As a deal guy who has spent years buying businesses and advising on deals, I’ve seen the many ways buyers can get played in their SMB deals. If you don’t stay on your toes, you could get pulled into a deal that isn’t what it seems. Keep your eye on these five situations to make sure you don’t get played in your deal.

When considering purchasing a business, it's important to ensure that you're getting your money's worth. That's where the Quality of Earnings (QoE) report comes in. This comprehensive report is a vital tool to have before making a purchase that could potentially cost you millions.

My client was buying a business using a part-time search. He found a deal that felt right, but the business was represented by an investment bank. That’s not typical for deals with $500,000 in Seller’s Discretionary Earnings (SDE). Usually, a business broker will represent businesses of this size. That raised my eyebrows a bit when we received the initial packet of information.

Picture this. Retired from your 9-5. Living where you want to live. Living how you want to live. Happy spouse. Happy kids. Happy life.

You own a 7-figure business that you love to run. Or maybe that thing runs itself. Either way, you’re settled, comfortable, and have control over your life. You spend your new money on a big house, a fancy car, or travel. It doesn’t really matter because you’re not worried about bills or spending or saying no to your kids. You’re leaving a legacy for your kids.

It’s Saturday afternoon, and the sun is shining. You grab a cold beer and sink down into a chair on your patio. You can actually relax. You think to yourself, “Is this the new American dream?”

It sure is. And SMB acquisition is how you’re going to get there.

My client was looking at a labor recruiting company. The business sourced talent particularly in the particular online marketing vertical. It would then sell this talent primarily to B2B companies who were looking to more effectively market and to get in front of customer leads.