How It All Started: My “Maybe I’ll Sell” Moment
I didn’t wake up one morning, stretch, sip my coffee, and think, “You know what? Let’s sell the business today.” Nope. It was more like a slow burn. A mix of burnout, curiosity, and that gnawing feeling in my gut whispering, “There’s something else out there for you.”
I built my business from scratch—no fancy investors, no golden parachute. Just me, a dream, and way too many late nights squinting at spreadsheets like they were ancient scrolls. So yeah, the decision to sell wasn’t casual. It was personal. Emotional. Kinda terrifying.
But once I got serious about it, I knew one thing for damn sure: I wasn’t gonna hand over the keys for pennies. I wanted maximum value. Every drop of it.
Getting Real About Why You’re Selling
Before we get tactical, do yourself a favor and ask this one question: Why are you really selling?
For me, it was part burnout, part wanting to start something new. But I had to dig into that with brutal honesty because it shaped everything—from how I pitched the biz to buyers, to the kind of buyers I’d even consider.
Your “why” is your compass. And buyers? They can smell B.S. a mile away. So if your reason isn’t crystal clear in your own head, it’s gonna be even murkier in a due diligence meeting.
Clean Up Before You Dress Up
Let me hit you with a little tough love. You wouldn’t try to sell your car with fast-food wrappers in the backseat, right?
Your business is the same.
Before I even whispered the words “I’m selling” to anyone, I did a deep clean. I’m talkin’ financials, customer lists, operations manuals, SOPs, the whole enchilada. Why? Because the more buttoned-up your biz looks, the more attractive it becomes—and the more power you hold in negotiations.
Here’s what I did:
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Hired a CPA to comb through three years of financials.
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Documented processes like I was writing IKEA manuals (minus the cartoon men).
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Got clear on KPIs and what actually drove profit—not just revenue.
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Cut dead weight—unprofitable clients, underperforming products, even a toxic team member or two. Sorry, Brad.
Valuation: It’s Not Just Math, It’s Psychology
Okay, here’s where things get spicy.
You might think selling a business is a straight-up numbers game. Revenue minus expenses times some magic multiple equals price. Right?
Wrong.
Buyers aren’t just buying numbers—they’re buying stories. They’re buying potential. The story I sold wasn’t just “Here’s what we did.” It was, “Here’s what you can do with it next.”
I brought in a business broker (more on that circus in a second) who helped position the business as a launchpad. Not just a machine that worked, but one with momentum. That slight shift? It added six figures to the offers I got. No joke.
So yeah, get the numbers right. But also learn how to sell the story behind the numbers. That’s where the real value hides.
The Broker Dilemma: Friend or Fee Collector?
Confession time: I didn’t want to use a broker at first.
I was convinced I could do it myself. I mean, I built the damn business—who better to sell it, right? Well… turns out selling a business is like flying a plane and performing open-heart surgery at the same time.
Eventually, I hired a broker. A good one. He didn’t just list the biz and ghost me. He coached me. He grilled me. He made me redo my pitch deck five times until it was airtight.
Was the fee worth it? Hell yes. He helped me avoid tire-kickers, flagged red flags in buyer offers, and negotiated on my behalf so I didn’t accidentally say something stupid that would tank the deal. (Which I absolutely would have done.)
Moral of the story? If you’re not a professional deal-closer, get help. Just vet them like you’d vet a heart surgeon. No rookies allowed.
Building Buyer FOMO (a.k.a. the Fun Part)
You know that moment when you post something for sale and instantly regret it because crickets?
Yeah, I didn’t want that.
So instead of going exclusive with one buyer right out the gate, I lined up multiple buyers. Quietly. Strategically. The goal wasn’t to start a bidding war (though that’d be nice)—it was to create urgency.
I let them know I was talking to others. Not in a sleazy way, just enough to plant the seed: “If you wait too long, this train’s leaving the station.”
And guess what? Offers came in faster. Negotiations were smoother. And I walked away with a price that made me do a little victory dance in my kitchen.
Due Diligence: Where Deals Go to Die
If selling a business was a movie, due diligence would be the horror scene where everything unravels.
I’m not kidding—this part is brutal. Think of it like letting a stranger rifle through your underwear drawer while asking if you’re sure your deodorant works.
They’ll check:
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Your financials (duh).
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Your customer retention metrics.
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Your supplier contracts.
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Your intellectual property ownership (you did trademark your name, right?).
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Your employee agreements.
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Even your software licenses. (Yeah, that one Adobe login you “borrowed” is gonna bite you.)
My advice? Over-prepare. Get all your docs together before you list. It’ll save your sanity later.
Negotiation: Don’t Just Talk Numbers
Here’s the part that separates amateurs from closers.
I thought negotiation was all about the dollar amount. But what I learned? Terms matter more than you think.
Would you rather:
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Get $1 million up front, but pay half in taxes and walk away with $500k?
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Or take $700k over time with a smart earnout and keep more of it?
I opted for a mix—some cash up front, plus a short earnout tied to performance. Gave me a little cushion and motivation, but didn’t shackle me to the business for years.
Point is: It’s not just what they pay. It’s how they pay, when they pay, and what strings are attached. Play it smart.
The Emotional Rollercoaster (That No One Warns You About)
Let’s get real for a sec.
No spreadsheet prepares you for the moment you sign the papers and realize: This is no longer mine.
I felt everything—relief, pride, grief, even a little panic. Like, what now?
Selling your business is part numbers, part negotiation, and 100% identity crisis.
I built this thing from scratch. Watched it grow. Nursed it through recessions and team drama and that time the website went down for 48 hours straight.
Letting go was… hard.
So I gave myself space. Took a trip. Sat with the silence. Eventually, that silence became clarity. And the next adventure started whispering.
Key Takeaways: How to Sell Your Business for Maximum Value
Let’s bring it home, friend. Here’s your cheat sheet:
🧠 Get clear on why you’re selling.
Your motivation shapes everything.
🧽 Clean up your financials and systems.
Buyers want a business, not a mess.
📈 Craft a story, not just a spreadsheet.
Sell potential, not just performance.
🤝 Consider a broker (but choose wisely).
They can be dealmakers or deadweight.
⏳ Create urgency with multiple buyers.
No exclusivity until you’re ready to commit.
🔎 Prepare for intense due diligence.
Get your docs in a row now.
💸 Negotiate more than just price.
Terms, timing, taxes—play chess, not checkers.
🧘♂️ Expect an emotional ride.
It’s normal. Let yourself feel it.
Final Thoughts: You’ve Got One Shot—Make It Count
Selling your business isn’t a transaction—it’s a transition. It’s not just about what you’re walking away with, but what you’re walking toward.
So don’t rush it. Don’t wing it. And for the love of spreadsheets, don’t undersell yourself.
You built something valuable. Now make sure you walk away like the boss you are—with a full bank account, a clean conscience, and maybe even a cocktail in hand.
Cheers to your next big chapter 🍸
— A Fellow Business Owner Who Lived to Tell the Tale