The successful sale of a business often comes down to storytelling. The buyer and seller are the main characters of the story that is being told. The seller is the one relaying the story, and the ideal buyer is the one who truly sees the future opportunity.
A Merger and Acquisition Advisor Can Help Tell Your Story
Sellers often don’t know what the true story of their business is. They tend to lack the proper perspective because of their deep involvement. Sellers may be burned out or have never really thought through the story of their business in the first place.
M&A advisors serve a great function as a third party who can look at the story from a different perspective. These professionals are numbers people, but it goes beyond that, as they can clearly see your business as a story to be told. And they can help you control that storyline for optimal results.
Embracing the Human Element
In order to tell the story of the business and why a buyer should want to buy it, it is necessary for your M&A advisor to understand your business. This is why good communication is important. After the interview process, these professionals must precisely arrange all the relevant information in such a way that the buyer can digest it and see the potential within the business. Through that means, a prospective buyer can understand that value and envision themselves as the hero.
Is your business exit ready?
If you’re planning to exit your company in the near future, you may find EastWind’s Exit Strategy Playbook helpful in developing your own exit strategy, making your company more sellable.
It Goes Beyond the Financials
M&A advisors also help sellers determine the price and work as advisors on pricing. The story of the business starts with the financials and the facts, but this is only the beginning of the process. M&A advisors will want to interview you to learn how to weave together your story.
In the end, every story has distinct meaning. It is important to pull all of the elements together to make an engaging story that will ultimately inspire and motivate a buyer to buy the business.
Storytelling Leads to Successful Deals
When buyers open their minds to the story being told, they are able to envision the future potential of the business and why it is going to be a valuable opportunity. Selling a business isn’t strictly about numbers, figures, facts, profit and loss margins, and other financial variables. Instead, it is also about the people.