“Patience is a virtue” is easier said than done, especially when parties are embroiled in the tense negotiations that often accompany business deals, and especially when self-imposed deadlines are nipping at their heels. But deals rarely benefit when a deadline takes precedence over the deal itself. In fact, far more often than not, pausing to reflect enables good things to happen and prevents unforeseen negative consequences from occurring.
Certainly, the need for speed and sustained forward progress makes sense in any business deal, but I have yet to encounter a deal that has suffered from taking the time to re-evaluate based on new information or insight.
Often, the original thesis (the reason the deal makes sense for both parties) is verified and the deal moves forward, perhaps with some adjustment to a post-closing operational matter or an allocation of risk. In some cases, the new information changes the