The Sales Process: Understanding Buyer Motivations And Reinforcing Your Organization’s Value Beyond The Financials

Navigating the sales process after signing a Letter of Intent (LOI) is one of the most critical phases for CEOs and sellers. It’s a time when buyer motivations deepen beyond just numbers, and maintaining momentum becomes paramount. Drawing from lessons learned while scaling and selling a telemedicine company to Walmart, this article outlines common mistakes CEOs make post-LOI and the key practices sellers must follow to keep deals moving forward successfully.

Common Mistakes CEOs and Sellers Make Post-LOI

• Allowing Deal Fatigue to Set In – Post-LOI, it’s easy to become complacent or distracted, either because we assume the deal is “in the bag,” or because the process has continual ups and downs and delays that seem never-ending.  And as we all know when we are fatigued, we aren’t at our best and in turn can negatively impact the sales process as well as how well our business performs during this period.
• Failing to Fully Understand Buyer Motivations Beyond Financials – Many sellers focus too narrowly on price and financials, overlooking what drives the buyer’s decision emotionally and strategically. Buyers often seek value in team stability, market position, technology, customer mix or cultural fit. Ignoring these factors can jeopardize the sale.  Additionally, buyers may be looking at your organization to solve a very specific problem – you need to learn what that is.
• Mismanaging Key Personnel and Customers – Buyers want assurances that critical team members and clients will stay post-sale. CEOs sometimes fail to lock down key personnel with agreements or do not adequately mitigate customer concentration risk, introducing deal uncertainty.
• Neglecting to Communicate Regularly and Transparently – Sparse or overly cautious updates create anxiety and give buyers room to speculate about hidden risks. Sellers who fail to provide timely progress updates or highlight positive developments reduce trust and stall negotiations.
• Overlooking the Importance of Non-Financial Value Drivers -
Focusing solely on EBITDA or multiples ignores intangible yet crucial value components such as intellectual property, brand equity, operational systems, or growth potential. Underemphasizing these can lead to undervaluation or deal delays.

Top Practices to Keep the Deal Moving Forward

• Maintain Consistent Business Performance and Growth – Continue running the company as if no sale is happening. This is difficult to do when going through a sales process that consumes an insane amount of time each week, but it is critical to do so. Keep sales pipelines robust, operations stable, and deliver on growth initiatives. Demonstrating ongoing momentum reassures buyers that the business’s prospects are intact.
• Regularly Update the Buyer with Transparent Communications -
Provide frequent and honest bulletins on operational progress, market developments, and any challenges encountered. Transparent communication builds trust, controls the narrative, and sustains buyer interest.  Be proactive!
• Deeply Understand and Address Buyer Motivations – Engage buyers to uncover their underlying needs—whether strategic market entry, technology acquisition, or talent retention—and tailor communications and diligence responses to reinforce how your company meets those motivations beyond just financials.
• Secure Key Personnel and Customer Relationships – Implement non-compete or retention agreements with crucial staff and develop mitigation plans for customer concentration risks. A well-prepared management team and diverse customer base provide comfort to buyers regarding future operational stability.
• Highlight Intangible Value Drivers Alongside Financial Performance – Proactively showcase your company’s unique assets such as innovative technology, strong culture, brand reputation, regulatory licenses, or established partnerships. Demonstrating these “beyond the numbers” strengths can elevate perceived value and help justify deal terms.

Final Thoughts

The post-LOI phase is where attention to detail, strategic communication, and emotional intelligence can make or break a deal. CEOs must balance continuing strong business execution with deep buyer engagement to reinforce why their company is the right strategic fit beyond just financial metrics. By avoiding common pitfalls and applying these best practices, sellers can keep negotiations on track, build mutual confidence, and maximize deal value.

Executing with discipline during this stage helped us not only secure Walmart as a buyer but also retain crucial personnel and preserve the strategic value of our telemedicine business—lessons every CEO should take to heart during the most pivotal moments of the sales journey.

For more articles on how to scale your business and sell for a high multiple, or to inquire about business coaching, visit Bill Goodwin’s profile page or Growth Optimized