Common Problems & Solutions When Selling a Business Without Being Ready. FAQ

Problem: “I never thought about leaving, let alone how!”
Solution: It’s never too late to create an exit strategy. Start by identifying what you want: a quick sale, a legacy continuation, or maximum profit. Work with an advisor to craft a realistic plan tailored to your goals and timeframe.

Problem: “I know it’s great… but I don’t know how to explain why.”
Solution: Define and articulate what makes your business unique. Whether it’s your market share, intellectual property, or loyal customer base, spell it out. Buyers need to see why your company is worth their investment.

Problem: “Uh… well, profits are coming soon, I promise!”
Solution: While profitability is ideal, it’s not the only factor buyers consider. Highlight other assets like growth potential, strong customer relationships, or valuable intellectual property. If time allows, focus on improving profitability before listing.

Problem: “It’s easier if I just do it all.”
Solution: A business that depends entirely on the owner is less attractive to buyers. Start building systems, processes, and a capable team that can function without you. This adds value and reassures buyers of stability post-sale.

Problem: “I’ll just hand them the keys and wish them luck!”
Solution: Yes, it matters. Create a plan to help the buyer seamlessly take over. Offer training, introductions to key stakeholders, and a clear operational guide. A smooth handover can make the deal much more appealing.

Problem: “Everyone loves retro, right?”
Solution: An outdated brand can signal stagnation to buyers. Invest in a refresh before selling—modernize your website, polish your messaging, and ensure your business looks ready for the future.

Problem: “I rely on two big clients to keep us afloat.”
Solution: Yes, it’s a red flag. Work on diversifying your revenue streams and securing longer-term contracts with various clients. Buyers want stability, not risk tied to a single point of failure.

Problem: “Wait, I owe taxes after selling?!”
Solution: Absolutely! Consult a financial advisor or tax specialist to understand the implications of the sale. Proper planning can help you maximize after-tax proceeds and avoid unpleasant surprises.

Problem: “If it ain’t broke, don’t fix it!”
Solution: It might not be broken now, but buyers will scrutinize your equipment, systems, and facilities. Investing in updates before selling shows pride in your business and makes it more attractive.

Problem: “I figured they’d figure it out.”
Solution: Big issue. Buyers want assurance that capable leaders will remain after the sale. Identify and groom key employees who can step into leadership roles or stay on to support the transition.

Problem: “I want to sell, but I’m just not sure…”
Solution: Take time to reflect on your motivations. Talk to trusted advisors or mentors to clarify your goals. If you’re hesitant, consider options like partial sales or retaining equity to ease into the transition. Selling doesn’t have to be all-or-nothing.