Pride of ownership can make it an almost impossible task for a business owner to value their business. Having devoted many years as well as blood, sweat and tears into the business, a business owner may struggle to take an objective view on the value of their business.
The bottom line is, your business is only worth what a buyer is willing to pay, but a single offer alone does not demonstrate the true value of a business. A one horse race is a sure shortfall and guarantee not to get the best deal for your business; the more comprehensive the marketing, the more potential buyers you will find.
By engaging more than one buyer you create competitive tension which leads to multiple offers and the power of comparison. This comparison allows a business owner to understand the true value potential of their business and as a result secure the best deal possible.