Dear BTF Community,
Many owners spend years building a business, only to discover late in the process that deals don’t fall apart on price alone. They unravel on terms, trust and expectations that were never fully negotiated in the first place.
That reality came through clearly in our conversation with William M. Donnellan, President and CEO of IRL Group of Companies. Speaking from decades of experience across construction, hospitality and real estate, William offered a buyer’s-eye view of what actually makes deals work and why so many fail unnecessarily.
His perspective offered a grounded and practical approach, one that sees negotiation is not confrontation. Where good deals are not zero-sum and trust, once broken, rarely comes back.
Key Takeaways for Business Owners:
- Walking away without negotiating is often the biggest missed opportunity.
- Deals only last when both sides are genuinely comfortable with the outcome.
- Overly complex agreements introduce risk rather than protection.
- Strong teams and visibility in the market matter long before an exit.
Enjoy,
Mark
Negotiation Is Not Conflict
William has seen many deals stall before they ever had a real chance. Often, it happens because one side treats the initial offer as final.
“Sometimes people say, ‘This is the price. This is the deal.’ The buyer looks at it, says, ‘That’s too much for me,’ and walks away without ever negotiating.”
For William, negotiation is not about winning. It is about understanding constraints and creating room for flexibility.
Coming from a European background where negotiation is woven into the culture, he sees it as an essential part of reaching better outcomes for everyone involved.
A Deal Only Works If Both Sides Do
At IRL, negotiation is guided by a clear principle.
“I think you should never do a deal unless both parties are happy. I don’t believe in forcing a deal. We won’t do a deal unless the seller is happy and the buyer is happy, because you have to think down the line.”
That long-term view matters.
Many counterparties own multiple properties or operate across portfolios. Leaving someone with a bad experience doesn’t just affect one transaction, it closes doors later.
“You don’t want anybody to have a stale taste in their mouth because if they do, they won’t want to work with you again.”
For owners thinking about exits or acquisitions, this mindset reframes negotiation as relationship-building rather than leverage-taking.
The Red Flags That Kill Deals
When William sees buyers hesitate or walk away, it is rarely because of one big issue. It is usually a collection of smaller ones that signal unnecessary risk.
“I think a lot of the time there’s too much jargon in these agreements, legal terms that the buyer doesn’t understand or they just don’t make sense.”
Complexity without clarity creates distrust and so do terms that ignore basic fairness.
“I’ve seen agreements where the seller or the landlord… will say, I can access the property anytime without any notice.”
William’s advice is direct.
“Don’t be afraid to stand your ground and only sign agreements you’re comfortable with. Once you sign that agreement or lease and accept terms you’re not comfortable with, it’s done.”
He also emphasizes flexibility in structure, such as shorter lease terms with renewal options, so businesses retain optionality as conditions change.
Trust, Relationships & Reputation
Across industries, William sees the same value drivers surface time and time again.
“I really think it all boils down to those two things, trust and relationships, and that’s not just in business, that’s also in life.”
Deals move faster and recover more easily when trust is present. Without it, even small issues can escalate into deal breakers.
“If people trust you and if you have a good relationship and you can maintain that the sky’s the limit.”
For BTF members, this reinforces a recurring theme.
Value is not only created on financial statements, it’s built through how you show up, communicate and how you follow through.
Leadership Is Not Micromanagement
As IRL grew beyond a one-person operation, William’s role had to change.
“You are only as good as the people around you… empower those people, give them the opportunity and the confidence to make some decisions.”
Micromanagement, he says, is usually a signal of a deeper issue.
“If I’m micromanaging people… I either hired the wrong person or I didn’t provide the right training, so it’s on me.”
Accountability, in his view, starts at the top. Mistakes are inevitable but what matters most is learning from them.
“It’s okay to make mistakes. Everybody makes mistakes. Just try not to make the same mistake twice.”
Preparing Long Before You Sell
For owners who may sell someday (but not yet), William notices one pattern among businesses that exit well.
“The one major thing I saw them doing was they really improved their marketing. They had a really strong social media presence… their images, their videos were very professional.”
The overarching theme is visibility matters. Buyers notice companies that look organized, safety-conscious and confident in how they present themselves to the market.
“It’s not about who you know. It’s about who knows you and not just do they know who you are or what your business is, but do they know how good you are? You’ve got to let them know.”
This kind of preparation does not start six months before a sale.
It is built over years.
Final Reflection
William Donnellan’s perspective is a reminder that strong deals are rarely accidental.
They are the result of clear thinking, fair negotiation, trusted relationships and businesses that are built to operate beyond one person.
For the BTF community, his message is simple and timely; negotiate, stay grounded, build trust and make sure the agreements you sign are ones you can live with long after the ink dries.