Differentiation And The Changing Nature of Selling A Healthcare Business
There was a time when buying and selling a healthcare business was a relatively unsophisticated process. Today’s sellers and buyers are increasingly looking at a variety of factors as they prepare to transact. The age of the Fuller Brush Man, as Daniel Pink notes in To Sell Is Human, has long passed (in fact, there is only one Fuller Brush Man left in America at the time of this newsletter edition).
Pink identifies three characteristic of the contemporary seller that bear paying attention to:
Attunement – this is bringing your viewpoint and action into harmony with the context you are in. In essence, this means that the seller has “buyer’s eyes” and presents the potential transaction with this in mind. It doesn’t mean adopting the buyer’s stance, but it incorporates an appreciation and understanding of the buyer’s position.
Buoyancy – this is the ability to stay afloat amidst rejection, apparent chaos, and changing negotiating dynamics. Sellers are often unprepared for the many turns a transaction can take and remaining calm and patient actually helps the potential buyer do the same.
Clarity – this is the capacity to help others see their situation in a novel way. This might sound odd but buyers sometimes get stuck in a particular view of the transaction and creative seller problem solving can help the buyer, as well as the seller, move forward.
The differentiation in this process includes all of the above. A successful seller has to have a solid value proposition where the buyer can see the value. Adopting the above ABCs can accelerate a transaction and help the seller stand above the pack.