Ep. 41 The Fishing Trip

When John Bowen received a $37
million offer to buy his business, he thought it was too good to be
true.

As it turns out, it was.

Bowen had received a non-binding
letter of intent from a global bank, who made their bid with no
actual intent to buy his business. Bowen came to believe their
offer was a decoy designed to disguise their real objective: to
understand Bowen’s strategy so they could compete better with him.
Bowen got wise to their strategy and ended up selling his business
to another buyer, Assante Wealth Management, for $25
million.

Bowen reveals his three strategies
for evaluating the authenticity of an offer to buy your business
during our interview.