Purposes drift.

It happens regularly in business transactions.

Owners often begin the process of selling their business with a thoughtfully prioritized list of goals. While individuals will prioritize differently, lists often include some combination of multiple “wins”:

• a fair financial outcome,
• a great long-term home for their employees,
• continued excellent care for customers,
• opportunities for long-term suppliers,
• culture/values preservation and
• positive considerations for the families who depend on the company.

Most owners want their businesses to continue thriving across multiple dimensions long after closing day.

Then the process begins.

Without a focused approach, their thoughtfully prioritized list of goals can quickly and quietly narrow to maximizing price and negotiating the most favorable deal terms possible. Important priorities that once sat at the center of the conversation slowly move to the margins.

There’s no question that valuation matters. Deal terms matter. Sellers should absolutely pursue strong outcomes.

But the best transactions I have seen over decades in this profession are not single-win transactions. They are multi-win transactions where sellers, buyers, employees, customers, and communities all benefit from the transition.

Those outcomes rarely happen by accident.

Multi-win transactions require clarity early in the process. They require disciplined conversations throughout a well-planned process and they require a professional advisor who is experienced and willing to continually refocus the conversation on what success actually means.

For owners who want a transaction measured not only by closing-day economics, but also by the long-term health of the people, business, and community connected to it, we get you and we want to help. To start, we created The M&A Checklist for Private Business Owners. Download to assess whether your business is ready for sale.