My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
One Choice Is No Choice
Having only one potential buyer gives you essentially zero leverage in negotiations, equivalent to having no buyers at all
Decision Rule
Always cultivate multiple potential buyers before entering serious negotiations, even if one seems perfect
How It Works
Competitive tension creates urgency, validates your valuation, and gives you alternatives if terms become unreasonable
Failure Modes
Getting too excited about first interested buyer
Not wanting to 'shop around' out of loyalty
Thinking one perfect fit is better than multiple options
Example Decision
“A SaaS startup receives interest from their dream acquirer but continues building relationships with 4 other potential buyers, ultimately using competing interest to negotiate 50% better terms with their preferred choice.”
Related Knowledge
Psychology management is the most important skill during M&A
Founders should invest in mental preparation and support systems before starting a sale process
Four Buyer Categories Framework
A systematic way to categorize potential acquirers into four distinct types based on their acquisition motivations and strategic needs.
DENNIS System for M&A
A systematic 6-step approach to selling your company, adapted from the comedy show Always Sunny in Philadelphia's 'DENNIS System' for dating.
Startup Sale Readiness Assessment
A four-question framework to assess whether you should sell your startup by comparing your current beliefs against your founding assumptions.
Gather comprehensive intelligence on potential acquirers to position your company optimally
Having detailed insights into buyer priorities, pain points, decision makers, and internal dynamics before your first pi
Create comprehensive materials that remove all friction from the buying decision
Buyers can easily understand your value proposition, team, technology, and strategic fit without additional meetings or