DecaMillionaire Decoded Preparing for the Unexpected - Reasons a Buyer Backs Out of the Sale of a Business
In episode 35 of Financially Simple, Justin considers disruptions that could happen at the last minute of a sale that could derail the process.
You’re in the final stretch of the sales process of your Business when the unexpected happens and the entire sale is thrown into uncertainty! Justin looks at the possibility of disruptions happening at the last minute, what the causes might be, and how to go about solving the issue to get the sale back on track.
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TRANSCRIPT: 4 Common Reasons a Buyer Backs Out of the Sale of a Business – Post #35
TIME INDEX:
00:31 - Preparing for the Unexpected - The Disruptions Just Before the Close
00:53 - Last Minute Disruptions
01:01 - The Bad
02:07 - The Good
03:43 - Last Minute Changes Can Happen
04:04 - Financial
05:23 - Disgruntled Parties
06:25 - Waiting on Approvals from Third Parties
06:48 - It’s a Dead Deal
08:13 - What to Do if the Unexpected Occurs
08:18 - Reduce the Purchase Price
09:31 - Place a Guarantee on the Sale
10:19 - Put an Earn Back or Earn-Out in Place
11:31 - Takeaways
For more in-depth reading about this podcast series, pick up a copy of Justin's new book: The Ultimate Sale
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BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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