What It Takes to Be a Winning Buyer and a Winning Seller
With all the dealmaking taking place in the accounting profession, buyers and sellers bring different goals, expectations and deal structures to the table. Yet, regardless of the size or terms of a transaction, certain characteristics consistently distinguish a winning buyer and winning seller.
What Makes a Winning Buyer?
Excellent Listener – Listens to sellers’ concerns and expectations with respect.
Transparent – Is realistic and forthcoming about things that have not gone right.
Open-Minded – recognizes that no deal is perfect and remains willing to explore creative solutions without compromising sound risk management.
Timely – Meets deadlines and responds to inquiries within 24-36 hours.
Team-Centric – Involves key leaders early to build consensus because future success will depend on the strengths of the entire organization, not just a few individuals.
Fair – Understands market conditions and negotiates without lowballing or overpaying.
What Makes a Winning Seller?
Data-Ready and Fluent – Understands the firm’s KPIs and can explain variances from market benchmarks.
Market-Aware – Understands current transaction pricing and structures and enters negotiations with realistic expectations.
Timely – Meets agreed-upon deadlines and responds to inquiries with in 24-36 hours.
Transparent – is willing to openly discuss concerns, uncertainties, and challenges that could affect the transaction.
Self-Aware – Recognizes the firm’s strengths and weaknesses and is prepared to address both honestly during negotiations.
Team-Centric – Engages key people early, considers how a transaction will affect employees and clients, and builds the internal support necessary for a successful transition.
What Ultimately Makes a Winning Deal?
Strong chemistry between the negotiators will go a long way, but organizations are bigger than people sitting at the negotiating table. Long-term success depends on shared goals, complementary strengths, and the ability of both teams to work together.
Equally important is establishing a reasonable timeframe for determining whether the fit is right. Buyers and sellers must be willing to accept what they learn rather than rationalize away troubling information. Red flags should not be dismissed simply because everyone wants a deal to happen. Each party needs to know its non-negotiables and be prepared to walk away if necessary.
No deal is perfect. But without transparency, fairness, responsiveness, self-awareness, and organizational alignment, even an attractive transaction can become a bad deal.
Winning isn't simply getting a deal done. It's creating a combination that works for both parties long after the closing.
