By: Chris Way
A potential buyer reaches out. They’re excited about your business, and before anything is signed, they ask to see your customer list. Seems harmless, right?
Think again! Your customer list is one of your most valuable assets, a ready-made list of willing buyers. Hand it over before a nondisclosure agreement (NDA), a signed letter of intent (LOI), or any money changes hands, and nothing stops that “buyer” from walking away and calling every client you have. Sometimes the person asking isn’t a buyer at all, but a competitor getting free market research.
In this short, we show how it feels to sell your list to a potential buyer before doing due diligence the correct way: in stages, behind the right agreements, with your most sensitive information saved for last.