1. What Business Sellers Think They’re Selling vs What Buyers Actually Buy

business brokers manage the sales process methodically and professionally

helping brokers reframe the sale early and avoid deal fatigue later

Most sellers are proud of what they’ve built and rightfully so.

They’ve poured years into their business. Built a reputation. Maintained strong customer relationships. So when they’re ready to sell, they often believe they’re offering something deeply valuable.

But here’s the catch - what sellers think they’re selling and what buyers are actually buying, are often two very different things nd when that misunderstanding goes unchecked, it leads to overpricing, poor preparation and deals falling apart at the finish line.

🎯 What Buyers Are Actually Looking For

Buyers aren’t paying for past effort or founder passion.
They’re paying for what the business can deliver after the owner is gone.

Here’s what really drives value for them -

• Predictable earnings
  Buyers value consistency more than upside. They want confidence in future cash flow.

• Operational independence
  Can someone else step in without disruption? If not, that’s a risk premium.

• Owner dependency
  If the business only works because of the seller’s relationships, knowledge, or charisma - it’s a liability.

• Customer/supplier concentration
  Reliance on a few key players creates fragility.

• Scalability
  Buyers look for systems and structures that support growth without heavy reinvention.

💬 A Quick Story from the Field

A business broker I worked with had a seller convinced his client base of 20+ years was “the crown jewel.”

The buyer saw it differently. “These clients are loyal to him, not the business,” the buyer said.
What looked like an asset became a handbrake. The deal still closed, but only after the seller agreed to an 18-month earn-out and a reduced price.

The lesson? What’s valuable to a seller emotionally might be a risk to a buyer economically.

🛠 Reframing Tips for Brokers

Here are a few simple ways to help your clients shift perspective -

• “Buyers pay for the future, not the past.”

• “The less the business depends on you, the more valuable it becomes.”

• “What happens if you take a 3-month holiday?”

• “We’re not just selling what you do - we’re selling what someone else can run.”

 📌 Broker Questions to Use in Client Meetings

You can use these questions early in the process to uncover risk and shift the seller’s thinking -

• What part of your business couldn’t run without you?

• Have you documented your key processes — or are they mostly in your head?

• If a buyer asked to shadow your team for a week, what would they notice?

 These aren’t meant to challenge or diminish - they’re meant to prepare.

🤝 Final Word - This Isn’t About Undervaluing the Seller

Helping a seller understand how buyers think isn’t about deflating their ego or legacy.
It’s about aligning expectations, reducing friction, and giving the deal the best chance of success.

And that’s what good brokers do.

If you’re navigating this with a client right now, or just want a second opinion on a tricky deal dynamic - I’d love to have a conversation.

👉 Book a free 15-min strategy call https://www.regenerationhq.co.nz/contact
👉 Or reply to john.luxton@regenerationhq.co.nz and we’ll line something up.