Why do so many Canadian lower-middle-market M&A deals begin with strong intentions but never reach closing? This podcast explores the predictable reasons transactions fail, from seller unpreparedness and valuation disconnects to due diligence surprises, financing challenges, governance approvals, and business performance issues during a lengthy sale process. The episode walks through the six stages of a typical sell-side transaction, highlighting where deals can break down and what owners can do to reduce those risks. It covers quality of earnings and business readiness assessments, sector-specific due diligence, confidentiality and buyer selection, LOI negotiations, buyer approvals, tax planning, and the importance of protecting day-to-day operations throughout the process. For Canadian business owners considering a sale, this discussion provides practical insight into preparing the business, setting realistic expectations, choosing experienced advisors, and managing the process from preparation through closing. Understanding where deals die can help owners identify potential problems before they become obstacles to completing a successful transaction. Explore more insights, guides, and resources at redacted (redacted