{"id":544385,"date":"2020-08-07T20:24:37","date_gmt":"2020-08-08T00:24:37","guid":{"rendered":"https:\/\/mabusinessadvisors.com\/reno\/blog\/2020\/08\/07\/essential-meeting-tips-for-buyers-sellers-of-businesses\/"},"modified":"2020-08-07T20:24:37","modified_gmt":"2020-08-08T00:24:37","slug":"essential-meeting-tips-for-buyers-sellers-of-businesses","status":"publish","type":"post","link":"https:\/\/mabusinessadvisors.com\/reno\/blog\/2020\/08\/07\/essential-meeting-tips-for-buyers-sellers-of-businesses\/","title":{"rendered":"Essential Meeting Tips for Buyers & Sellers of Businesses"},"content":{"rendered":"
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The buyer-seller meeting is quite often a “make or break” meeting.  Your Business Broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible.<\/p>\n

It is vitally important to realize that rarely is there an offer before buyers and sellers actually meet.  The all-important offer usually comes directly after this all-important meeting.  As a result, you want to ensure that meetings are as positive and productive as possible.<\/p>\n

Buyers need to understand how the process of selling a business works and what is expected of them from the process. Buyers should also take the time to clearly express their background and financial capabilities to the seller since this is highly important to the seller. A lot of buyers dive into questions on the business without discussing their qualifications first. As sellers get more comfortable with buyers and a rapport is built, they will be more willing to share information and provide better terms. Buyers also need to understand that following their broker’s advice will increase the chances of a successful outcome.<\/p>\n

Sellers should be ready to be honest and forthcoming during the meeting.  They also want to be sure to not say or do anything that could come across as a strong-armed sales tactic. Buyers are extremely cautious, especially in this environment. As sellers are vetting buyers, the buyer is vetting the seller and information on the business to make sure the business is a safe investment and has “transferable value”. Buyers will not consider or move forward with purchasing a business unless they feel comfortable that the business, revenue and more importantly cash flow will continue into the future.<\/p>\n

Asking the Right Questions<\/strong><\/p>\n

If you are a buyer preparing to meet a business owner for the first time, you’ll want to make sure any questions you ask are appropriate and logical.  It is important for buyers to place themselves in the shoes of the other party. Buyers also shouldn’t show up to the buyer-seller meeting without having done their homework.  So be sure to do a little planning ahead so that you are ready to go with good questions that show you understand the business.<\/p>\n

Building a Positive Relationship<\/strong><\/p>\n

Buyers should, of course, plan to be polite and respectful.  They should also be prepared to avoid discussing politics and religion, which often can be flashpoints for confrontation.  When sellers don’t like prospective buyers, then the odds are good that they will also not place trust in them. For most sellers, their business is a legacy.  It quite often represents years, or even decades, of hard work.  Needless to say, sellers value their businesses.  Many will feel as though it reflects them personally, at least in some fashion.  Buyers should keep these facts in mind when dealing with sellers.  A failure to follow these guidelines could lead to ill will between buyers and sellers and negatively impact the chances of success.<\/p>\n

Sellers Should Be Truthful<\/strong><\/p>\n

Sellers also have a significant role in the process.  While it is true that sellers are trying to sell their business, they don’t want to come across as a salesperson.  Instead, sellers should try to be as real and honest as possible.<\/p>\n

Every business has some level of competition.  With this in mind, sellers should not pretend that there is zero competition.  A savvy buyer will be more than a little skeptical.<\/p>\n

The key to a successful outcome is for Business Brokers and M&A Advisors to work with their buyers and sellers well in advance and make sure that they understand what is expected and how best to approach the buyer-seller meeting.  With the right preparation, the odds of success will greatly increase.<\/p>\n

 <\/p>\n

Copyright: Business Brokerage Press, Inc.<\/a><\/p>\n

 <\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The buyer-seller meeting is quite often a “make or break” meeting.  Your Business Broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible. It is vitally important to realize that rarely is there an offer before buyers and sellers actually meet.  The all-important offer usually comes directly […]<\/p>\n","protected":false},"author":3,"featured_media":544386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[99,100,5,75,9,96],"tags":[],"class_list":["post-544385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-appraise-my-business","category-business-valuation","category-buyer-articles","category-buying-a-business","category-seller-articles","category-selling-a-business","entry"],"acf":[],"yoast_head":"\nEssential Meeting Tips for Buyers & Sellers of Businesses - Reno \/ Sparks - M&A Business Advisors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mabusinessadvisors.com\/reno\/blog\/2020\/08\/07\/essential-meeting-tips-for-buyers-sellers-of-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Essential Meeting Tips for Buyers & Sellers of Businesses - Reno \/ Sparks - M&A Business Advisors\" \/>\n<meta property=\"og:description\" content=\"The buyer-seller meeting is quite often a “make or break” meeting.  Your Business Broker or M&A Advisor will do everything possible to ensure that this meeting goes as well as possible. 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