"Let’s start with the initial moments in the interview process. The most important thing is to establish a connection with a would-be Buying entity. The initial moments should be spent with a brief Bio about the Buyer and his team. Listen carefully to what is being said. Find things in common. Draw lines from his comments to potential synergies with your company. More than anything, it is important to establish a feeling of comfort and trust between the parties. Show them ways they will gracefully transition into your company. Explain how your company began and detail the reasons you are successful and what you have done to set yourself apart from others.
Describe a “day in the life” of yourself and your key stakeholders. Let them know that you have a great, challenging and intellectual position. Don’t be afraid to detail your time away as well. Everyone wants to know the company can afford to survive if you leave for a week or two.
Who are your competitors, why are you able to successfully compete in this sector, and how will you continue to compete and thrive? What are things that you can do to increase sales and expand your sales channels? Be very careful of this subject because you if you sound extra enthusiastic then the first thing an intelligent buying team will wonder is why you aren’t doing these things yourself. Mention these things as potential add-ons not as an answer to life’s mysteries or a magical elixir. Elaborate carefully on the topic of your infrastructure. Detail the fact that your job description and your senior leadership focus on oversight, management and growth, but that you and your team are fully ready and willing to jump into action if the need arises.
Why are you selling? Don’t be afraid to be very forthright. Any number of reasons for selling are acceptable right up to just being burned out. Exiting from a growth company is totally normal, but it’s best to have the answer ready for when the question arises.
All bring up and discuss the issue of the transition and your thought process on how it will work. Picture yourself in the shoes of the buying team and demonstrate a path from beginning to end in regards to the actual transition process. Help them to visual it and feel that, though challenging, there will be an ease to the process and that every step of the way, you and your senior team will be there to help. Specifically deal with the issue of vendors and suppliers and how the accounts will migrate seamlessly to their new company. If there are any vendors that may not go seamlessly, be very clear about this up front, and discuss the potential downside of that particular vendor. It’s always best to tackle issues up front so that buying entities know that you are working hard to be transparent and will be so during the entire process. If they think you are hiding something, then they’re going to assume you’re hiding more. A smart Buyer will find out everything in Due Diligence, so don’t feel the need to sweep th