What Can't I Control in an Acquisition?
Market timing, buyer priorities, economic conditions, and competitive dynamics are largely outside your control. Focus on what you can control: your metrics, narrative, and process execution.
Market Forces Beyond Your Control
Economic Cycles
What happens: Interest rates, market volatility, and economic uncertainty affect buyer appetite and valuations
Impact: Deals take longer, valuations compress, buyers become more selective
Your response: Be flexible on timing, have strong fundamentals, consider waiting if market conditions are terrible
Buyer Internal Politics
What happens: Leadership changes, budget cuts, strategic pivots, competing priorities
Impact: Deals get delayed, killed, or repriced even when you've done everything right
Your response: Build relationships with multiple stakeholders, have backup buyers, don't get emotionally attached to one deal
Competitive Landscape Shifts
What happens: New competitors emerge, industry consolidation, technology disruption
Impact: Your strategic value can increase or decrease rapidly
Your response: Monitor industry trends, stay agile, move quickly when you see opportunity
Regulatory Changes
What happens: Antitrust scrutiny, industry regulations, tax law changes
Impact: Some buyers become unavailable, deal structures change, timelines extend
Your response: Understand regulatory risks early, have diverse buyer pool, work with experienced lawyers
What You CAN Control
Your Business Fundamentals
- Growth rate and profitability metrics
- Customer retention and satisfaction
- Team performance and retention
- Operational efficiency
Your Deal Process
- Quality of your preparation and documentation
- Strategic positioning and narrative
- Relationship building with potential buyers
- Timeline management and urgency creation
Your Response to Setbacks
- How quickly you adapt to changing conditions
- Your ability to maintain team morale during uncertainty
- Flexibility on terms and structure
- Persistence in the face of rejections
Managing the Uncontrollable
Diversify your options: Don't depend on one buyer or one type of buyer
Stay informed: Monitor industry trends, economic indicators, and buyer activity
Be patient but not passive: Good timing matters, but don't wait forever for perfect conditions
Focus on fundamentals: Strong businesses are more resilient to market volatility