Richard Parker Of RichardParker.com Introduces: Deal-Breakers In Buying A Business
Richard Parker from www.RichardParker.com discusses how issues in the business sale process which are not that significant or even logical to the opposite party can easily become deal killers when buying a business.
(Thursday, November 22, 2012) U.S.A. - Richard Parker, founder of Diomo Corporation, The Business Buyer Resource Center and author of the How To Buy A Good Business At A Great Price series says: "In every potential business sale, sellers and buyers always have an issue or two that for them is a "deal-breaker". Sometimes, these issues are not that significant or even logical to the opposite party, yet, they can easily become deal killers"
Host Richard Parker says: "most of the time, these are serious and understandable matters and critically important to one of the parties. The danger however; is when they are positioned as an “all or nothing” scenario"
At this point Richard Parker goes on to say: "First, if the other party cannot make any accommodation, the deal may die. Second, if the initial party backs down from their position, they will set the stage to not be taken seriously on any other matter they deem to be imperative to the deal and open themselves up to negotiation on every point"
Richard Parker, founder of the popular blog dedicated to buying and selling a business states: "that every situation can be resolved unless there is a third-party preventing it (i.e. a landlord who no matter what will not assign the lease). If the matter at hand is controlled by the buyer or seller, there is always a solution"
He then discusses how when people take a hard stance in negotiations, often "there is an underlying reason for the problem and it is that below the surface issue which must be addressed"
Richard Parker of www.RichardParker.com then talks of how "the bottom line here is to remain focused on getting to the finish line. Think very hard about ever drawing a line in the sand because it is very hard to undo that position. Buyers and sellers must both understand that there are many key issues that arise during the business sale process where the parties will have completely opposite positions. "
It’s very clear that Richard Parker adopts the philosophy that every single problem has a clear solution and instead of focusing on deal-breakers, you should always work towards being a deal-maker!
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