For managers with large pipelines to review, asking three core questions can quickly get to the heart of a deal's health: Why do they need to buy? Why won't they buy? And why do they need to buy now?

M&A teams often kill their pipeline by applying overly restrictive criteria at the long-list stage. A better approach is to be more lenient, focusing on only 3-4 critical criteria. This creates a large pool of potential targets, fostering a healthy funnel dynamic instead of a restrictive "must-win" tunnel.

Maintaining a full pipeline through consistent prospecting gives salespeople options. This allows them to detach from the outcome of any single deal, reducing desperation and pressure. The ability to walk away from a deal because you have other opportunities creates immense confidence that buyers can sense.

Contrary to standard M&A practice where integration begins post-close, Brad Jacobs makes immediate, unrestricted access to a target company's employees and operations a non-negotiable term upon signing. This allows his team to begin the integration process weeks or months earlier.

Instead of pushing harder on stalled deals, redirect that energy into prospecting. A fuller pipeline reduces your desperation, which changes the dynamic with existing prospects and creates momentum that can indirectly un-stall deals.

When acquiring a business, don't rely on a single outcome like achieving a growth target. Instead, seek assets that offer multiple ways to win. Even if the primary goal is missed, the acquired data, technology, or talent could create significant value for other business units, providing built-in insurance for the deal.

To counteract the natural pressure to "do deals," roll-up operators should build an overwhelmingly large target pipeline. Scarcity creates a "must-win" mentality, leading to poor decisions. An abundant pipeline makes it easier to say no to subpar opportunities and stick to the investment thesis.

Instead of a linear process, treat M&A as a spiral. Constantly revisit and adjust deal structure, diligence findings, and integration plans. A discovery in one area (e.g., diligence) should trigger a reassessment of the others (e.g., deal structure), ensuring a cohesive and de-risked outcome.

To maintain team morale and performance, structure sales pipelines like a venture capital portfolio. Each rep needs a mix of "liquidity" (smaller, faster deals) to stay motivated and build confidence, alongside "whales" (large, strategic accounts) for massive upside, preventing burnout from only chasing long-cycle enterprise deals.