The 5 Absolute Best Tips On Why You Must Understand The Buyer Mindset (#183)

[00:00:00] Jeffrey Feldberg: Welcome to the Deep Wealth Podcast where you learn how to extract your business and personal Deep Wealth.

I'm your host Jeffrey Feldberg.

This podcast is brought to you by Deep Wealth and the 90-day Deep Wealth Experience.

When it comes to your business deep wealth, your exit or liquidity event is the most important financial decision of your life.

But unfortunately, up to 90% of liquidity events fail. Think about all that time and your hard earned money wasted.

Of the quote unquote "successful" liquidity events, most business owners leave 50% to over 100% of the deal value in the buyer's pocket and don't even know it.

I should know. I said "no" to a seven-figure offer. And "yes" to mastering the art and the science of a liquidity event. Two years later, I said "yes" to a different buyer with a 9-figure deal.

Are you thinking about an exit or liquidity event?

Don't become a statistic and make the fatal mistake of believing the skills that built your business are the same ones to sell it.

After all, how can you master something you've never done before?

Let the 90-day Deep Wealth Experience and the 9-step roadmap of preparation help you capture the best deal instead of any deal.

At the end of this episode, take a moment and hear from business owners like you, who went through the Deep Wealth Experience.

Welcome to the Deep Wealth Podcast and for this episode, we're going to do a deep dive. It's a solo episode on the five absolute best tips on why you must understand the buyer mindset. Now, before we get going a heartfelt thank you. Our podcast, the Deep Wealth Podcast as ranked by Listen Notes is now in the top 5% of all podcasts globally. And we could not have done that without you.

So thank you for helping us, really make a difference, pay it forward and get the podcast out there. And speaking of which, before we jump into the solo episode, if you find value in this podcast, if you're walking away with strategies that help you both grow your business and increase its value, why not share it with your friends and colleagues and help us pay it forward?

After all a Deep Wealth, our mission is to change the social fabric of society, one liquidity event at a time. And with your help, we're doing that. We're making a difference and we're getting things done.

So that said let's jump right into the five absolute best tips on why you must understand the buyer mindset. And we're going to be focusing primarily on step number three of the 9-step roadmap, which is your future buyer because for most sellers they're selfish, all they think about is themselves.

When it comes to the buyer, the only concern they have is the check going to clear the bank. And when it comes to your liquidity event, after all this is the largest and most important financial decision of a lifetime. You have one chance to get a right. You don't want any deal you want to capture the absolute best deal because you know, it'll help you unlock your financial freedom. So let's look at five strategies that make all the difference and explain why you must understand the buyer mindset.

So for strategy number one, understand the buyer mindset by uncovering a buyer's painful problem. And strategy number one focuses on the what. Now, before we go into the buyer's painful problem, let's go back to the beginning.

When you started your business chances are you found a painful problem that you were passionate to solve and you went out there, you experimented. Things that didn't work you did less of things that did work. You did more of, and before you knew it, you had customers and over time, those customers became raving fans and you have a world-class business.

Well, it's the same principle when it comes to your buyers. And as you know, at Deep Wealth, we're big proponents on having an auction, a competitive bid, where you have multiple buyers take a look at your business and from the multiple buyers, you're going to choose the top three to five buyers who will move forward in the process.

And as we like to say, Deep Wealth, when it comes to really making any decision when you're selecting, whether it be a buyer or an advisor, one is never a choice. Two is a dilemma. It's only when you have three or more that you have a choice and choice is power. So once you've identified the top three to five buyers your mission for each buyer is to uncover the painful problem that's keeping them up at nights. And this is going to take some research. You're going to be going behind the scenes. Your buyer may tell you what the problem is, but most buyers don't. They keep the cards close to the chest, after all, from their perspective, the less, you know, the better chance that they have on having a lower enterprise value, but we're not going to do that.

So you're going to research the buyer. You're going to find out what is that painful problem?. And once, you know, what the painful problem is you and your team, you're looking into, how does your business solve that problem? How does your business help get over that gap that the buyer has? Now, what you're going to be doing with that information is you're going to be collecting all this information and strategy number one, and the other four strategies and at one point, you're going to be including it in a powerful narrative. Once again, welcome to the art side of a liquidity event because your enterprise value is not found in a complicated formula in a spreadsheet. Instead is what you do that's intangible it. Can't be measured by a formula. And as we'll get to in strategy, number five, where we talk all about the narrative.

A compelling narrative that's powerful, that creates a hope of a prosperous and bright tomorrow. That's what's going to move the dial for your deal certainty and your enterprise value.

For strategy number one, again, let's do a quick recap. You're looking at your top three to five buyers and you're finding the, what. What is that painful problem that your business is going to solve?

So a strategy, number one, out of the way, let's now go to strategy number two, which is the power of understanding why a business wants to solve a problem. And as you guessed strategy, number two focuses on the why. So when you know what the problem is for each buyer, you're now asking the question.

Well, why? Why is that a problem for the buyer? And along the way, you're going to be asking other questions. What does it mean to the buyer if the problem is solved? And what's implicit in that question what does it mean if the buyer doesn't solve the problem? Now once again, if a buyer keeps the cards close to the chest you're going to be doing an educated guess a best guess as to why it's important to solve that problem. But your insights aren't going to be far off the mark because after all, you can imagine in your business, what it means when you have this looming problem that you're not able to solve.

Perhaps it's holding back your growth. Perhaps you can't create a market disruption. Maybe you're losing business to the competition who now have the one up on you. And you're desperately trying to figure out, okay, how are we going to solve this problem? What does that look like? Well, it's no different with the buyer.

And here's the thing. When you go from really understanding who the buyer is and you master the art of talking and thinking like a buyer that's where things really begin to change because in your communications with the buyer, when you demonstrate both the "what" and the "why", what you're doing is you're building trust. And as you know, by now at Deep Wealth, our thesis, which isn't a thesis, it's a fact, the currency in mergers and acquisitions it's not money. The currency is trust. Trust is not only for buyers it's for all of your advisors. The more you are trusted the higher, the level of comfort that the people have, and when people are comfortable, when they're relaxed, they not only want to deal with you, but they're more likely to be open with you to be more transparent with

you

[00:08:42] Jeffrey Feldberg: So your mission for each of the buyers is understanding why it's important for them to solve that problem. And sometimes you'll have no clue or idea, and you may be far off the mark. But remember done is better than perfect.

I'm going to share a quick story with you. In one of the early episodes on the Deep Wealth Podcast, we brought on an investment banker and the investment banker was representing a bank. And the investment banker does with a really good investment banker does.

And this is to capture the absolute best deal. And it's now at the closing dinner. Everyone is there, the seller is there, the buyer is there. The investment banker is there. The deal is done. It's closed. There's no more secrets. And at one point in the dinner, the investment banker leaned over to the buyer and said, hey, would you mind telling me why you bought the bank?

And what happened next absolutely floored the investment banker. It was another bank that bought the investment banker's client, and what the buyer said was, well, what was really interesting to us and why we ended up doing the deal was that your client holds a license. And that license in that country not only saves us taxes, but we're going to leverage that license that's going to save us taxes across the board in all of our activities.

And to tell you the truth, the buyer side, and this is where it can hurt a little bit. The buyer said you know what, given what we paid we would have paid even more. We're so happy now that we have this license, that's going to allow us to do things that we couldn't do before. So in this instance, it's an example of, you may never know until after the deal, why it was important for a buyer to buy your business.

But what you're doing is you're taking an educated guess as to what that is. Again, done's better than perfect. Something is better than nothing and chances are, you're going to figure out the why behind the problem.

And so let's now move on to strategy. Number three. Strategy. Number three is why you must uncloak who the decision makers are for a buyer.

And here we're focusing on the "who". This is something that's a very subtle point. There's one strategy and most business owners completely overlook it. Remember, you've got to stop believing and you have to go from believing to knowing in your liquidity event. So just because you're sitting across the deal table and you're seeing all these people that are there from the buyer, that doesn't mean that they're actually making the decision.

Let me give you one of many examples and who the actual buyer is your imagination is really your only limitation. But here again, through our diligence and again, step number four, the due diligence audit, the internal audit that we're doing, not only on ourselves but also on the buyers, as you'll recall, this is where you do a reverse request for proposal.

And you're taking your top three to five buyers. You're asking them very specific questions. One of the questions before you sign the letter of intent before you choose the buyer, that you're going to go into final discussions with your finding out who the buyer is.

Now imagine for just a moment that for one of the buyers, the ultimate decision maker is a board of directors. And when it comes to board of directors there's all different types. Some board of directors are a rubber stamp, whoever the CEO and the team decide to work with, they give their approval.

But then again, we gotta go from believing to knowing maybe that isn't the case. Maybe it's a very active board of directors who hears what the CEO and the team have to say, but they come to their own conclusions. So imagine now you didn't know that the final decision maker is the board of directors and you're going through the liquidity event..

And you're talking to the representatives for the buyer. You believe that these are the people who are going to be making the decision, but guess what? They're not, they're only relaying the information to the board of directors. The danger that you face left as is that board of directors, it may be like a game of broken telephone, they're not hearing the full message. So what can you do in this particular situation?

Well, you could ask to speak to the board of directors. You could find out who is on the board of directors and whether the buyer tells you that or not. It's likely going to be information that you can get anyways, and you can get a sense of who the board of directors are, what they're all about, what they're looking for.

And knowing this information will have you change your narrative and you're also going to act differently in this case because you can't assume that your information that your narrative, that all of the facts are going to get to the board of directors in the manner that they were intended. So you're going to go out of your way to ensure that your message is on point, that you're not just speaking to the people at the deal table. You're speaking to the board of directors and what their interests are.

And once again, on the art side of the liquidity event and squarely in the focus of step number three, Future Buyer we're tuning in to the world's favorite radio station. And if you've been listening to our episodes, you know, the world's favorite radio station, and if you're new, the world's favorite radio station is WII.FM.

The What's In It For Me radio station. And in this instance, it's going to be the what's in it for me, not only for the people at the deal table but for the board of directors as well. And depending on who the board of directors are and what their mandate is, they may have a different agenda. Then the CEO, then the people that are sitting at the table.

Or on the flip side, if it's not a board of directors, we can imagine for a moment that it's going to be a CEO. But is it? Some CEOs they may go along with the consensus of the team. Yet other CEOs come to their own independent conclusion. Even if the team is recommending a particular solution, in this case, your business.

The CEO may have other ideas and go against what the team is saying. So you can never assume who the final decision maker is. And you can never assume that the people sitting at the deal table are the final decision makers. You must know. So going from believing to knowing is everything.

So now that you figure out the, "who" let's go to strategy, number four, which focuses on the "how." and strategy number four is understanding the buyer mindset has, you know, how the buyer pays for the deal.

There's all kinds of different buyers. And each buyer has a very specific situation when it comes to funding the deal. Some buyers may have cash in the bank. Other buyers may want to do a deal where it's going to be cash plus company stock. Yet other buyers may not have the cash in the bank. And they're going to pay for the deal entirely through outside financing.

So in understanding the, "how" the deal is being paid for you now know the financial position of the buyer. And you're also going to know the kind of financing that's involved. And what you're now thinking about how does the financing affect your business's bottom line?

As an example, if the buyer is going to outside markets, maybe they have another group of investors. Maybe they raise the money. Maybe they're going to a bank. Maybe they're going to be doing this through the bond market. Whatever the case may be. How does that affect your business bottom line? Are there going to be interest charges?

And if there are, what is the cost of the interest? How's that going to affect what you're Now on a side tangent here? This is one of the reasons why at Deep Wealth, we do not believe in the "E" word, otherwise known as an earn-out. Let's just imagine for a moment that a buyer is using outside financing and the buyer is passing through the financing costs onto your business.

So your business with you is highly profitable. However, when you take the interest cost and you apply that to the business, your profits are going to go down. Maybe your profits go from profits to losses. Now you're not going to have an earn-out, but if you did have an earn-out. And it's based on the financial performance of the business.

Well, you can say goodbye to your earn-out because, in this instance, those financing costs are erasing the profits, which is likely what your earn-out is tied to. So knowing how the buyer is paying for the deal is everything. And one of the things that you do in the 9-step roadmap and the Deep Wealth Experience is you're taking a step aside and you're really thinking about, well in advance, what are your deal points and you're no-fly zones.

So, as an example, deal points are things that must absolutely be in the deal. If they're not in the deal, which also includes a letter of intent. You're walking away from the table. And you're no-fly zones. If certain things are in the letter of intent. If they're also in the deal itself and it's not what you want. Once again, you're walking away from the deal table or from that buyer. And this is where choice is so powerful in a liquidity event.

When you have choice amongst different buyers, you can decide to take a pass. So let's do a quick thought experiment. Let's imagine for just a moment that you don't have an appetite for risk and you view financing as a risk. Maybe the buyer with best of intentions plans to get the financing in time for the deal closing.

But something happens in the financing doesn't come through. Well, guess what? You've lost the deal. Yes, there's penalty costs of the buyer will pay. But all of that time and that investment and yes, your costs, that's lost. You're then going to have to go to one of the other buyers. So in this instance, you're going to say to yourself, I don't have an appetite for financing. Let me focus on the other buyers where financing isn't required. Or on the flip side, maybe you're saying to yourself, you know what? I really like this buyer. I like what they bring to the table. I understand that there's risks and financing, but I'm okay with that. I'm going to take that risk, knowing that there's no guarantees. Hopefully, the deal will go through, but there is a risk of the deal won't go through.

A quick story for you while we're talking about this in my liquidity event with Embanet, the buyer decided to go to the bond market, to finance the entire deal. Now the buyer had done this time and time again knew the way around the bond market was very successful in doing this. So the buyer had a track record of success.

Now in looking at this, I discuss this with my business partners Waleuska and Steve. Okay. How do we feel about the buyer using bonds to finance the liquidity event? And when all of a said done we were okay with that. We had a risk tolerance that included outside financing. Now as you all know, the deal ended up closing, but here's what nobody knew.

Two weeks after our deal closed, The Great Recession came onto the scene. And the first market that felt the great recession was the bond market. No, the deal was closed. So there was no point in holding the cards, close to the chest by the buyer. So I reached out to the buyer and I said, hey, given what happened, if our deal was going to close now, would you have done it? Would you even be able to do it?

And without batting an eye, the buyer said to me, Jeffrey, not a chance, the cost of bonds has gone up so much that it wouldn't make sense for us to do the deal. Now there's an old saying, I'd rather be lucky than smart. And truth be told we were lucky.

We had no idea that the great recession was coming. Now this story outlines two important things for you to think about. Number one, the risk appetite. Again, we went in eyes wide open. If the deal didn't happen, if it would happen two weeks later and the cost of bonds went up and the buyer pulled out of it while it would not have been a great day for us, but we also would have walked away saying, okay, you know what we took that risk. We went in eyes wide, open.

But the second thing that a highlights and this is so important, and this actually goes back to step number four, internal audit. When it comes to selling a business speed wins. Speed always favors the seller. Nobody knows what tomorrow brings. The less time that you're in market, the quicker you can close the deal. And the quicker that you close the deal, the more certainty that you have, that the deal is going to get done. And once again, preparation is the gift that keeps on giving. When you're prepared, you can tell the buyer in no uncertain terms, how long it's going to take for due diligence.

So, as an example, going with this let's suppose that you did a data privacy report and you also did a quality of earnings report. Because you did that and yes, you spent some time and you spent some money doing that in advance. But imagine that you didn't do that. And now you're in the liquidity event and the buyer says to you, we want to do a quality of earnings report, and we're also going to do a data privacy report. We're going to need an additional eight weeks in diligence.

And in this instance, it delays the deal. Is something going to happen in the eight weeks? Well, your guess is as good as mine. Nobody knows. So when you do things in advance, when you're prepared, you call the shots. You have the confidence and you have the certainty that comes along with that. You know what you want through your deal points and no-fly zones. You know what you don't want through your deal points and no-fly zones.

And you can with certainty, look at the buyer and say, hey, these are the terms in terms of timelines, that things have to be done. Can you do this? Can you live up to this? And this is before you're signing the letter of intent. This is where you have the most leverage, because as you know, once you sign a letter of intent, you now go into an exclusive period with that buyer. You cannot talk to the other buyers. It's just you and that buyer. And so you're really able to, well in advance call the shots, particularly when it comes to timing. And this is yet another reason why you want to have a competitive process with an auction.

 Buyers know that they have competition. So an auction keeps all buyers on their best behavior. And the thought experiment that I like to give with this is imagine that you want to buy a home. And you're the only buyer on the scene.

Chances are because you're smart because you're good at negotiations when you put your offer in, you're going to have all kinds of conditions and terms are going to favor you. You may even come in with a lower price and also you may want to extend the amount of due diligence, the time that it's going to take, and when the deal closes. And you know, you can do that because you're the only buyer on the scene.

By the way, this is one of the reasons why unsolicited offers are not the way to go. It's also why unsolicited offers are so powerful with buyers and they use it all the time because they know that they have leverage over you. Once they take you down the rabbit hole, otherwise known as a liquidity event, they can do all kinds of tactics to try and tire you out. To stall things to take their time because they know there's no one else on the scene.

Let's go back to our thought experiment. It's the same home, but this time you know that there's 10 other buyers. So here's a question for you. Are you going to come in with the same offer or instead are you going to come in with an offer that maybe you have no conditions? Perhaps you have a higher price and what you would have done otherwise. It's a clean offer because you want to beat out the other buyers. You want to end up buying that house. So you're going to do whatever it takes in how you interact with the homeowner in what your offer looks like to get that done.

So when you know what you want. When, you know what the buyer mindset is when it comes to financing, you can make the best decision with certainty of the type of buyer that you want to deal with. And again, all offers aren't the same. You can take two offers from two different buyers that may have the same enterprise value, but the terms, the conditions, what they put into the letter of intent, what they put into the offer is going to be different. And in step number three, in the 90-day Deep Wealth Experience, one of the things that you're learning is how not to find just any buyer, but how you can find the best buyer.

And the best buyer for you is the one who has the absolute best cultural fit for you, your team, and your business as well as all of these stakeholders. So now we're strategy four out of the way let's bring this one home. Let's go to strategy number five. And the really interesting thing with the whole buyer mindset and understanding it.

Of why you want to know the five absolute best tips and why you must understand the buyer mindset. Each of the strategies that build one on top of the other. Because strategy number five is creating a powerful narrative to help you capture the deal of a lifetime.

So heading into strategy five, you know, the "what" the "why" the "who" and the "how" of the buyer mindset. You now know each of the buyers really well. And when it comes to creating a narrative, as you've heard in other podcasts, your narrative can be up to 80% of your enterprise value. Yes. You heard that right. Your narrative can be up to 80% of the enterprise value.

Now does this mean that you can have this incredible narrative, but you don't have the financial results and you're still gonna get the best enterprise Probably not, you really need both a terrific narrative that's compelling as well as the financial data, the facts and all that other information that support what your narrative says.

 So now when it comes to creating a narrative, your narrative will be different for each of the buyers. So let's assume for just a moment that you're looking at your top five buyers. Your narrative will for each buyer, highlight what you learned about that buyer. Now, part of your narrative will be the same for each of the different buyers, but you're going to tweak it. You're going to customize it because again, really, when you think about it, the strategies are figuring out what is that painful problem. Why is it important for that buyer to solve that problem?

Now, contrast this to most business owners, they just show up to the investment banker. Yes, take me out to market. Nine months later. They're.

Having the deal done. They didn't have the time. They didn't have the know-how, they didn't do the preparation. And they're hoping that just showing up is going to be enough. Will it get the deal done? Well, yes, the deal will get done. Is it going to be the best deal over any deal? And it's a resounding no, when you're not prepared, when you don't have the right narrative, you will not get the best deal.

And for most business owners, let's go through a few stats here. For 90% of business owners, they have the golden handcuffs. What do I mean by that? What are the golden handcuffs? Well, 90% of business owners their wealth is tied into the business. When I was running Embanet I was one of the 90% of business owners where my wealth was tied into the business.

Pun intended your deep Wealth is in the business, but if you don't prepare, you're not going to extract your deep wealth, which has often hidden. And that's one of the powerful things about the 9-step roadmap. Every step of the way has your prepare. While you're preparing you're growing the business, but you're also uncovering that hidden deep wealth so that you can extract all of it.

So you've now created this powerful narrative. You've differentiated it for each particular buyer. You get the buyer excited about the future. It's a bright and prosperous future for the buyer because remember. Buyers know what your business did yesterday. They know what your business did today. What they care about is what your business is going to do tomorrow and going forward.

And for a buyer step number three, once again, Future Buyer and the 9-step roadmap a buyer is doing two things. They're always looking at number one, how can they reduce the risk? And then number two, how can they maximize the return on investment or the profit, because again, your buyer like you is in business to be in business.

And so when you have a narrative that gets a buyer excited, and it has a bright and prosperous future for that buyer, because you know what the problems are. You know how you can solve the problems you've shown and told the buyer exactly how that's going to work. You know, who you're speaking to, you know, who the final decision makers are, so you can talk their language and talk in a way that resonates with them.

That's where the excitement comes. And you've heard me say this before in the Deep Wealth Podcast. I'm going to say it again. All of us make decisions based on emotion first and we justify it with logic later. Even a buyer when they're paying millions, tens of millions, hundreds of millions of dollars. They're making that decision based on emotion first. Now they may not tell you that, but that's what they're doing. That's just how we're wired as people. And yes buyers are people.

And so when your narrative gets the emotions excited, And they see what your business is doing tomorrow and beyond. Deal certainty. That's going to increase. Enterprise value is going to increase. Your narrative is also showing how your business adds strategic value to the buyer. Now it doesn't matter if your buyer is a strategic buyer, whether it's a financial buyer, maybe it's a family office. It doesn't really matter. Whatever type the buyer is you're going to show why and how your business solves that problem.

And on a quick side note here, let me dispel a myth that's often out there with most business owners. Most business owners assume that it's their responsibility to know who the future buyer is going to be.

I like you to get that notion out of your head right now, that is myth. That is not a fact. You're hiring an investment banker and you were going to pay an investment banker a high success fee because it's your investment banker's mandate. This is what they do all day long to cast a wide net and find the buyer for you.

So chances are the buyer will not be your competition. The buyer will not be someone that, you know. It may be a buyer that's not even in your marketplace, but once they enter your marketplace because there's synergies what your business does and what that buyer does. And when you understand the problem, maybe you realize that, Hey this particular buyer. They're in a completely different market, but our clients are maybe some of the same clients that they have, or very similar to what they're doing. There are so many synergies here. This is a way for a buyer to add new life to the business. To grow the business, to grow revenues, to grow profits. That's why they want to buy the business.

So, can you now begin to see why, when you understand the mindset of the buyer, how it completely changes the game? It moves the dial for the success on your liquidity event. And the enterprise value, because again, you want your financial freedom. You don't want to have the golden handcuffs. You want to have the best deal over any deal.

So with the five strategies out of the way, let's do a quick recap on what each of them are and what your takeaways are.

Strategy number one is to understand the buyer mindset by uncovering a painful problem for that buyer. Now chances are when you're looking at potential problems for each of the buyers, you're going to come up with a whole list of problems.

But again, you don't want any problem. You want the most painful problem. The more painful, the problem, the better. Because it's high on the buyers priority to get the problem solved.

Strategy number two, the power of understanding, why a buyer wants to solve the problem. So when you understand the why it completely changes your interactions with the buyer. It changes your narrative. It changes what you're saying. Every interaction with a buyer, you are reminding them why your business is not a nice to have, but a must-have.

Strategy number three, why you must uncloak who the decision makers are for a buyer. And here you learn, you cannot assume that the people at the deal table are the final decision makers.

Maybe it's a board of directors that you may or may not see. Maybe it's the CEO who's not going to go with a team consensus, but it's making an independent. decision. So when you know who the actual buyer is, you can now focus on that buyer and on the art side of a liquidity event, when you learn about that buyer, what moves the dial for that buyer, you can communicate in a way that is refreshing to that buyer and give that buyer comfort and build up that trust.

Strategy number four is understanding the buyer mindset has, you know, how the buyer pays for the deal. And here it's really your risk tolerance for the kind of financing. If financing is going to be involved, or if there's cash in the bank, or if you want stock. You have clarity going into your deal, by the way, you, when you share your deal points and your no-fly zones with your investment banker.

This is step number six of the 9-step roadmap when you're selecting your investment bankers. They know right up front, what you want and what you don't want. And they in turn will let all the prospective buyers know what the deal points and the no-fly zones are so that no buyer shows up with any surprises. You may lose some buyers in the competitive process, but you know what better that you do that now than later? You only want to deal with the buyers who are serious about buying your business. You never would've had to deal with those buyers anyways. And so when you understand the how, and you have your deal points and no-fly zones, it makes it so much more easier for your investment banker to clarify that to the buyers, you have clarity, you know what you're looking for and it helps you choose the best buyer.

And then strategy number five, the funnel strategy once again, everything funnels into creating a powerful narrative to help you capture the deal of a lifetime. And you know that in your narrative, you're talking about what the painful problem is, why it's important for that buyer to solve that problem and how your business adds strategic value for all the buyers.

So there you have it. Those are the five absolute best tips on why you must understand the buyer mindset. So as we wrap this up, let me ask you a question.

Did you find value from this episode? Are you walking away with something new that you didn't know before that's going to make all the difference for your business?

And I'm hoping the answer is yes because if it is, I have two questions for you. Can you help us pay this forward? Why not share the Deep Wealth Podcast with your colleagues and friends, have them become subscribers to the podcast. And speaking of being subscribers, are you getting automatically every one of our episodes showing up in your favorite app?

If, if the answer's no, I encourage you to subscribe. There's a link in the show notes for you it's a point and click it, doesn't get any easier. And this way you're going to be saving time. You're going to be saving effort.

And while you're at it, if you find value, why not help us pay it forward wherever you're listening to us, leave a review. Let other people know about us. Let's spread the word together.

And then last, if you're thinking about a liquidity event and maybe even some of your colleagues, some of your friends are thinking about having some kind of a liquidity event, why not go through the 90-day Deep Wealth Experience?

You learn the 9-step roadmap. These are the exact same strategies that we use for our 9-figure exit. This is what, how to say no to a seven figure offer and the same strategies, how to say yes to a 9-figure offer from a different buyer.

So there you have it. And as we wrap this up, wishing you an absolutely terrific day and as always please stay healthy and safe.

Click here to book your free exploratory strategy session.

Enjoy the interview!