Founder MindsetEmerging Pattern
Sell to third-highest bidder who closes fastest, not highest bid that stalls
Highest bids take longest to close and fall through most. Third-highest bidders, when told they're competing with two higher bids but can win by closing in 3-4 days, feel lucky and wire money immediately. Speed beats absolute price - longer timelines increase fall-through probability.
When to use
When selling asset-light businesses like apps or SaaS with multiple interested buyers
Don't do this
Chasing highest bid through months of diligence while momentum dies and deals fall apart
1 Founder Who Did This
1
Multiple app exitsby Lots
Tells 3rd highest bidder they have 2 higher offers but will choose them if closing in 3-4 days - 'they wire everything now'
Result:Successfully exited 4 apps in 6-12 month cycles without lengthy failed negotiations
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