Personally, I have only ever lost deals at the point where, in representing the seller, I put a price on the table. If the price is too high you are deemed as ‘greedy’; if the price is too low, then what’s the point?! Our strategy is always to request offers from interested parties once we have shared sufficient information for them to make an informed decision. The request for offers is underpinned by a number of important elements and learnings: firstly, our experience ha

Of the business owners I speak to, and the attendees at our Masterclasses, the vast majority have experienced some form of deal opportunity which has not concluded or has failed dismally below original expectations. Invariably the owner is left asking what on earth happened, and why did this look like such a good deal, but resulted in endless frustration, wasted energy and time? Firstly, it must be said that business owners rarely have the experience to match that of the typi

Risk is a critical element of any deal, and it would be remiss of a seller to assume that future risk is entirely the acquirer’s problem. That said, acquirers often lack creativity when it comes to managing post-acquisition risk. They assume that the only way to manage their risk is through an earn-out structure: Keep the owner in the role of MD for a couple of years, and only pay out the full purchase price once certain profit warranties have been met. As I have mentioned in

This topic always sparks meaningful debate. To maximise value in a business sale, it is essential to be clear on what truly matters to you and to run a structured process that is designed to deliver on those priorities. At the same time, caution is required. Being too rigid in your assumptions about non-negotiables can unintentionally deter serious acquirers. Some may come very close to meeting your expectations but walk away if they sense there is no room for flexibility. Ke

So often, the reality is that the sale of a business is highly emotional for the seller and entirely commercial for the acquirer. As a seller, you need to be aware of this and take it into account when responding to an acquirer’s questions. For example, when an acquirer asks how you have managed to keep staff morale at a high level, one’s instinctive response may be to talk about the fact that the business is like a family and staff see you as their “father”. That would be an

Most business owners feel a strong pull to get out there and chase a deal. Even when they know they haven’t fully thought things through, there’s often a belief that a quick win is possible, that perhaps there’s a shortcut to securing a great outcome. In reality, that shortcut rarely exists. The better approach is to prepare properly and be ready for a longer journey. That doesn’t mean you ignore opportunities that arise quickly. It means you are in a position to act on them