Gregg Lerman

People often think M&A is about "finding" the buyer — as if the outcome comes down to who can reach them. In reality, buyers want to be found. They’re out there, visible, and active — and they spend a lot of time and money making sure of it. Finding buyers is part of it, but it’s not the special sauce. Real success comes from running a full process — the parts you see: positioning, timing, buyer sourcing and engagement, and negotiation. And the parts you don’t: administration, coordination, coaching, and pace car. It’s a constant balance of hurry up and wait. We move quickly to keep things on track, even when others don’t. Selling a business is a full time job. And the six months leading up to a sale is the absolute worst time for an owner to get distracted by a new full time job.

It clicks when the owner shows up as who they really are — not the version they think they need to be. The best situations start with an owner who understands their business for what it is — whether it’s growing, niche, or an absolute beast — and sees it clearly. From there, it’s about realism. Either they have it, or they’re open to getting there. Early on, there’s often ego — posturing, defensiveness. That usually comes from a lack of trust. When that starts to drop and the conversation becomes honest, that’s when it clicks. That’s when the real work gets done.

I try to keep it real and straightforward. That’s how I work. The hardest conversations happen at the beginning, before they’ve decided to work with us. Most owners come in with a guard up. They’re thinking about how they should act and where to position themselves. They’re evaluating us — and starting the negotiation early, which is fair. That’s natural. It’s part of what’s made them successful. But it also makes it hard to have a real conversation. The work early on is finding common ground — getting aligned around how the market actually sees their business and where they truly stand. When the real person shows up — not the version they think they need to be — that’s when it clicks. That’s when the real work gets done.

I’ve known these guys my whole life — socially and professionally. They’re like brothers, and the trust and the love is there. We also work remotely, so we don’t kill each other.

Be honest. Keep it real. Run a real process — even when it’s tempting not to.

Twenty-five years in banking — as a business owner, investor, and advisor, on every side of the table. Mentoring, board work, and advising investment groups have always run alongside the core work. Good Hope is where it all comes together. "Selling a business is a full time job. The six months leading up to a sale is the absolute worst time for an owner to get distracted by a new full time job.