By the time a business reaches the Deal-Making and Negotiation Phase, months of preparation have already taken place. The business has been prepared for market, buyers have been identified and engaged, meetings have been held, and written offers have finally arrived on the table. For many business owners, this can feel like the finish line. After all, if multiple buyers are interested and offers have been received, surely the deal is almost done? In reality, this is often where some of the...

The first two phases of a business sale are centered on preparation. During DLI’s Foundation Phase, business owners gain clarity on their objectives, valuation expectations and exit strategy. In the Prep Phase, the business is positioned for market, key information is organised, and a carefully targeted universe of potential acquirers is identified. But preparation alone does not create value. Value is only realised when the market is engaged, buyers are approached, and genuine competition is...

Many business owners assume that selling a company is primarily about finding a willing buyer and agreeing on a price. In reality, buyers determine value very differently. The businesses that achieve premium valuations are typically those that have been carefully prepared for sale, marketed to the right audience and positioned to demonstrate future growth rather than simply historical financial performance. That was one of the central messages from mergers and acquisitions advisory Deal...