Why sellers reject requests and what to do about it
Sellers can reject your startup access requests for various reasons, including:
- You haven't verified your identity or funds.
- Your verified funds amount is lower than their asking price.
- Your profile is incomplete or missing information.
- Your profile suggests you wouldn't be a good fit.
- They're already in serious talks with another buyer.
- They've changed their mind about selling.
Some of these reasons can be avoided while others you might have to live with, depending on the underlying reason for the rejection.
You might even find you were given access only to have it removed because the seller didn't like how conversations were going or they accepted an offer elsewhere.
Rejections are part of the acquisition process, unfortunately, but you can improve your chances of approval with the following tips.
How to convince sellers to give you access
- Ensure you've verified your ID and funds. Keep the verified amount up-to-date so sellers know you're capable of closing at or near their asking price.
- Complete your profile and add your LinkedIn. Be honest about your acquisition criteria and why any business you acquire would be in good hands.
- Add a message to your access request. Be warm, polite, and encourage conversation with a friendly message that introduces yourself and your goals.
- Sign a mutual NDA. Some sellers might ask for NDAs before approving your request – sign them to show your commitment to protecting the data you share between you.
- Be patient and understanding. If a seller doesn't respond to your request immediately, give it a day or two before chasing them via chat. They're running a business too.
Learn how to build rapport and trust with sellers in our buyer etiquette guide.
Still need help?
Please search the help center again or contact us at support@acquire.com.