WHY A FUNNEL?
I have frequently been approached by clients after a deal suddenly fell through—a deal they had been working on for months or even years. I recall a manufacturer of agricultural equipment that was convinced from the start that they had found the “Holy Grail” of acquisition targets. They believed this prospect was the perfect fit for their external growth needs. They cast aside all other candidates and poured all their energy into the pursuit of this one company. After months of positive negotiations, the prospect abruptly got cold feet and backed out. The owner decided he wasn’t ready to sell a business that had been in family hands for multiple generations. The agricultural equipment manufacturer was left to start the entire acquisition ...
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