In today’s M&A landscape, being great isn’t enough.
There are thousands of profitable, well-run businesses out there—and many of them are for sale. But only a handful are positioned in a way that makes buyers stop, lean in, and say, “We want that one.”
I’ve seen it firsthand in my own exit journey—and now, through Legacy Advisors, I see it from the advisory side every week. The difference between getting a mediocre offer (or none at all) and fielding competitive bids is often positioning, not performance.
Positioning isn’t branding fluff. It’s strategic. It’s surgical. And it starts long before you hit the market.
So if you’re a founder thinking about a future exit, this is for you.
Let’s talk about how to stand out in a crowded market—and exit on your terms.
Understanding Market Saturation and Buyer Fatigue
Let’s be honest—buyers are tired.
Whether it’s private equity, family offices, or strategics, buyers are looking at more deals than ever. Their inboxes are flooded with CIMs. Their deal teams are stretched thin. Their risk tolerance is lower than it was a few years ago.
So when they look at your business, they’re not asking, “Is this company profitable?”
They’re asking:
- “Is this company different?”
- “Is it truly better—or just louder?”
- “Can I explain this acquisition to my investment committee in one sentence?”
If your business doesn’t have a clear, compelling position in the market, it blends into the background. And when that happens, valuation drops—or the buyer moves on entirely.
What Strategic Positioning Really Means
Strategic positioning in M&A is about answering this core question:
“Why would someone want to buy this business instead of the other 12 they’re considering?”
It’s not just about your revenue, your growth rate, or your customer count. Those are important, but they don’t create urgency.
What creates urgency is fit—when a buyer sees your business as the missing piece in their puzzle. Strategic positioning is about making that connection obvious.
It’s how you bridge the gap between what you’ve built and what the right buyer wants.
Start with the Buyer in Mind
Most founders make the mistake of positioning their business the way they see it—not the way a buyer would.
But the buyer’s lens is different. They’re thinking in terms of:
- Risk
- Synergy
- Growth opportunity
- Integration friction
- ROI within 12–36 months
So step one in standing out is stepping outside your own perspective.
Ask:
- What kind of buyer is most likely to acquire a business like mine?
- What are they trying to achieve through acquisition?
- How can I align my strengths with those goals?
Whether it’s geographic expansion, new customer verticals, technology enablement, or operational efficiency—your positioning should speak to the buyer’s strategy, not just your own success.
Differentiation in a Sea of Sameness
In a saturated market, being “good” isn’t enough. You have to be distinct.
Here’s how to identify your differentiators—and sharpen them.
Niche Dominance
Buyers love category leaders—even if the category is small. If you own a vertical, geography, or customer profile that others don’t, lead with that.
Being the biggest player in a narrow lane is often more valuable than being a mid-tier player in a broad one.
Proprietary Processes or Technology
Do you have IP, automation, systems, or workflows that your competitors can’t easily replicate? That’s leverage. Highlight it. Package it. Prove it.
Buyers don’t want to acquire headaches. They want to acquire unfair advantages.
Exceptional Customer Retention
Sticky customers are gold. If your churn is low, LTV is high, and you’ve built trust in your base—make it known. Show the metrics, testimonials, and reasons.
If you can explain why customers stay, you’re also explaining why buyers should pay.
Culture and Leadership
This one’s overlooked. In founder-led businesses, buyers fear chaos post-transition. If you’ve built a team that performs, owns outcomes, and scales—make that part of your positioning.
Talent and culture are assets. Don’t bury them in the appendix.
Packaging the Story: Where Most CIMs Fall Flat
A well-positioned business can still be undervalued if its story is poorly told.
I’ve reviewed hundreds of CIMs (Confidential Information Memorandums), and the pattern is clear: most founders bury the gold.
They lead with P&L, throw in a generic “Why We’re Great” slide, and hope the buyer connects the dots.
But buyers don’t connect dots—they scan for signals. You have to connect the dots for them.
Here’s how:
- Start with the buyer thesis: “Here’s what you’re looking for, and here’s how we deliver it.”
- Clearly highlight your differentiators—not buried on slide 17.
- Back every claim with proof: data, systems, retention, case studies.
- Simplify. If it takes 20 minutes to understand your model, you’ve lost them.
At Legacy Advisors, we often work with clients before they go to market to reshape how they’re presenting their business. Because if the buyer misses the hook, you miss the deal.
De-Risking Is Part of Positioning
Buyers don’t just want a great opportunity—they want a safe one.
A key part of standing out is showing that you’ve thought through (and addressed) the common areas of risk:
Founder Dependency
If you’re still the glue holding everything together, that’s risk. Your goal is to disappear from day-to-day operations before you hit the market.
Start transferring authority. Document processes. Highlight leadership depth.
Financial Transparency
Buyers aren’t impressed by growth alone—they want to understand how and why it happened.
Are your books clean? Do you use accrual accounting? Are your margins stable and repeatable?
A clean financial story builds trust—and trust builds valuation.
Operational Readiness
Is your business turnkey? Can it integrate easily into a buyer’s stack or structure?
The more “plug and play” your systems and workflows are, the more valuable your company looks. Reduce friction. Simplify scale.
Timing Also Matters
Even the best-positioned business won’t exit well if the market’s wrong—or the founder is unprepared.
That’s why we talk so much about exit forecasting on the Legacy Advisors Podcast. You need to be building positioning into your company 24 to 36 months before you plan to sell.
Why?
Because you may need time to:
- Hire and develop a leadership team
- Shift your revenue model to increase predictability
- Diversify your customer base
- Clean up financials
- Create marketing material that reflects your UVP
Positioning isn’t a last-minute paint job. It’s baked into how you build.
The Legacy Lens: My Own Journey
When I exited my family’s energy business, I didn’t do it because I was tired or chasing a dollar.
I did it because the business had evolved, the team was strong, and it was time to pass the baton to new stewards.
But it only worked because we were positioned properly.
We had:
- A clear market niche
- Operational strength
- A culture that scaled
- Predictable cash flow
- Low customer churn
- Strategic appeal to both investors and operators
That exit changed the game for our family—and helped fund my transition into full-time advising and investing.
I didn’t wait until we needed to sell. We sold when the story was strongest.
That’s the power of positioning.
Standing Out Doesn’t Mean Starting Over
One final point: you don’t need to reinvent your business to stand out.
You don’t need a new product, new brand, or new vertical.
Most of the time, you already have what buyers want—you just need to:
- Identify it
- Sharpen it
- Prove it
- Package it
- Tell the story clearly
And that’s what strategic positioning is all about.
Final Thoughts: Be the Business Buyers Talk About After the Meeting
In a crowded market, the real win isn’t just getting interest—it’s getting remembered.
When the buyer leaves your pitch and walks into their next diligence call, will they be thinking:
“That one was interesting. I need to learn more.”
Or will you fade into the background, just another profitable business in a sea of sameness?
Positioning is how you own the room—even when you’re not in it.
So start now. Define your UVP. Build the assets. Clean up the risk. Tell the right story.
Don’t just be another company for sale.
Be the one they can’t afford to ignore.
Let’s make that happen—together.
Frequently Asked Questions: Strategic Positioning in a Crowded Market
What does “strategic positioning” really mean in the context of selling a business?
Strategic positioning means deliberately shaping how your business is perceived by buyers so it rises above the noise. It’s about making your company not just one of many options—but the option that aligns perfectly with a buyer’s goals. That might mean being the leading provider in a niche market, owning a proprietary process others can’t replicate, or demonstrating predictable, recurring revenue that de-risks the deal. In a crowded M&A environment, performance alone isn’t enough. Positioning ensures that what makes your business special is front and center, backed by proof, and communicated with clarity. It gives buyers a reason to prioritize you.
Why is positioning so important in a saturated or competitive market?
Because buyers are overwhelmed with options. In today’s M&A environment, deal teams are evaluating dozens—sometimes hundreds—of potential targets. They don’t have time to dig through every CIM and uncover hidden gems. If you don’t lead with what sets you apart, you’re likely to be overlooked. Strategic positioning gives you the edge by making your story immediately relevant, differentiated, and compelling. It allows you to control the narrative and reduce buyer friction. When you position properly, buyers see you not as one of many—but as the missing puzzle piece in their strategy. That’s what creates urgency and drives value.
How do I figure out what makes my business stand out to buyers?
Start by looking at your business through the buyer’s lens. What do they value most—predictable cash flow, operational efficiency, customer loyalty, a niche market, or something else? Then, ask yourself where your business excels in those areas. Do you have low churn? Strong margins? Unique processes? Specialized team expertise? Next, back up your claims with real data. Strategic positioning isn’t about inflating your value—it’s about surfacing the right value. At Legacy Advisors, we help founders identify and articulate those differentiators in language buyers understand, backed by proof, and tied to what matters most in today’s deal market.
When is the right time to work on positioning my business for sale?
Ideally, you should start refining your strategic positioning 12 to 36 months before you plan to go to market. Why so early? Because many of the things that truly drive value—clean books, transferable systems, leadership depth, and documented processes—take time to build. You may also discover untapped opportunities to reposition your offerings, package your IP, or reduce customer concentration. Waiting until you’re ready to sell often forces you to react to buyer objections. Starting early gives you the power to lead the conversation—and that translates directly into stronger offers, smoother diligence, and greater optionality during the sale process.
Can I still stand out if my business looks similar to others in my industry?
Yes—and in many cases, that’s where positioning makes the biggest difference. Even in commoditized industries, small differences in execution, customer experience, team culture, or systems can be huge differentiators if you highlight them correctly. The key is not just being different—it’s proving that difference and tying it to what the buyer values. For example, two HVAC companies might offer similar services, but if one has automated workflows, better margins, and 95% customer retention, that’s a premium story. Strategic positioning is what turns subtle strengths into standout reasons to buy. It’s how you shift from “another deal” to “the right fit.”