We recently discussed that the single biggest mistake made in selling your tech company is only talking to one buyer, or only those buyers that approach you. Ive lost track of the number of times I hear software, IT, internet and related tech CEOs say theyll just wait for someone to contact them without realizing that you never get optimal pricing or structure that way. The most basic reason is leverage. At some point in every negotiation, whether it is the informal talks leading to an offer, or the formal due diligence, you will have to dig your heals in on price, structure, liability, whatever. It is ALWAYS the case, and without having other firms in the bidding, you have no leverage, and continue to just lose ground as you approach the closing.