The Seller’s Guide to Buyer Interviews: Maximizing Value and Securing the Best Offer

Selling a company is one of the most important decisions a business owner will make, and how you present yourself and your business to potential buyers is critical to securing a great deal. Through years of experience facilitating mergers and acquisitions, I’ve seen firsthand how seller-buyer interactions can make or break a transaction. In this article, I’ll provide essential strategies to help you showcase your business effectively, build trust with buyers, and ultimately maximize your valuation.

1. Set the Stage for Success

First impressions are everything when it comes to buyer presentations. Make sure you’re in a quiet, professional environment with a strong internet connection, free of distractions or interruptions. Having your video on during these calls is critical—not only does it demonstrate professionalism, but it also allows buyers to connect with you on a more personal level. They want to get a sense of your character and commitment to the business.

Buyers are making significant financial investments, often in the millions of dollars, and seeing the person behind the business builds confidence. A well-prepared, face-to-face video meeting shows that you take the process seriously and are ready to engage fully.

Lesson: Let buyers see you and understand the passion behind your company. A professional setting and video presence are key to building trust early on.

2. The Importance of Active Listening (and Managing Ego)

It’s understandable that sellers take great pride in their businesses—after all, you’ve worked hard to build it from the ground up. However, this can sometimes lead to an overprotective or even egoistic approach during buyer conversations. While you want to showcase your achievements, it’s essential to remember that buyers—often sophisticated investors—are looking to make a significant financial commitment to your business.

These buyers are potentially writing checks worth millions of dollars, so it’s important to remain humble, actively listen to their perspectives, and engage thoughtfully. The goal is to strike a balance between showing confidence in your business and respecting the expertise of the buyers.

Lesson: Pride in your business is well-deserved, but be mindful of how you come across. Buyers are sophisticated and serious about their investment—show respect and engage with humility.

3. Transparency is Key, But Be Mindful of How You Frame It

Transparency is crucial during the selling process, but there’s a fine line between being transparent and negatively impacting how buyers perceive your business. While we encourage all our sellers to be 100% open and honest, it's important to avoid sharing information that could unnecessarily harm the perception of the business.

For instance, acknowledging challenges is important, but don’t frame them in a way that makes your business seem overly problematic. Instead, focus on how you've overcome obstacles and the opportunities ahead. Transparency should build trust, not create doubt.

Lesson: Be open, but frame your business's challenges as opportunities. Avoid transparency that paints a negative picture and undermines your credibility.

4. Frame Your Business as an Opportunity, Not a Challenge

While it’s important to be honest, avoid presenting your business as too difficult or unmanageable. Phrases like "this is a tough business" can scare off potential buyers. They’re looking for opportunities to grow and scale, not warnings about how hard it will be to succeed.

Instead, highlight the strengths of your business and the potential for future growth. While challenges exist in every industry, savvy buyers are more interested in how you’ve addressed those challenges and where they can add value.

Lesson: Present your business as a strong investment opportunity by focusing on growth and scalability, rather than emphasizing its challenges.

5. Don’t Equate Motivation with Desperation

Many sellers mistakenly think that showing motivation to sell equates to desperation. This couldn’t be further from the truth. Motivated sellers aren’t desperate—they are passionate about seeing their business thrive under new ownership. This often means preserving the legacy of the company, ensuring its continued success, and providing a pathway for employees to grow.

When you present yourself as motivated, you're signaling to buyers that you're serious about finding the right partner, not just any buyer. This distinction is important and builds credibility in the eyes of serious investors.

Lesson: Motivation does not equal desperation. Show buyers that you’re serious about finding the right person to carry on your business’s legacy.

6. Flexibility in Deal Structures is Key

Sellers often make the mistake of approaching potential buyers with rigid deal structures, such as demanding an all-cash deal from the start. While this may be your preference, it’s important to remain flexible. For example, if a prominent buyer like Mark Cuban or Bill Gates were on the other side, you might be more open to partnering or even retaining some equity, rather than insisting on an all-cash offer.

Flexibility in deal structures encourages buyers to submit offers and keeps the conversation open. Rigid terms early on can be a red flag for buyers, raising concerns about the reasons behind the inflexibility. Being open to different deal structures also allows for creative solutions that might work better for both parties.

Lesson: Show flexibility in initial conversations with buyers. Encourage them to submit offers rather than turning them away with rigid demands. Flexibility signals opportunity, while rigidity may raise doubts.

7. Respect the Time and Effort Behind the Scenes

It’s easy to overlook the amount of work that happens behind the scenes when selling a company. Your M&A advisor and their team spend countless hours marketing your business, finding qualified buyers, and facilitating meetings—all with the goal of getting you the best deal possible.

Not all buyers are the same, and not every deal structure is identical. Your advisor’s experience is invaluable in navigating these nuances. Some buyers may prefer all-cash deals, while others may offer more creative structures, including partnerships or earnouts. The key is to remain open and proactive. Ask your advisor for guidance on how to improve your calls and presentations—after all, their expertise has helped close over $7.5 billion in transactions over the last 35 years at PRIME Exits and American Healthcare Capital.

Lesson: Be proactive in seeking coaching and feedback from your M&A advisor. They’ve closed billions in deals over decades, and their guidance can help refine your approach to maximize outcomes.

8. Managing Meeting Requests with Buyers

As your business garners interest, it’s likely you’ll receive multiple requests for meetings. Decide early whether you’re available for additional meetings over the next 30 days, or if you’d prefer to focus on existing prospects. Clear communication with your M&A advisor is key to managing your schedule efficiently and ensuring that your time is respected.

Lesson: Manage your schedule effectively, and keep your advisor informed to maintain momentum in the process.

Final Thoughts

Selling a business is a complex process, but with the right preparation, communication, and strategy, you can secure the best possible outcome. By being flexible, transparent, and proactive, you’re more likely to attract serious buyers and negotiate a premium sale.

At PRIME Exits and American Healthcare Capital, we’ve successfully closed over $7.5 billion in transactions over the last 35 years, making us the largest and oldest healthcare M&A firm for lower- to middle-market companies. With the right guidance and a clear strategy, you can navigate the complexities of selling your business with confidence, ensuring your legacy lives on for years to come.

Dr. Allen Nazeri, aka "Dr. Allen," boasts over 30 years of global experience as a healthcare entrepreneur. He is the Managing Director at American Healthcare Capital and Managing Partner at PRIME exits. Dr. Allen provides strategic growth consulting to leadership teams of both privately held and publicly listed companies, ensuring their preparedness for successful exits.

He holds a Dental Degree from Creighton University and an MBA in M&A and Investment Banking from the University of Bedfordshire. Dr. Allen is the author of "Value Engineering: Strategies to 10X the Value of Your Clinic and Dominate the Market! " and the brand new book "Selling Your Healthcare Company at a Premium" . Dr. Allen offers a free valuation to business owners ready for a partial or complete exit strategy. Dr. Allen collaborates with strategic buyers, private equity firms, and institutional investors, taking direct accountability for the annual successful sell-side representation of nearly $750M in enterprise value.

To have a confidential discussion about your company and receive a free valuation, please email [email protected] or [email protected]

You can now communicate with Dr. Allen's clone https://www.delphi.ai/drallen

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