What’s “up with all the unqualified buyers in the market?” I’m glad you asked. Buying a business might be the latest evolution of the “be your own boss” trend. Whether it’s semi-stagnant wages or the advent of AI, there’s growing demand for escaping the 9-to-5 grind. And with baby boomers getting ready to retire, there’s plenty of supply. While this all sounds like a match made in heaven, lots of new buyers are underestimating what it takes to be a credible buyer. It’s not enough to find a business with good numbers. Deals don’t close on spreadsheets alone. The truth is, you’re being judged on a personal level to see if you’re ready to own a business. Goran’s Track Record If anyone knows what makes a credible buyer, it’s @redacted‌, the founder of AWG Capital Advisory and author of The AWG Brief. His newsletter is aimed squarely at business buyers, but unlike the noisy advice floating around LinkedIn, his insights come from being in the trenches of commercial lending and deal structuring. Goran spent over a decade in middle-market banking and SBA lending, interviewing more than 200 management teams and structuring hundreds of deals. In 2023, he was ranked #1 in the country for SBA approvals by volume, totaling $177 million. That kind of experience burns patterns into your brain. And he’s learned that good buyers aren’t just made by numbers but by credibility and story. His firm, AWG Capital Advisory, exists to make that preparation systematic. The through-line in all his work is helping people become buyers who can actually close. Creating Financial Credibility AWG firm gets involved even before the letter of intent (LOI) is written. They break down the deal internally, run a credit analysis, and prepare the exact kind of package that a lender will take seriously. In addition to showing that the business works on paper, the firm demonstrates that the buyer has the background, skills, and judgment to run it. Lenders don’t want a good deal in the wrong hands. They want certainty that the borrower can execute. AWG Capital Advisory also provides “ability-to-raise” letters, which give proof that a buyer has qualified financing paths ready. These letters cut through crowded deal processes and get to the heart of the matter. In a market drowning in half-baked offers, that kind of signal matters. Building the Right Narrative Goran’s interviews with buyers are deliberately open-ended. He wants to hear how they’ve managed people before, how they’ve dealt with financial statements, how they explain themselves. Buyers who can’t tell their own story clearly rarely get far. This is also why the flood of would-be acquirers rarely succeed. The market is noisy with unqualified buyers who underestimate the discipline required. They show up more motivated by a fantasy to escape the W2 than to embrace what it takes to be an ETA. According to a study by Canopy, the total SBA loan amount continues to increase, but less than 15% of SMB loans are approved by big banks. To be a serious buyer, you need both strong numbers and a compelling story to prove why you belong in that 15%. The Right Advice at the Right Time Buying the right business is more than a math exercise. While numbers open the door, the buyer’s experience and narrative decide whether the deal actually closes. That’s why firms like AWG Capital Advisory exist: to help buyers structure their deals, frame their credibility, and get funded. And it’s also what we do at QOE Prep matters. Financing may decide if you can buy a business, but a quality of earnings report helps you decide if you should. QOE Prep cuts through weak narratives and lets you know exactly what’s going on behind the scenes. Whether you’re on the buy-side or sell-side, reach out to me, and I can help you get the story straight. Click here to schedule a call.