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Most sellers want to be paid all of their money up front, and most buyers want to avoid paying anything up front. For example, when Eric Weiner wanted out of All Occasion Transportation he found a buyer and agreed to accept half of his money in a five-year consulting contract, which sounded great in theory.
Most sellers want to be paid all of their money up front, and most buyers want to avoid paying anything up front. Deals usually get done somewhere in the middle, where the seller agrees to accept some cash and to be paid some of their proceeds over time.
Eric Weiner, for example, started All Occasion Transportation in college and by the time he turned 35, his company was grossing more than $3MM a year. That’s when Weiner decided he wanted out.
Weiner found a buyer and agreed to accept half of his money in a five-year consulting contract, which sounded great in theory but ended up becoming hard to enforce. In this cautionary episode, you’ll learn:
How to get an all-cash offer
During the interview, Weiner also reveals his principal mistake in selling: not running his business like a company that could be acquired. Maximize the cash you get at closing by creating a business that would be attractive to a buyer. See how an acquirer would evaluate your business by getting your Value Builder Score now.