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”
What It Means
Having only one potential buyer eliminates your negotiating leverage entirely
Why It Matters
Without alternatives, you have no leverage to negotiate better terms or walk away from bad deals
When It's True
In any negotiation where the other party knows you have no alternatives
When It's Risky
When shopping around too aggressively damages relationships or creates negative perception
How to Apply
Always cultivate multiple potential buyers simultaneously
Don't reveal you only have one option
Build alternatives even when you prefer one buyer
Example Scenario
“A mobile gaming studio receives acquisition interest from one publisher but continues building relationships with 3 others, ultimately using competing interest to improve the terms with their preferred partner.”
Related Knowledge
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
Manage multiple potential buyers simultaneously to create leverage and maximize valuation
Multiple term sheets arriving within the same week, allowing you to negotiate better terms by creating competitive tensi