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.”