What Buyers See Before They Say “Let’s Lower the Offer”
- Unreconciled Financials
- Monthly books aren’t closed or don’t match your revenue narrative.
- Founder-Dependent Operations
- No leadership bench or documented processes—founder is the business.
- Inconsistent Metrics Across Decks & Reports
- Your pitch deck says one thing, your P&L says another. Credibility drops fast.
- Cap Table Confusion
- Unclear SAFEs, side letters, or phantom equity without legal clarity.
- Lack of Cohesive Systems
- Finance, tax, legal, and ops aren’t integrated—signs of fragility.
- No Audit Trail or Documentation
- Buyers can’t verify claims with source documents—slows everything down.
- Weak Gross Margins or Unexplained Variance
- Margins fluctuate or erode with no insight into cause or correction.
- Deferred Maintenance in Ops
- Legacy systems, outdated vendors, or “we’ll fix it later” issues compound fast.
- Cash Flow Unknowns
- No reliable forecast, burn multiple is unclear, or runway is misrepresented.
- No Exit-Ready Narrative
- There's no compelling story tying together financials, vision, and scale readiness.
Pro Tip: These deal killers don’t explode all at once. They create doubt, and doubt erodes valuation—quietly and early.
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