When you enquire into the potential sale of a business many people call and say, tell me the details about your business. Think of the question from the seller’s perspective. The seller will ask to himself, are you a serious buyer, do you have the means to buy the business, do you have the expertise to buy the business, are you a competitor who wants to advertise that I am for sale and want to go after my customers? In a few sentences, the buyer can get an idea if you are serious buyer of a business. If your question is tell me about your business, the question is too general and it sounds like you are fishing and you are not a serious buyer. If you are reluctant to provide me any description about who you are, you look like you are fishing and are not serious. If you need a certain training or a certain qualification which is stated in the listing of the business for sale, then state if you have that qualification.
When you are looking to buy a house, the average person gets a positive or negative impression within 20 seconds when they walk into a house. Buying a business is no different. If you give a positive impression to the seller, they will be more favourable in describing their business. If they believe that you are not serious, they won’t provide you with information so that you can decide if you want to go to the next step. If you were a serioius buyer and the seller could not determine that, you may not get off to the information you need, you may abandon seeking more information. This could have been the ideal business to buy but you did not know it and you lost the opportunity. Since you did not know that it was a great opportunity, you will not feel bad because you made an decision with too little information. Just remember, would you have made the same decision to discontinue discussions if you had more information?
Informed buyers can make good decisions, uninformed buyers can easily make the wrong conclusion. Keep this in mind next time you send a seller a message using our confidential messaging system.