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.”