You’ve made it this far… your business is prepped, polished, and you’ve attracted interest from one or more buyers. Now comes the next critical step: the first meeting.

This is your business’s first impression. And just like a first date, you don’t want to overshare, undersell, or come across desperate. 

But most buyers will come to this meeting wanting to like you. They’re hoping you’re the right fit. They want a reason to move forward. So let’s make sure you give them one.

The first meeting is usually a 30-60 minute video call or in-person sit-down, often informal. Think of it as a mutual interview: they’re getting to know you, and you’re evaluating them, too. You’ll likely meet with a managing partner (if it’s a private equity firm) or the CEO/founder (if it’s a strategic or individual buyer). They’ll want to hear your story, your vision, and your personality.  

They may see this as a transaction for buying your business, but they’re also potentially partnering with you. Make sure they hear what they need to.

What to Share:

✅ Your origin story. Why did you start the business? What was the big problem you set out to solve? This builds emotional connection and trust.

✅ High-level financials. Talk about revenue trends, EBITDA, customer retention, and key drivers of growth, but don’t hand over the books just yet. Speak their language and talk about what they care most about.

✅ Your vision for the future. Buyers love to hear that you’re still thinking long-term. Even if you want out, show you have a clear roadmap for the company.

✅ Your team. If you’ve got a strong team that can run the business without you, that’s a huge selling point.

✅ Your reason for selling. Be honest, but make sure it’s framed in a value-positive way. (For instance: “I want to take this company to the next level, and I know a partner could help,” is better than, “I’m burnt out and want out now.”)

Don’t Share (Yet):

🚫 Exact customer lists. Keep your proprietary data close until an NDA is signed and due diligence begins. This is an absolute must.

🚫 Your rock-bottom price. Never name your minimum upfront. It kills your leverage. (But by now you should have this written down on paper somewhere, so you know…)

🚫 Weaknesses without solutions. Transparency is good, but don’t air every problem unless you’ve got a plan to fix it. Otherwise, it becomes a liability.

🚫 Uncertainty. If you're still unsure about selling, wait to take meetings. Buyers need confidence and clarity. This is like dating while you’re still married and thinking of getting a divorce.

Questions You Should Expect From Their Side 

Buyers will almost always ask you some of the following questions:

• “Why are you selling?”

• “What role do you see yourself playing after the sale?”

• “How dependent is the business on you?”

• “What are the biggest risks to the business today?”

• “How do you acquire new customers?”

• “How repeatable and predictable is your revenue?” 

These aren’t trick questions. They need to know the answers because it will affect their decisions. Be honest, but thoughtful. You’re trying to build trust and momentum.

I like to look at these questions long beforehand and make sure you have a rock-solid answer to each before you’re even in a position to answer them.

How to Present Yourself

This might sound silly, but even if you’re in tech, you shouldn’t wear a t-shirt and sweatpants to a first meeting.

Dress sharply but appropriately. Match their formality. If it’s a private equity firm, buttoned up. If it’s an individual buyer, business casual is fine.

Be energetic and optimistic. Passion is contagious. Show that you care about what you’ve built.

Keep it tight. Practice your story ahead of time. Keep it to 3-5 minutes, max.

Be ready with one killer stat or story. Something memorable that leaves a positive lasting impression. (For example, “We’ve never had a client leave in 7 years,” or, “Our net promoter score is 92.”) 

The Dealbreakers

If you’ve already paid attention to all of the above, don’t lead with, “I just want to cash out and disappear.”

Even if that’s true, you can frame it better. Buyers want continuity, even if you’re not going to be around. They want to know the business won’t collapse when you walk out the door.

The first meeting sets the tone for everything that follows, but don’t let it stress you out. Your job isn’t to sell the business in one call or one meeting; it’s to keep the conversation going and give them a reason to lean in rather than run away. 

Curious about how to position your business to the right buyer?

👉Book a call with an M&A advisor

In the next post, we’ll look at how to evaluate and negotiate offers when they start coming in.