# Buyer Checklist

Use this as the fast filter before you let a listing turn into a live diligence file.

## 1. Thesis Fit

- Does the business fit the revenue band and product shape you actually want?
- Is the customer and workflow close enough to your operating competence?
- Are you buying a business or volunteering for the wrong kind of work?

## 2. Revenue Quality

- Is the revenue clearly recurring and retained?
- How concentrated is the business?
- Can you explain churn, downgrades, and refunds without hand-waving?

## 3. Founder Dependency

- What still depends on the seller's weekly judgment?
- Which workflows only live in the founder's head?
- How much undocumented support or product intuition would you inherit?

## 4. Transfer

- Is there a legible ownership-transfer plan for systems and accounts?
- Is the seller support window defined?
- Would the handoff still look manageable if the seller became less available than promised?

## 5. Decision

- What would make you walk away?
- What would only justify a price adjustment?
- Can you still explain the deal in one page before the offer becomes emotional?