Tired of getting your Letter of Intent (LOI) rejected—or worse, ghosted? In this episode of Napkin Numbers, Scott Lundt and Rahsaan Freeman walk through the key components of a strong Letter of Intent and what it really takes to get sellers to take you seriously. They dive into how to present your qualifications, clearly outline your process, and maintain deal momentum through thoughtful communication and structure.
Why Most Business Deals Fall Apart: The Momentum Mistake
You’ll also hear insights on what sellers are looking for, how to build trust early, and why vague or incomplete LOIs can stall your progress. Whether you’re an aspiring business buyer or advising one, this episode is packed with practical advice to help you stand out, stay engaged, and close with confidence.
Napkin Numbers Talking Points
[0:00] Tips for submitting a successful LOI
- Scott and Rahsaan discuss the importance of including personal financial statements, resumes, and a statement of intent when submitting a letter of intent (LOI).
- These elements show seriousness and qualifications to the seller.
[2:10] Importance of articulating a plan
- The hosts emphasize the significance of outlining a clear process and timeline for the acquisition.
- This includes due diligence, financing, and closing dates.
- A clear plan shows the seller that the buyer is serious and qualified to carry on their legacy.
[3:36] The analogy of deal momentum
- Rahsaan compares deal momentum to a sports team’s drive to score.
- He highlights the importance of keeping the momentum going in a business transaction.
- Without momentum, the deal risks stalling or falling apart.
[4:51] The necessity of active participation
- Scott and Rahsaan stress the importance of being an active participant in the transaction.
- Whether as a buyer or seller, staying involved ensures timely progress.
- Lack of seriousness or involvement can lead to potential problems.
[6:35] Final reminders and conclusion
- The hosts wrap up the conversation with a reminder for both buyers and sellers to stay prepared, enthusiastic, and involved.
- Active participation helps avoid unnecessary delays and frustrations throughout the acquisition process.
The business landscape is shifting rapidly, and opportunities for growth through acquisition are more abundant than ever. Freeman Lundt specializes in helping businesses navigate fluctuating valuations, leverage dropping interest rates, and capitalize on strategic acquisitions. If you’re ready to make your next big move in 2025, don’t wait—contact us today to discover how we can help you seize the moment and grow your business.
Freeman Lundt is here to help you plan your business’s growth, and exit from your business on your terms. The #1 question of CEOs looking to grow or sell their business is always, what is my business worth? Don’t worry, we have a free, confidential, industry-leading tool for that! Please use our complimentary business evaluation calculator to determine your business’s worth.
