Most due diligence problems don’t happen because people skip due diligence. They happen because the due diligence becomes confirmatory. Everyone is busy. Everyone is professional. Everyone has checklists. But the questions shift from: “What could hurt us here?” to: “How do we justify moving forward?” When that happens, data stops being evidence and becomes a … Continue reading Confirmation Bias in a Suit
SBA 7a
Sunk Costs Create Bad Math
Here’s something buyers rarely admit: They start counting money they already spent as a reason to spend more. Legal fees, deposits, inspections, travel, diligence consultants, time off work, negotiation fatigue… And then they treat those as “investments that must be recovered,” rather than what they actually are: Sunk costs. A valuation comes in light, and … Continue reading Sunk Costs Create Bad Math
The “I’ve Already Told Everyone” Trap
One of the most underrated risk factors in acquisitions has nothing to do with the business. It’s social. By the time many buyers reach the valuation step, they’ve already told people. Their spouse Their friends Their current employer Sometimes their employees Their lender Their broker Their inner circle At that point, backing out isn’t just … Continue reading The “I’ve Already Told Everyone” Trap
Wanting a Business vs. Needing a Business
I’ve watched many smart buyers do something that sounds subtle but changes everything. They go from wanting the deal… to needing the deal. Wanting is healthy. Wanting means you’re motivated. Needing means your judgment is now compromised. Because when you need something, you stop asking, “Is this a good decision?” and start asking, “How do … Continue reading Wanting a Business vs. Needing a Business
The Moment the Deal Becomes Personal
There’s a subtle shift that happens in acquisitions, and it’s usually the beginning of the end of objectivity. At first, the buyer is evaluating a business. Then one day, without realizing it, they’re evaluating their future. They start picturing the first day as owner. The “after” picture. The new identity. The family conversations. The lifestyle … Continue reading The Moment the Deal Becomes Personal
From Assumptions to Outcomes
This body of work ultimately leads to one question: why does value sometimes disappear after a deal closes? The answer rarely lies in the math. It lies in assumptions about people, continuity, and leadership. When those assumptions unravel — so does goodwill.
Goodwill & Value Destruction Cause and Effect
Leadership behavior, risk tolerance, diligence discipline, and integration readiness are not independent variables. They interact — often invisibly — until consequences surface in the form of disengagement, disruption, and value erosion. This series of posts reconnects those threads into one continuous story.
The Quiet Truth About Value Destruction
Here’s the truth experience teaches clearly: Value isn’t destroyed by one bad decision.It’s destroyed by a pattern of small ones. Ignored risks.Skipped diligence.Managed optics.Unrepaired relationships. By the time value loss is visible, leadership failure has already done its work. Value is not owned.It’s sustained — or lost — through leadership.
Value Is Sustained After Closing, Not at It
Closing a deal is not the moment value is secured. It’s the moment responsibility begins. Value is sustained through:• leadership behavior• early intervention• preparation• listening• trust When those are absent, the check may clear — but the value won’t hold.
Overpayment Is Often a Leadership Outcome
Most overpaid deals didn’t fail because of bad math. They failed because leadership overestimated control and underestimated choice. People weren’t retained.Knowledge wasn’t secured.Continuity wasn’t earned. The price assumed stability that leadership never created.
Highland Global Business Valuations 