off as an expert, just that you have a plan, some basic understanding of the process (as in the previous section) and have made a business decision to do acquisitions. A very easy shortcut is to say that you realise you are not an expert but work closely with an M&A Advisor who will work with both of you to manage the process. 4. Understand the sharp edge of Legacy - A Seller will say lots of things relating to getting the most money for the business as if that is all that matters. The reality is they are just going into a comfortable mode of selling a house or a car. However, when it comes to it, they are most deeply concerned about their legacy which is a combination of what happens to the people after the sale, the customers and the fact that this thing that they identify with is going to get bigger and better. Legacy matters to (almost) all of them. Therefore, it is important to give the impression that one of your overriding values is to honour their legacy and especially take care of their people who will be in an even better place potentially working with you. This may sound odd but most people selling feel there is more that could be done for their business and their people. When they meet a Buyer that gives them the impression can and will ‘pick the ball up’ they will be motivated to work hard on the relationship and transaction. 5. Listen to their ideas about how the business could grow - This follows on directly from the last point. They want their business to grow and be better, even if they don't own it because it is an extension of who they are. It is important to be excited about this and share your own ideas. The more you can get them into a mode of what post-sale will look like for the business, the more committed they will become to you. A very natural follow on is then to ask them what their plans are after the sale personally and become very interested in that. What
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