symptoms include:

  • Buyer competition, real or phony, can increase your temperature.
  • Deciding upon your acquisition criteria after you commence your search.
  • Advisory team or intermediaries infected by conflict-of-interest.
  • Inadequate due diligence.
  • Being unaware of the selling prices and terms of sale for similar businesses.
  • Weak-kneed negotiating.
  • Too-easily influenced by the seller and seller representatives.
  • Using "good luck" business valuation techniques.
  • Non-definitive purchase and sale agreement.
  • Verbal representations or understandings.
  • Premature closing.

Business buyers who know how to search for winners don’t worry about losing acquisition opportunities. Worthwhile deals are like buses; more will be by soon.

I am the Original Business Buyer Advocate ?, and I can improve your marketability to business sellers, brokers, investors, and others. And then show you how to find and buy the right businesses the right ways.

Email me from my website, https://partneroncall.com/. Or, DM me on LinkedIn.

Why me?

For decades, worldwide, I’ve evaluated, trained, coached, and advised searchers and buyers on the basis of hundreds of done deals. My colleagues have shared information about thousands of searchers and dealmakers.

  • We have no businesses to sell or recommend.
  • No conflict of interest.
  • Our loyalty is solely to buyers looking for opportunities leading to done deals.

Not sure?

Watch this:

2-Minute Video Reveals What The Savviest Searchers Do

Read this:

How to Prepare Yourself and Find the Right Business to Buy

Preview my books:

120 Financial Lifelines for Small Businesses

How to Prepare Yourself and Find the Right Business to Buy

How to Buy the Right Business the Right Way—Dos, Don’ts & Profit Strategies

21st Century Entrepreneur Ideas for Kids and Aspirational Adults (Complimentary)

How to Get ALL the Money You Want For Your Business Without Stealing It (USA and Canadian versions.)

Ted J. Leverette

The Original Business Buyer Advocate ?

“Partner” On-Call Network, LLC

https://partneroncall.com/

Each Office Independently Owned & Operated

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Ted Leverette The Business Buyer Advocate

For decades: Helping people find and buy the right businesses the right ways. Avoid dumb deal. Make good deal. Everybody happy. OH YEAH! (I'm not a broker.)

1 年

In case you did not get my eNews: https://lnkd.in/ebP5MyF8? The lead topic: The Most Common Ways Business Sellers Trick Buyers Dozens of them, any one of which can result in big gains or losses, depending upon your position on the dealmaking field. This is the first time I’ve shared this information outside my clientele and the 298 professional advisors I’ve trained to better-serve buyers and sellers of SMBs. ? Please click “Join Our Email List” appearing upper right on my eNewsletter.

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