So… You’re Thinking of Selling Your Business?
First off, congrats. Seriously, getting to a point where you can even consider selling your business means you’ve built something worth buying. That alone puts you in rare air—like nosebleed-section-at-a-private-jet-auction rare.
Now, if you’re anything like I was (think: highly caffeinated, slightly panicked, staring at spreadsheets at 3 a.m. wondering what EBITDA really means), the idea of selling your business probably feels a little like walking a tightrope over a pit of flaming contracts and tax code.
But don’t worry—I’ve been there. Actually, I lived there for six exhausting, exhilarating months. I’ll walk you through what I wish someone had told me before I dove in face-first.
Step One: Get Real About Why You’re Selling
You need to ask yourself a brutally honest question—and no, it’s not “how much money can I get?”
It’s: Why now?
In my case, burnout had crept in like a raccoon through a cracked basement window. I was still “in it” mentally, but the thrill was gone. I wasn’t pushing new ideas, just pushing paper.
Whether it’s burnout, a better opportunity, or you just want to spend more time fly-fishing in Montana (respect), be crystal clear with yourself—and eventually your buyers—about why you’re ready to part ways. It sets the tone for everything else.
Step Two: Know What You’re Selling (Hint: It’s Not Just Profits)
Here’s a hard pill I had to swallow: your business isn’t just a pile of revenue and some office furniture. It’s systems, people, processes, brand, customer loyalty… and a story.
Buyers don’t just want your numbers—they want to know your business is a machine that runs without you needing to crank the gears every morning.
So, before I even thought about listing, I documented the living daylights out of everything: SOPs, workflows, client onboarding, the works. Yes, it was a colossal pain. Yes, it paid off big time when a serious buyer said, “Wow, this looks turnkey.”
Pro tip? If you are the business (hello, solo consultants ), start grooming someone now to handle client work, or at least build repeatable packages that can survive without you playing Captain Everything.
Step Three: Valuation Is Part Math, Part Witchcraft
This part? Oh boy. I felt like a contestant on Shark Tank every time I tried to figure out what my company was worth. There are formulas (SDE, EBITDA multiples, market comps), sure. But let’s be honest—value is also about perception.
I had one buyer offer 3x my earnings and another offer 1.5x—for the same business. The difference? One saw a future without me. The other saw a job opening they didn’t want to fill.
Here’s what worked for me:
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Hired a professional valuator (worth every penny)
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Talked to brokers even if I didn’t plan to use one
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Created a killer info packet that made my business look irresistible (think: business Tinder profile, but with more spreadsheets)
Step Four: List Smart, Negotiate Smarter
Okay, here’s the part that separated the wheat from the tire-kickers. I listed through a niche marketplace, but also tapped my network hard—LinkedIn posts, quiet word-of-mouth, even a few “I might be looking for a change” chats over overpriced oat milk lattes.
Then came the calls.
Some were laughably unqualified (“Can I pay with crypto?”), and others were dangerously slick (like, Wolf of Wall Street slick).
Eventually, I landed on two legit buyers. One was all-cash, the other offered a higher price… with seller financing.
I wanted to scream into a pillow.
In the end, I chose the second deal—but only after hiring a contract lawyer who made sure I wouldn’t be left holding the bag if payments went south.
Step Five: Due Diligence Is Basically an FBI Investigation
If you’ve ever applied for a mortgage, imagine that—but on steroids and laced with legal jargon.
Buyers will dig through your books, your systems, even your Google reviews. It’s not personal—it’s just smart business.
My advice?
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Keep immaculate records (seriously, QuickBooks is your best friend)
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Be honest about any skeletons in the closet (they will find them)
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Don’t try to hide that one angry client who left you a 1-star review in 2018 (I tried. It backfired.)
I made a checklist, treated it like my business’s annual physical, and actually pre-sent due diligence docs to look proactive. One buyer said it made me “look like a seller who knew what he was doing.” I just didn’t want to get ghosted.
Step Six: After the Sale… Who Are You?
This is where it gets weird. The moment the wire hit my account, I expected to feel triumphant. Instead, I felt… lost?
You spend years tying your identity to this thing. Then one day, poof—it’s not yours anymore.
For the record, I did eventually celebrate (two weeks in Spain, a little too much sangria). But more importantly, I planned for life after the business. Whether it’s starting something new, mentoring founders, or just chilling, give yourself space to figure out who you are without the company hoodie.
Final Thoughts: You’re Not Just Selling a Business—You’re Selling Years of Your Life
Look, this process isn’t for the faint of heart. It will test your patience, your ego, your sanity. But done right, it can be one of the most empowering exits of your life.
Just remember:
✅ Know your why
✅ Prep like a pro
✅ Get the right price and the right terms
✅ Guard your peace like a golden goose
And don’t forget to take a breath. You built something valuable. Now go sell it like you mean it.
Ready for a Successful Exit?
Stick around—I’ll be sharing the exact info packet I used (redacted, of course) in my next post. Trust me, it’ll save you weeks of stress.