E279: 94% of Buyers Never Close—Here’s Why the Best Deals Go to the Ones Who Don’t Pay the Most

Watch Here: https://youtu.be/JAnrssj-v2g

About the Guest: 
John Martinka is a veteran dealmaker who has spent nearly 30 years helping executives exit corporate life by buying businesses—and helping business owners exit with style and grace. Based in the Pacific Northwest, John runs Nokomis Advisory Services alongside his daughter, focusing on $5–15 million deals. He’s also the author of five books, including Buying a Business That Makes You Rich and If They Can Sell Pet Rocks, Why Can't You Sell Your Business?

Summary:
In this insightful episode of How2Exit, host Ron Skelton sits down with seasoned M&A advisor and author John Martinka, founder of Nokomis Advisory Services. With three decades of experience and five books under his belt, John shares a no-nonsense view of the acquisition world—highlighting why rapport trumps spreadsheets, how buyers sabotage themselves, and what sellers really care about when handing over the keys. This episode is a goldmine for first-time buyers and retiring business owners alike. John deconstructs the psychology behind a sale, the pitfalls of MBA-fueled delusions, and the reality that good businesses do sell—just not always to the highest bidder.

Key Takeaways:

1. People, not just numbers, drive deals: Relationships and cultural fit often outweigh the purchase price. If the seller doesn't like you, you won't get the deal—no matter what you offer.
2. Sellers want a safe pair of hands: Beyond valuation, owners care about who will take care of their people, their customers, and their legacy.
3. Most buyers never close a deal: John estimates 94% of buyers walk away without ever completing an acquisition. It’s not about funding—it’s about grit, relationship-building, and actually doing the work.
4. New buyers often ask for financials too soon: Many rookie buyers blow the deal by jumping to numbers without building trust. This is a relationship business, not just a spreadsheet game.
5. The “Ivy League trap” is real: Fancy degrees don’t mean you’re qualified to run a blue-collar business. Know the culture before you buy—or you’ll get eaten alive.
6. Forget perfection—buy a good business and go: In today’s climate, waiting to find a ‘perfect deal’ is a mistake. If the business fits your skill set and the seller trusts you, don’t sharpen the pencil—just close.
7. Due diligence goes beyond the books: Understand the customers, culture, suppliers, and lease terms. Financials alone won't reveal the real risks or opportunities.
8. Small business accounting is messy: Expect creative add-backs, non-GAAP practices, and a paper trail that takes digging. Don’t panic—but don’t blindly trust either.

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Contact John on
Linkedin: https://www.linkedin.com/in/johnmartinka/
Website: http://www.nokomisadvisory.com/
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