How M&A actually works, where sellers hold leverage, and the deal terms that quietly move value.
Most founders believe storytelling drives valuations. It doesn’t. Business fundamentals create the multiple. Once the right buyers are at the table, the story only helps them see what is already there.
Read the Insight →Software multiples run anywhere from 1x to 30x revenue, and no model answers the valuation question perfectly. The buyer you run to decides which band you land in.
Every buyer band assumes the numbers survive diligence. When the data won’t come on demand, buyers assume risks they can’t yet see, and the multiple contracts.
Most founders treat the LOI as the finish line. For the buyer, it’s the starting line. Once exclusivity begins, the market goes quiet, and the leverage shifts.
A 30-minute working session with the senior team. No commitment. We will pressure-test the story and share a grounded view on timing and value.
Schedule a Working SessionThe deal terms that quietly move value, monthly, from Shane. No spam, no marketing, no padding. Just the writing that founders actually keep.