I found anchoring on price early in the process has been helpful to understand who is serious and who is not. I've been through the process twice, well actually three times as the first time the deal fell through (we sold 20 months later). Some businesses simply are bought on a multiple of revenue or ebitda that is common in their industry and in that case I found it expedites the process to be clear on top line + adjusted ebitda and expected range of valuation.

I also negotiated salaries etc early in the process so it's all generally done at the same time before the term sheet.