Your deal just fell apart. Now what?

Imagine spending weeks analyzing a business, making an offer, and the seller accepts your LOI.

You start due diligence and everything looks perfect.

Then, something goes wrong:

• Financing falls through

• The seller gets cold feet

• You discover a dealbreaker buried in the financials

And now, the deal is dead.

Now what?

First, understand this is normal

Your first few potential deals probably won’t work out.

You’ll come close to the finish line, and then some complication will pop up and the whole thing will fall apart.

This happens to everyone.

In fact, you need to look at 20-30 businesses just to make 2-3 solid offers.

Most offers get rejected, and even accepted offers sometimes don’t make it to closing.

You have to remember that this is a numbers game, not a reflection of your abilities.

Don’t get emotionally attached

The biggest mistake first-time buyers make is falling in love with one deal.

They invest so much time and energy that walking away feels like failure.

But if the price is too high, the terms aren’t right, or you discover red flags during due diligence, the only smart move is to walk away.

There are always other deals out there.

A good deal will still be good in two weeks, but a bad deal won’t get better just because you want it to.

Shift your focus

If you’re only focused on the outcome (closing this specific deal), losing it feels devastating.

But if you’re focused on the process (learning, evaluating, improving your skills), then every “failed” deal becomes a stepping stone to your eventual success…

Where you learn what red flags to look for, and how to get better at due diligence and negotiation.

What to do next

Move the deal to your “follow up later” list in case circumstances change, then immediately shift focus to other opportunities.

And don’t be afraid to circle back every 2-3 months!

Sometimes deals that fall apart today come back together six months later when the conditions are better.

Keep going

Going from zero to one is the hardest part of acquisitions.

Most of your learning curve is front-loaded into finding and closing that first deal, so just remember that every deal that goes wrong gets you closer to the one that goes right.

If you’re ready to take the leap into business acquisition…

I occasionally share interesting deals with this list when I come across them.

If you’d like to get these emails, just fill out the 2-minute survey below.

👉 I want to buy (or passively invest into) a business

Or, if you want to sell a small business and you’re actively looking for buyers, tap the link below and tell me about it:

👉 I want to sell my business

Onward,

— Ben Kelly