21 Nov Selling Your Business: The Courtship, Questions, and Everything In Between
Selling a business is rarely a straight line. It feels more like a courtship, complete with first impressions, long conversations, bouts of nerves, and the occasional family drama. In New Mexico, where people value sincerity over polish, this process works best when both sides show up as themselves. No one expects a TED Talk. Buyers simply want to understand your business and the person behind it.
Below is what this journey often looks like and why each phase feels the way it does.
Your First Date: The Initial Buyer Meeting
The first meeting, whether on Zoom or across a conference table in Albuquerque or Santa Fe, can be nerve wracking for both sides. The stakes feel high. You want them to appreciate the business you built. They want to make sure you are someone they can work with during the months ahead.
This meeting is not about perfection. You do not need to present yourself as a corporate executive or pretend the business never struggles. What matters is honesty, preparation, and a willingness to answer open ended questions. Share the wins, but also the challenges you have worked through. Buyers trust what feels real, and New Mexicans have a finely tuned radar for authenticity.
Sometimes the chemistry is strong. Sometimes it is polite but not quite a match. More often than not, it has nothing to do with personalities. Maybe the buyer hoped for room to scale in a way your market cannot support. Maybe they feel intimidated by the skills you have honed over decades. A buyer can like you and respect your work but still realize the fit is not quite right. That is normal.
The Getting to Know You Phase
If the meeting goes well, you enter into a Letter of Intent. This is the honeymoon period. Spirits are high and everyone is optimistic. Soon after, reality arrives. The buyer is now gathering every piece of information they can. They ask why margins dipped two years ago. They want to know why two employees left. They ask about vendors you chose not to pursue.
From your side, these questions can feel nitpicky or even accusatory. From their side, they are stepping into one of the biggest financial moves of their lives. They began with a surface level understanding of your business and now they are trying to see how it really works. This is when the weight of the decision hits them. They begin to worry that they have missed something or that a hidden risk is buried in a spreadsheet they have not yet interpreted.
Patience helps. Even a question that feels irrelevant is a chance to explain how the business functions day to day. It is also a chance to remind yourself that their anxiety is about the size of the step they are taking, not about your competence or honesty.
Meeting the In Laws: The Attorneys
Up to this point, you have mostly been guided by Sam Goldenberg and Associates. We smooth edges, keep both sides talking, and find solutions that move the deal forward. Then the attorneys arrive.
Attorneys are not committed to the deal itself. They are committed to protecting their client. Their job is to look for risk, to question assumptions, and to slow things down long enough to be sure nothing has been overlooked. When you remember that this is their role, it is easier not to take their tone or their edits personally.
A buyer may feel rattled by their attorney’s concerns. A seller may feel worn out by revisions. That is all part of this phase. The important thing is to stay focused on the shared goal rather than the small battles along the way.
Newlyweds: Training and Transition
Once you close, there is a sudden shift. After months of formal back and forth, now you are side by side in the same office or shop, walking through systems, introducing employees, and trying to hand over years of tacit knowledge in a matter of weeks.
This stretch can be tender and chaotic at the same time. Buyers want to prove they can do the job and often try to absorb everything at once. Sellers try to be patient while watching someone approach familiar tasks with a different rhythm or style. Both sides are tired. Both sides want to make a good impression. Both sides worry that they are either asking too many questions or not asking enough.
The truth is that this stage always feels a little overwhelming. That does not mean anything is wrong. You are both finding your footing in a new relationship and that takes a little time.
A Final Thought
Selling a business is emotional, even for owners who pride themselves on being level headed. It involves trust, vulnerability, and a lot of learning on both sides. If you keep your focus on honesty, patience, and good communication, the entire experience becomes far more manageable.
And remember, you do not have to navigate any of this alone. That is what we are here for.
Further Reading
Ready to Sell? How to Showcase Your Business’s Strengths
3 Meeting Tips for Buyers and Sellers in Business Transactions
Post-Closing Steps for a Successful Transition
