CEO Bros - After Hours · 2026-06-05 · 36 min
*Six Months From Closing (Then the Deal Died Anyway) S2 Ep 68 * The letter of intent starts the clock. The buyer can still walk away. What happens after a buyer says yes? What are you actually signing when the letter of intent lands? And how does a deal die after six months of work? Brad walks through the alphabet soup of selling a business: NDA, teaser, SIM, IOI, letter of intent, and purchase agreement. The dry terms get expensive fast. Give a competitor too much information, and your customer list, employee titles, and compensation details become their playbook. Then Brian gets into the LOI trap. The buyer wants 60 to 90 days of exclusivity. You stop talking to everyone else. They go under the hood, spend money, ask for everything, and start hunting for reasons to lower the offer. Brad lived the nightmare. By Your Side had an LOI, six months of deal fatigue, and a closing date about two weeks away. Then the buyer chased a company two or three times larger, hit pause, came back five months later, lost its CEO, and the deal was dead. This is episode 68. Time kills all deals.
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