When it comes to selling your company, it’s so important to remember: selling a company is not at all like a typical sales interaction.
Many of us have been trained to overcome objections and convince customers to buy, but M&A is a different beast. Selling a company requires an entirely different mindset.
In the traditional sales cycle, you engage with a customer and try to persuade them to make a purchase. But when taking your company to market, the dynamics change—while technically you are selling your company, there’s one fundamental difference:
If you find yourself having to convince a buyer that buying your company is a good idea, it’s likely that they aren’t the right buyer for you.
Unlike traditional sales, where objections can be overcome, a buyer’s objections in an M&A context often act as an early indicator.
If a buyer raises multiple objections and you’re constantly trying to convince them why your company is a good fit, the road ahead inevitably becomes narrower, and stickier, and put simply…not fun.
The buyer’s lack of excitement will only become more and more apparent as the process unfolds, and (I’ve seen this time and time again) this ultimately leads to deals falling apart.
If you feel the need to defend yourself, overcome objections, or explain why your company is a good buy, it’s a good sign that you need to move on to the next buyer who is genuinely enthusiastic about acquiring your business.
Remember, selling a company is not like traditional sales.