I had the pleasure of traveling last week with a software M&A client to meet with a buyer at the buyers HQ across the US. Nothing like a face to face meeting to advance a deal. My client prepared well and we had an engaging presentation and demo to fill most of the day. The buyer in turn assembled a team including the Founder/Chairman, CEO, CFO and two product managers to spend the day with us, giving us all a great opportunity to not just evaluate the product fit, but, more importantly, the people, and cultural fit. Very hard to achieve what we did today with a Webex or a conference call, let alone emails.
To move things faster, get in front of your audience. It is all too easy to take the shortcuts, thinking you can achieve the same impact with easier, cheaper options. People are really buying people more than technology when acquiring a software company. Demonstrate your commitment by taking the time to travel and meet people and, importantly, prepare properly and dress up for the occasion.