Positioning also requires clarity about differentiation. Buyers routinely compare potential targets and companies which appear interchangeable struggle to command premium valuations. Founders should be able to articulate not only what the company does, but why it is meaningfully different from alternatives.

Differentiation may come from technology, brand, data, network effects, regulatory approvals or execution capability. Importantly, differentiation is buyer-specific: what matters to one acquirer may be irrelevant to another. Strategic positioning therefore involves emphasising those elements of differentiation that align most closely with the priorities of the target buyer group.

Strategic fit is equally important. A company may be strong in absolute terms, but if it does not integrate well with a buyer’s strategy, systems or culture, interest may be limited. Founders who understand how their business complements potential acquirers are better placed to anticipate concerns and address them proactively.