After the Meeting 

Interested buyers will always take the next steps without any prodding. Some buyers make an offer after the first meeting, and some don’t. There’s no magic formula, but it’s not unusual to have as many as three meetings with a serious buyer before they submit a letter of intent. 

Know When It’s Time To Move On 

Is the buyer requesting a fifth or sixth meeting? In such cases, don’t waste your time – move on to the next buyer. Remember, when selling a business, you’re making certain representations regarding your company that aren’t verified until due diligence begins, so five or six meetings shouldn’t be necessary. Save the in-depth investigation of your business for the due diligence period after you’ve accepted an offer from the buyer. 

A few meetings should be enough for the buyer to decide whether they want to make an offer and move forward. If the buyer can’t make up their mind after the fourth or fifth meeting, another meeting is unlikely to do the trick. At some point, the buyer must tackle their fears head on and make the leap of faith. Additional information rarely appeases these buyers’ fears. While this indecision is uncommon among private equity firms and other sophisticated buyers, you may encounter this vacillation among less experienced corporate buyers.