Selling your business is one of the biggest decisions you’ll ever make. It changes both your financial future and the direction of your life and career. Whether you're planning to retire, start a new venture, or simply want to capitalize on years of hard work, you need to approach the process with clarity, strategy, and the right support.
Here’s what you need to know before you sell your business, so you can do it on your terms, with confidence.
Why Business Owners Decide to Sell
Start by asking: why do you want to sell your business? Your reason will shape your timing, valuation goals, and negotiation stance. Common reasons include:
Retirement or lifestyle change
Burnout or stress
New business opportunities
Financial gain or exit strategy
Clarity on your motivation ensures you stay focused and make decisions that reflect your bigger picture goals.
How to Value Your Business Before Selling
Before you go to market, you need to understand what your business is realistically worth. This involves more than just looking at revenue. Consider:
Profitability and cash flow
Assets and liabilities
Client contracts and retention
Scalability and future potential
A formal valuation from a financial expert gives you a benchmark to guide offers and counteroffers. It also helps you identify any areas to strengthen before you sell.
What Buyers Want to See: Financials and Systems
Buyers want clean, reliable data. Make sure your accounts are up to date and easy to understand. This includes:
Profit and loss statements
Tax records
Contracts and leases
Inventory or asset lists
You should also review your systems. A business that runs efficiently with documented processes, clear reporting, and minimal reliance on the owner is far more attractive (and valuable) to buyers.
When Is the Best Time to Sell Your Business?
There’s no perfect time to sell your business, but there is a right time for you. Ideally, you want to sell when:
Revenue is stable or growing
Your team is performing well
You’re mentally ready to let go
Market conditions are favorable
If you sell too early, you may leave money on the table. Wait too long, and the business could decline or become harder to transfer. Your timing should align with both business performance and your personal readiness.
Protect Confidentiality
You don’t want employees, customers, or competitors to know you’re selling until the time is right. Work with advisers who understand how to market your business confidentially. Use NDAs with potential buyers and share sensitive information only when necessary.
Discretion protects your brand and ensures operations remain smooth during the sales process.
Who Should You Work With When Selling Your Business?
Selling a business is a complex process that involves negotiation, legal frameworks, tax planning, and emotional decisions. You shouldn’t do it alone.
Work with a team that may include:
A business coach or advisor
A financial planner
A tax professional
An attorney or legal expert
These professionals will help you avoid mistakes, manage risks, and maximize the outcome.
What Comes Next After You Sell Your Business?
One of the most overlooked parts of preparing to sell your business is thinking about what happens next. Once you’ve completed the sale, how will you spend your time? What will give you purpose and a sense of direction?
Whether you plan to travel, invest, mentor others, or launch a new venture, having a vision for the next chapter makes it easier to let go while making the transition feel positive.
How Business Coaching Helps
If you’re thinking about selling, a business coach can help you maximize your exit by:
One example is a young entrepreneur who worked with ActionCOACH's Nigel Wilkes. After growing a successful tutoring business, he strategically exited a portion of it and launched a new venture called BaseCloud, a Google Ads business now expanding internationally. His story shows how business coaching supports every stage of the transition. It helps prepare the business for sale, improve systems, and plan for life after the exit. He moved forward with a clear plan and the confidence to grow his next business on stronger foundations.
Strengthening weak areas of the business
Helping you document systems and delegate effectively
Improving profitability in the lead-up to the sale
Coaching you through the emotional and strategic decisions
A coach acts as your sounding board, helping you think clearly and prepare both the business and you for a successful exit.
Ready to Sell on Your Terms?
Selling your business doesn’t have to be overwhelming. When you prepare thoroughly and surround yourself with expert support, you can exit your business with confidence and pride.
If you're planning to sell your business in the next 6–24 months, start preparing today. Speak with an ActionCOACH expert to clarify your goals, strengthen your operations, and position your business for a successful sale.
Book your free consultation now and take control of your exit strategy.
Frequently Asked Questions About Selling Your Business
How far in advance should I prepare to sell my business?
Ideally, you should begin preparing at least 12–24 months before your intended sale date. This gives you time to organize finances, strengthen operations, and maximize value.
What kind of documents will I need to present to buyers?
Buyers typically expect clean financials (profit and loss, tax returns), legal documentation (leases, contracts), and information about your team, processes, and customer base.
Do I need a business coach to sell my business?
You don't need one, but working with a business coach can help you spot blind spots, prepare strategically, and improve your business’s value before you go to market.
How do I keep the sale confidential?
Work with experienced advisors who use NDAs and manage the sales process discreetly to avoid alarming staff, clients, or competitors.
Selling your business is your chance to finish strong. Let ActionCOACH help you make it count! Book your call today.
Edited from original article by ActionCOACH Global
Ruth Mbugua
May 21, 2025
