As an owner with a Type Six Loyal Skeptic personality on the Enneagram, my natural instinct during due diligence is to assume the buyer is trying to exploit us, which makes me highly defensive. How do I manage this risk-averse behavioral pattern during intense negotiations so I do not accidentally derail a highly lucrative transaction?
As an owner with a Type Six Loyal Skeptic personality on the Enneagram, your natural instinct is to anticipate worst-case scenarios, which can make you highly defensive and skeptical of a buyer's intentions during due diligence. While this risk-averse mindset protects you from bad deals, it can also lead to transaction fatigue and cause you to kill a highly lucrative offer over minor disagreements.
To manage this behavioral pattern, you must use the Trust Creation Process to guide your interactions. The first step is to recognize your anxiety and deliberately adopt an other-focused mindset. Instead of assuming the buyer is trying to exploit you, focus on understanding their strategic goals and what they need to feel secure in the deal.
Use the five steps of the Trust Creation Process: engage with their concerns, listen actively without getting defensive, frame the issue collaboratively, envision a mutual solution, and commit to clear next steps.
For example, if a buyer requests an unexpectedly detailed audit of your financial books, do not assume they are trying to renegotiate the price. Frame their request as a reasonable step to verify the stability of the business. By focusing on building a personal, trusting connection rather than retreating into defensive skepticism, you can keep the negotiations on track and secure a successful, high-value exit.
Category: Exit Planning