Last week an entrepreneur mentioned that he was approached by a large company that was potentially interested in acquiring his startup. Not knowing what to do, he agreed to a call and asked a number of questions. Then, he got the big question: how much do you want for your business?
The best response to an inbound acquisition price inquiry is as follows:
We’re not for sale but what are you offering?
The idea is to set the tone that the business is doing well and going to keep growing independently. With that established, only then is the door slightly opened to see what the potential acquirer is thinking.
The next time a potential acquirer comes around asking questions, make it clear the business isn’t for sale but that you’re open to listening.
What else? What are some more thoughts on the best response to an inbound acquisition price inquiry?