Tip 5: Keep Your Foot on the Gas

The biggest mistake sellers make when they accept an offer is getting so excited that they lose focus on their business. Remember – over half of deals don’t make it to the closing table, even after an offer is accepted. If you want to close the deal, focus on running your company until the check clears.

If revenues slip during the process, expect the buyer to negotiate a lower price. On the other hand, an increase in revenue creates a stronger position to lock in your terms. Work to keep the sales pipeline full until the closing. You should also send the buyer updates regarding any new activity in the sales pipeline. Send the buyer as many positive updates regarding your business as possible. 

A steady stream of positive updates will keep the buyer motivated, which helps maintain momentum. For example, if the buyer discovers any problems during due diligence – a key customer or employee that may not be retained, for example – this issue may be offset by new positive developments in your business. You can mitigate the loss of a key customer by saying, “Yes, I understand your concerns, but we have three new potential customers in the sales pipeline that could potentially increase revenue by 10% to 20%. So while I understand your concerns regarding the loss of a customer, I feel these are more than offset by the prospects we have with these new potential customers.”