Inside the Buyer's Mind: Who's Buying & What Industries

What are buyers really looking for in today's deal market? In this episode of Transaction Talk, Jennifer Fox and Eric Sigman are joined by Steven Smith of Business Transfers & Strategies, a buy-side advisor who works closely with individual buyers, private equity groups, and strategic acquirers. He breaks down how each type of buyer approaches acquisitions and what drives their decisions, from growth potential and scalability to long-term alignment. The conversation also explores shifting industry trends, key risks shaping buyer behavior, and what can make or break a deal during the process. Throughout, Steven emphasizes a central theme: success in today's market comes down to fit, not just chasing the hottest industries. Tune in to hear the full scope of our conversation and what today's buyers are really looking for!

Key Points From This Episode:

• Welcoming returning guest, Steven Smith of Business Transfers & Strategies.
• Types of buyers: individuals, private equity groups, strategics, and family offices.
• What each type of buyer is looking for, from scalability to long-term fit.
• Key risks buyers assess: employees, customers, and industry factors.
• Industries that are gaining traction, like home services and electrical contracting.
• Why buyers must differentiate themselves in a crowded, competitive market.
• How tariffs and supply chain disruptions are impacting manufacturing deals.
• AI and automation as emerging factors in buyer decision-making.
• The importance of fit over chasing "hot" industries.
• How buyer background, skills, and experience shape what makes a "good fit."
• Common seller mistakes: poor financials, delays, and lack of transparency.
• Why communication and preparation can make or break a deal.

Tip of the Day: Don't chase industry, chase fit. The long-term value of a deal depends on how well you align with the business and your ability to improve it over time.

Links Mentioned in Today's Episode:

Steven Smith on LinkedIn

Business Transfers & Strategies
Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

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