What Being Approached Actually Means
When someone approaches you about buying your business, they are not doing you a favor. They identified an opportunity they believe is worth pursuing. They have advisors, they have done their research, and they have a number in mind.
The most dangerous moment in any unsolicited approach is the first 48 hours. Sellers who respond too quickly, sign things before understanding them, or engage without understanding the process, systematically lose value compared to sellers who pause, get educated, and engage strategically.
Your first response to a buyer sets the tone for every negotiation that follows. The free course gives you the vocabulary and context to respond from a position of knowledge.
What You Need to Know First
What your business is actually worth to a buyer
Not what you think it is worth. How buyers calculate value using EBITDA multiples and what moves that number.
What the process actually looks like
The stages, the professionals involved, and what each one is there to do. You cannot navigate what you cannot see.
What an NDA, LOI, and exclusivity period mean
These are not formalities. Each one has legal and strategic implications that affect your leverage and options.
How to evaluate whether this is a good offer
Headline price is not the same as net proceeds. Understanding structure, earnouts, and working capital changes everything.
Whether you need a broker and how to find one
In an unsolicited approach, representation is critical. Know what a broker does and how to evaluate one quickly.
The Process
What a sale actually looks like from start to close.
Due Dilly
1Explore
Thinking about sellingDue Dilly
2Prepare
Preparation and readinessDue Dilly
3Advisors
Advisor selection4CIM
Teaser or CIM creation5Buyers
Buyer outreach6NDA
NDA7IOI
IOI8LOI
LOI9SPA/APA
Definitive agreements10Financing
Financing11Close
Close12Transition
TransitionWhere Due Dilly adds value
Legally significant steps