Example: Quillmere Business Advisors

What owners wish they'd done before selling

Subject: What owners wish they'd done before selling

Most owners think about selling once, near the end. This week our managing broker sat down with a longtime adviser to talk about the years before that, and what tends to make a sale go smoothly.

Clean books come first. Buyers and their lenders want to understand the numbers quickly. Owners who keep tidy, consistent records usually spend less time answering questions later.

The business should run without you. If every customer relationship and decision runs through the owner, buyers see risk. Writing down how things work and letting a manager own more of the day-to-day helps.

Know what buyers ask about first. Customer concentration, key staff, leases and contracts come up early in almost every conversation. It helps to have answers ready.

Start the conversation early. A confidential talk years ahead costs nothing and gives an owner time to fix things on their own schedule.

If you're thinking about the next few years, reply to this email and we'll set up a confidential conversation. No pressure, and nothing is shared without your OK.

Getting a business ready to sell starts years early

Many owners decide to sell after a hard year, a health scare or a good offer out of the blue. By then, there is little time to prepare. That is why the owners who have the smoothest exits often started thinking about it long before they listed.

Preparation is mostly unglamorous. It means keeping records a buyer can follow, reducing how much the business depends on the owner, and knowing which questions will come up first. None of it has to happen at once, and most of it makes the business better to run in the meantime.

If you are a few years out, the best next step is a confidential conversation about where things stand today. It costs nothing and commits you to nothing.