During your M&A proceedings, keep in mind that how you treat your potential buyers or sellers is of the utmost importance. Remember to follow up in a timely manner with calls and emails, answer questions to the best of your ability, and keep clear communication with your contacts. Here are a few tips you should know about creating effective M&A communication between your potential buyer or seller.
1. Be Direct.
This is often a M&A communication tactic that is overlooked by the seller. When asked from a buyer about revenues, a seller will sometimes dive into a long and very detailed monologue to try and impress the buyer. However, the buyer might become bored and may even wonder if the seller is trying to hide something.
2. It’s Okay To Admit You Don’t Know Something
If you cannot give a full answer to a question or do not know the answer, don’t be afraid to admit that. A buyer or seller wants to know that they are working with someone honest. Saying, “Let me check in to that and get back to you” is a much better answer than trying to explain something that you are unsure of.
3. Be Yourself
This might be self-explanatory, but it is very true when dealing with a potential buyer or seller. Often people are so intent on impressing the other side so they can close the deal. However, that ends up making them seem disingenuous and amateur. The best way to create confidence and trust between a potential buyer or seller is to be honest and open with them.