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When meeting a target company's investor alongside their CEO, Zayo's CEO would mention a new 'fact' the CEO hadn't heard. This sowed distrust between the seller's CEO and investor, creating a negotiation advantage.

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To create urgency, Zayo's deal team would discuss a (sometimes fictional) competing deal that was picking up momentum. This tactic made the seller fear losing the buyer's attention, motivating them to close the current deal quickly.

If a venture capitalist seems dismissive or is about to pass on your startup, abruptly moving to end the conversation can trigger their fear of missing out. Their instinct to not let a potential deal walk away can make them instantly re-engage, even if it's only to offer help or introductions.

Instead of guarding information as negotiation advice often suggests, proactively revealing your position (e.g., intent to pay cash, trade-in details) can disarm the other party. This unexpected transparency encourages them to reciprocate, often revealing critical information, like their own compensation plan, which you can then leverage.

Zayo CEO Dan Caruso would sometimes counter a seller's offer with a lower number than his previous bid. This unorthodox move was designed to create emotional distress, reframe control, and break a negotiation stalemate.

The successful acquisition by MyFitnessPal began when Zach reached out to their CEO not to sell, but to 'learn' about their freemium model. This non-threatening posture of seeking advice disarmed the target and naturally pivoted the conversation toward a potential partnership or acquisition.

When investors who previously wrote off your startup try to maximize their return at the team's expense during an acquisition, use a co-founder negotiation tactic. One founder can play the 'bad cop' who is unwilling to concede on team retention terms, shielding the team's financial outcome.

When a buyer consortium tried to force a lower price by locking up all available debt financing sources, Zayo's CEO regained leverage by personally orchestrating an alternative bid, convincing two smaller, reluctant firms to partner up.

In large deals, internal 'enemies' often champion a competing solution. Top reps know the goal isn't to win these individuals over, which is often impossible. Instead, they focus on engaging them directly to neutralize their opposition, preventing them from actively derailing the deal.

When investors say "no," don't just accept it. Reframe their decision as a potential mistake, comparing it to common investor errors like overlooking a great founder due to market concerns. This tactic, which turned two rejections into $12M, repositions you from supplicant to a confident peer and can reopen the conversation.

Zayo's reputation for rapid, decisive integration—'smashing' companies together—was a double-edged sword. Sellers and investors knew Zayo could close deals reliably. However, target CEOs who were proud of their systems and culture became hesitant to sell to them, knowing their company would be fundamentally changed. This created a strategic tension to manage.