1. Who are you in this conversation?
Ask whether you are speaking with a prospective acquirer, an intermediary, an adviser, or someone collecting opportunities for another party. Find out who makes the decisions and which organization would be involved. Old Growth is Deep Forest AI’s acquisitions division and is seeking businesses to acquire; we are not presenting these resources as independent seller representation.
2. Why does this business fit your interests?
Ask what they understand about your products, customers, service work, and region. A specific answer gives you something to discuss. You do not have to provide detailed customer records to ask how they think about specialty distribution.
3. Who would operate the business?
Ask who would be responsible for day-to-day decisions and what role they would expect you to play. Explore the questions that matter to you about your team, customer relationships, and location. Distinguish a stated intention from a term that has actually been agreed.
4. How would an acquisition be funded?
Ask what resources are available, what remains conditional, and what evidence they can provide at the appropriate stage. A statement of interest alone does not answer those questions. Have your advisers help evaluate the information you receive.
5. What information do you need next, and why?
Ask for a specific request and its purpose. An initial conversation, an indicative proposal, and detailed diligence can involve different information. Work with your advisers on the sequence instead of treating every request as equally urgent.
6. Who would see the information?
Discuss the proposed recipients, how records would be handled, and the confidentiality terms your attorney recommends. Do not assume a website form, introductory call, or standard email establishes the protection you want.
7. What would happen after this conversation?
Ask for the next step, its dependencies, who is responsible, and what either side can decide at that point. Keep a written record of open questions. A clear next step is more useful than a closing date that neither party can yet support.
ONE USEFUL NEXT STEP
Choose the three questions that matter most to you. Write down what a satisfactory answer would need to explain.
Further reading: SBA guidance on closing or selling a business.
Old Growth is a prospective acquirer focused on the Southeast U.S. These general preparation prompts do not provide independent seller representation, a valuation, or personalized legal, tax, or financial advice.
