I get asked all the time: “How do I know if my business is ready to sell?”
The truth is, most owners aren’t sure. And that’s okay. Whether you’re actively planning to sell or just starting to toy with the idea, one thing holds true: the more intentional you are now, the better the payoff later.
Selling a business is a big deal. It’s not just a financial transaction—it’s a personal milestone. For many, it’s the result of years of hard work, risk, and passion. That’s why it’s worth doing thoughtfully and strategically. Our job is to help you prepare smartly, so when the time comes, you walk away with a result that honors both your goals and your legacy.
When I sit down with business owners, I ask them three key questions:
- If someone wanted to buy your business today, what exactly would they be purchasing?
- Could your business run without you for 90 days?
- Are you building something someone else would want to own?
These aren’t trick questions—they’re starting points. If you’re thinking about selling soon (or just want the option to), these are the conversations that matter most. Buyers are smart. They’re going to look under the hood. Being prepared puts you in control—and protects your value. So what does “ready” really look like?
- Financials: Clean Books, Higher Offers
If your numbers are messy or incomplete, buyers will notice, and they’ll hesitate. Having solid, easy-to-understand financials is the foundation of a successful sale. Think clean P&Ls, detailed balance sheets, and proof of cash flow.
Not quite there yet? That’s okay. We’ve got trusted financial pros who specialize in helping business owners like you get everything in order. Let us introduce you. It’s one of the smartest investments you can make when preparing for a sale.
- Confidentiality: Keep It Quiet, Keep It Clean
Thinking of telling your team or customers too soon? That’s a risky move. Confidentiality is critical. The last thing you want is rumors or uncertainty swirling while you’re trying to close a deal. We work with sellers to keep things discreet and professional, sharing sensitive information only with serious, vetted buyers under strict confidentiality agreements.
- Real Estate: Own It or lease it?
Do you own the property where your business operates? That can be a major asset. It can be sold with the business, or separately, depending on what works best for your goals. Leasing instead? We’ll need to review the lease terms. Many leases can be assigned or renegotiated, but understanding those details early is key to avoiding delays.
Real estate isn’t just a backdrop. It’s often a key part of the transaction and requires a game plan of its own.
- Operations & Systems: Can It Run Without You?
Buyers want confidence that the business will continue running smoothly without you. If everything depends on your presence, that’s a red flag. Documented systems, efficient processes, and a dependable management team all contribute to a business that’s attractive and valuable to potential buyers.
- Customer Base & Contracts: Show Your Strength
A diverse and stable customer base makes your business more appealing. Bonus points if you’ve got recurring revenue or long-term contracts in place. If your revenue is concentrated among just a few clients, that’s something to address well before going to market.
- Legal & Compliance: Button It Up
Is your business in good legal standing? Are your contracts current? Any unresolved disputes or liability issues? These are the questions buyers, along with their attorneys, will ask. Better to resolve any issues now than have them derail a deal later. A quick legal check-up now can save a lot of trouble down the road.
Not Selling Yet? Let’s Talk Exit Strategy
Even if selling feels like a “someday” plan, every business owner needs an exit strategy. Whether your timeline is five years or fifteen, what you do now shapes what your eventual exit will look like.
Keith Cunningham, author of The Road Less Stupid, is a strong advocate for moving out of “operator mode” and stepping into the mindset of a strategic owner. That shift, from doing to directing, has the power to transform not just your exit strategy but also the day-to-day health of your business.
A business that’s ready to sell tends to be more efficient, less stressful, and more profitable. Getting ready for the future isn’t about stepping back; it’s about stepping up.
No matter where you are in the process, we’re here to help. Whether you’re thinking about selling now or just starting to plan for the future, let’s have a conversation. The best exits always begin with the right strategy.
