Good negotiation in a business sale is rarely about squeezing the last penny out of the other party. The deals that turn out best are often the ones where both parties leave the table feeling they got something that genuinely mattered to them.
Short answer: A good negotiation strategy starts with knowing your own priorities (price, speed, employees' future, your own role after the sale) and trying to understand the other party's equivalent priorities — because there's often room for solutions where both parties get what matters most to them, without it costing the other party as much.
Know your own priorities before you negotiate
Is price the most important thing? Or does it matter more to you that employees are in good hands, that the deal closes quickly, or that you get a role in the business after the sale? If you don't know this yourself, it's hard to negotiate purposefully — and easy to end up focusing solely on price, even though other matters genuinely matter more to you.
Understand what drives the other party
A strategic buyer might weigh synergies and speed higher than the absolute lowest price. A financial buyer might weigh predictability and low risk. The better you understand the other party's priorities, the easier it is to find solutions where you both win — instead of a pure tug-of-war over a single number.
Use time and patience as a tool
Pressure and deadlines can in some cases push a deal through — but they can just as often create distrust and cause the other party to withdraw. A calm, well-prepared process wins more often than a rushed one.
When should you use a professional negotiator?
For larger or more emotionally charged deals, it can be hard to negotiate objectively yourself — particularly if you built the business yourself. An experienced mediator or advisor can create the necessary distance while ensuring the negotiation stays constructive, even when the parties disagree. See also what to do if the negotiation deadlocks.
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