Blog

Look, I’ve been around the block enough times to know that most folks don’t start a business thinking about how they’re gonna leave it. But here’s the deal: if you’re not planning your exit from day one, you’re basically flying blind with a full tank of gas and nowhere to land.

I learned this the hard way, friends.

Why Your Exit Strategy Matters More Than You Think

Twenty years ago, I thought I’d run my operation until they carried me out feet first. Turns out, life had other plans. My back gave out, the market shifted, and suddenly I’m sitting there at 3 AM wondering what the hell my next move was gonna be.

That’s when it hit me. Not having an exit strategy isn’t just bad planning, it’s leaving money on the table and stress on your shoulders.

The Real Talk About Timing Your Exit

Here’s what nobody tells you about selling a business: timing is everything, and you’ve got way less control over it than you think. The perfect time to sell is usually about two years before you actually want to.

Why? Because getting a business ready to sell takes forever. You need clean books, solid systems, and ideally some growth trajectory that doesn’t depend entirely on you showing up every single day.

I’ve watched too many good people wait until they were burned out, sick, or desperate. That’s when buyers smell blood in the water and your valuation tanks.

Three Exit Strategies That Actually Work

Let me break down the main paths I’ve seen work for real people, not just the stuff you read in business school textbooks.

Selling to a competitor or strategic buyer is probably your best bet for maximum payout. These folks already know your industry and see value in your customer list, your processes, or just getting you out of the market. The downside? They’re gonna nitpick everything during due diligence.

Employee or management buyout keeps your legacy intact and usually feels good in your gut. You’re handing the keys to people who already love the business. Just don’t get sentimental about the price, that’s how you end up with a deal that falls apart three months in.

Private equity or investor groups can write big checks, but they’re looking for specific metrics and growth potential. If your business isn’t already running like a machine, this probably isn’t your play.

Getting Your House in Order

You want the truth? Most small businesses aren’t ready to sell, even when the owner thinks they are.

Your books need to be cleaner than your grandmother’s kitchen. I’m talking reconciled accounts, documented processes, and financial statements that don’t look like you threw darts at a spreadsheet.

Start working with a real accountant (not your cousin who took a QuickBooks class) at least two years before you want to exit. Get everything organized, formalized, and honestly, a little boring. Buyers love boring because boring means predictable.

The Emotional Side Nobody Warns You About

Here’s where it gets weird. Selling your business feels like sending your kid off to college, except your kid is made of spreadsheets and stress ulcers.

I had a buddy who backed out of a sale three times because he couldn’t let go. Each time cost him money and credibility. By the time he finally sold, his business was worth 30% less than the original offer.

You’ve got to deal with your emotions before you get to the negotiating table. Talk to someone, whether that’s a therapist, your spouse, or another business owner who’s been through it.

Building Value Before the Sale

The best time to increase your business value was five years ago. The second best time is right now.

Focus on things that make your business valuable to someone else. That means systems over heroics, documentation over institutional knowledge stuck in your head, and customers who stick around because of your service, not just because they like you personally.

I increased my valuation by 40% just by documenting my processes and training my team to handle things I used to do myself. Turns out buyers will pay more when they don’t have to worry about the whole thing falling apart the day you walk out.

Your Next Move

Stop putting this off. Seriously.

Grab a coffee, sit down with a legal advisor and a financial planner who specialize in business exits, and start mapping out your strategy. Even if you’re not planning to sell for another decade, having a plan changes how you run your business today.

And that, my friends, is how you turn years of hard work into the payday you actually deserve. 💰

Look, I’ve been around the block enough times to know that selling a business isn’t like posting your old couch on Facebook Marketplace and calling it a day. When I first decided to sell my company a few years back, I thought I had it all figured out. Spoiler alert: I didn’t.

The whole thing was way more complicated than I expected, and I learned pretty quick that where you list your business makes all the difference between getting serious offers and entertaining a parade of tire-kickers who have no idea what they’re doing.

Why Your Listing Platform Actually Matters

Here’s the thing nobody tells you upfront. Not all business-for-sale platforms are created equal, and some are straight-up packed with people who aren’t ready to pull the trigger. I wasted three months fielding calls from folks who wanted to “learn about entrepreneurship” instead of actually buying anything.

The right platform connects you with buyers who have their financing lined up, understand your industry, and aren’t going to waste your time asking questions they could’ve Googled in five seconds.

The Top Places to List Your Business

After my initial fumble, I got smart and started diversifying where I listed. Here’s what actually worked:

Business broker websites turned out to be gold. These sites attract people who are actively hunting, not just browsing. The buyers there tend to be more sophisticated and understand that you’re not giving away a profitable operation for pennies.

Industry-specific marketplaces were another game-changer for me. If you’re selling a restaurant, list it where restaurant buyers hang out. Tech business? Hit up the tech-focused platforms. This sounds obvious now, but I didn’t think of it initially because I was too close to the problem.

Your own network is honestly underrated. I put the word out through my accountant, lawyer, and even mentioned it at a chamber of commerce meeting. One of my most serious offers came from a guy who heard about it from his financial advisor, who happened to know my CPA.

Online Marketplaces Worth Your Time

The big online business-for-sale platforms have their pros and cons. BizBuySell is basically the 800-pound gorilla in the room, tons of traffic, lots of eyeballs on your listing. I got a steady stream of inquiries there, though you’ve gotta filter through the noise.

Flippa works great if you’re selling something digital or online-based. Trying to sell a brick-and-mortar there? Good luck, that’s not really their crowd.

Working With Business Brokers

I’ll be real with you, brokers get a bad rap sometimes, but a good one is worth every penny of their commission. They’ve got access to qualified buyer lists that you’ll never find on your own, and they handle all the awkward money conversations so you don’t have to.

My broker screened out about 90% of the inquiries that would’ve driven me crazy. He made sure everyone who got through to me had signed an NDA, submitted proof of funds, and actually understood what they were looking at.

Don’t Sleep on These Strategies

Private equity firms and competitors in your industry might be interested even if they’re not actively shopping. Send some feelers out through your attorney. Sometimes the best buyers aren’t even looking until the right opportunity lands in their lap.

Local business associations and trade publications can also be surprisingly effective. I know a guy who sold his HVAC company through an ad in an industry magazine, the buyer had been looking to expand into our region and found him there.

What Makes Buyers Take You Seriously

Beyond where you list, how you present your business matters big time. Clean financials, organized documentation, and a realistic asking price based on actual valuations, not what you hope someone will pay because you’ve got emotional attachment to the place.

I learned this the hard way when my first asking price was about 30% too high based on my “sweat equity” and feelings. The market doesn’t care about your feelings, trust me on that.

Final Thoughts

Selling a business is weird, stressful, and kinda exciting all at once. The key is getting your listing in front of people who are ready to buy, not folks who are just kicking tires or living out their entrepreneurial fantasies without any capital.

Cast a wide net across multiple platforms, work with professionals who know what they’re doing, and be patient. The right buyer is out there, they just need to find you first.