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- The Deal Fell Apart. Here’s What Happens Next.
The Deal Fell Apart. Here’s What Happens Next.
Hey oh! Your weekly business buying & building newsletter where we get knocked down and we get up again!
The Deal Fell Apart.
Last week, the seller called.
They’re relisting.
No blow-up. No drama. Just… done.
After months of modeling, structuring, SBA conversations, revised offers, and hard negotiations — we’re back searching.
That’s part of this game.
But here’s the truth most people don’t talk about:
Deals don’t fall apart because you’re unlucky.
They fall apart because your deal machine isn’t strong enough yet.
So instead of stewing, we’re upgrading the machine.
What We’re Doing Now
1. Staying Traditional — But Sharper
We’re still working brokers.
But this time:
Tighter buy box
Faster LOI turnaround
Pre-emptive diligence checklist
No more “interesting” deals.
Only businesses that fit:
Service-based
Strong recurring revenue
Replaceable owner
Durable in a downturn
Execution isn’t the weak link anymore.
Deal flow is.
2. Doubling Down on Off-Market Outreach
Last summer we ran a direct outreach campaign — letters, email, some calls.
It worked… but we didn’t go hard enough.
This round:
More phone calls
More in-person visits
Better follow-up cadence
Tighter messaging
We’re refining scripts (based on the original Acquire & Build playbook and focusing
heavily on respectful, owner-first conversations.
Because the best businesses are rarely listed.
They’re owned by someone who might sell — if approached the right way.
3. Exploring a Retained Buy-Side Firm
We’ve also been researching retained search firms — including Calder Capital.
They’re Michigan-based, run structured multi-touch outreach, and guarantee proprietary seller introductions within your criteria.
It’s not cheap….actually…they are expensive!
But neither is losing another year to inefficient deal flow.
If you’ve worked with Calder (or another buy-side firm in Michigan), I’d genuinely value your perspective.
4. Testing Something New: Exit Identity
This failed deal reinforced something important:
Many sellers aren’t ready to sell.
They’re just tired.
So I launched a small ad campaign driving owners to:
It’s a short survey that delivers a custom exit-readiness profile.
Not a pitch.
Not a valuation gimmick.
Just insight.
If we can build trust with owners before they list, everything changes.
The Bigger Question:
How Do You Actually Close a Deal After 3 Years?
Here’s what I believe now:
You need three things working at the same time:
Off-market deal flow
Broker relationships
Execution discipline
Miss one — and the deal dies.
Now the focus is volume and velocity of quality opportunities.
What Three Years Teaches You
The ETA world loves to talk about IRR.
The returns are real
But nobody talks enough about:
The number of dead deals
The seller who changes their mind
The broker who goes silent
The financing term that shifts
The emotional fatigue
Buying a business is not just financial engineering.
It’s timing.
It’s psychology.
It’s family readiness.
It’s stamina.
And it’s conviction when everyone else slows down.
What Changes Now
We’re building four lane path:
Broker pipeline
Direct owner outreach
Buy-side advisory evaluation
Owner education via FuturePath
No more waiting for listings.
No more hoping the right one appears.
We’re creating surface area for luck.
My Ask
If you’ve:
Closed an off-market deal
Worked with a buy-side firm
Cracked the Metro Detroit broker ecosystem
Had a late-stage deal collapse and learned from it
Hit reply.
This next acquisition will close.
Not because we’re hopeful.
Because the system is getting sharper.
Onward.
Matt