What happens when your business becomes your identity?In this episode of Buyers’ Frenzy, host Will Lindstrom sits down with Patrick McMillan, leader of the Transaction Advisory Practice at Amplio, to explore one of the most overlooked deal killers - the founder’s inability to let go.Patrick shares real-world stories of founders who struggled - and even sabotaged deals - because they couldn’t separate their self-worth from their company. He contrasts this with owners who thrive post-sale by defining a clear “next chapter” before entering negotiations. From defensive behavior in diligence calls to the emotional fallout after a transaction, Patrick explains why identity is often the hidden factor that determines whether a deal succeeds or collapses.Highlights Covered:Why founders struggle to separate personal identity from their businessHow defensive or hesitant behavior during diligence raises red flags for buyersA negative case study where the seller’s lack of clarity killed trust in the dealA positive example of an owner who exited with purpose and confidencePractical steps to avoid the identity trap, including asking others “who am I outside of work?”Why experimenting with new roles or passions before selling creates smoother transitionsHow hesitation and delay tied to identity can diminish valuation. Whether you’re planning an exit or just considering the future, this conversation shows why clarity about who you are beyond your company is as critical as clean financials.Have insights on “Deal Killers”? If you’re a CEPA, CPWA, CFP, or fiduciary with experience navigating the hidden risks that derail deals, we’d love to hear from you. Connect with us on LinkedIn or at theculturethinktank.com/contact

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