So I'm selling my business myself, no broker. Buyer wants to meet in person next week to talk terms. I've done fine over email but face to face is a different animal. What actually works when you're sitting across the table? I keep picturing myself caving on price just to avoid an awkward silence.
Negotiation
How to negotiate face-to-face when you sell yourself
Silence is your friend. First one to talk after a number lands usually loses. Practice starong at the wall for ten seconds without blinking, it's weirdly effective.
Who's driving the meeting? If the buyer picked the venue and set the agenda, you're already playing their game. Suggest a neutral spot, bring your own one-page summary, and decide in advance what your walk-away number is. Write it on a card in your pocket if you have to.
honestly the awkward silence thing is overrated. i've closed two deals and the trick was just being a normal human. ask about their kids, laugh at their dumb joke, then when it gets to money don't flinch. worked fine.
Sure, being normal helps, but 'don't flinch' is easier said than done when you're the one who's nervous. The card thing GasketQueen mentioned is solid. Also bring someone with you if you can, even just an accountant type who says nothing. Changes the room.
Big one nobody mentions: don't negotiate everything in one sitting. Face to face is for the big picture and building trust. Price, earnout, transition period, all of that shouldn't get hammered out over one pot of coffee. Say 'let me think on that' and mean it, then put the details in writing after. Buyers respect someone who doesn't collapse on the spot.
VellumVulture is right about splitting it up. Also watch for the 'we'll take care of you after closing' line. That's not a term, that's a hope. If it's not on paper it doesn't exist.
What's the business? Because negotiating a bakery sale and negotiating a software company sale are not the same conversation. Context matters more than any tactic here.
Small manufacturing shop,been running it nineteen years. NocturnalMarmot, fair point, and honestly that's part of why I'm nervous. Buyer's been in the same industry but younger, talks fast. I think I'll bring my son who handles the books. VellumVulture's split-it-up idea takes a lot of pressure off, hadn't thought of it that way
nineteen years and you're worried about a young guy who talks fast? you built the thing. he's buying a machine that already works. remember that and you'll be fine.