Shark Report - The Ultimate High-Stakes Moment: Selling Your Business

You’ve decided to sell your business.  You have put your heart and soul into this business, whether it’s to a family member, management or an independent buyer, selling your baby is tough.  Business owners face many critical decisions in their lifetime. But there’s one decision unlike any other: selling the business you’ve poured your time, money, and heart into.

This business isn’t just your livelihood — it’s their largest financial asset and the cornerstone of your identity. A business sale is not just a transaction. It’s a once-in-a-lifetime, high-stakes moment. 

 

Why Preparation Matters. 

When it comes to selling you do not want to bring a knife to a gunfight.  Selling your business can be a gunfight.  One of my last transactions, the international buyer hired one of the largest firms in the world. On one call there were twelve lawyers sitting across the table from me. My client? A privately held business owner — just like you. The difference between walking away with a “fair” deal or a life-changing premium came down to preparation, experience and strategy. 

After closing, my client said,

“Jeff, I knew you were a good attorney, but I didn’t realize you were a bad ass lawyer.” 

We had to stand them down on several fronts – and we did.

 

Common Owner Mistakes.

• Waiting for the perfect time. Never a perfect time.  Illness, market shifts, or buyer timing can erase opportunities.
• Treating it like routine. This isn’t just another contract — it’s the defining transaction of your career.
• Focusing only on the numbers. Buyers don’t just pay for past performance; they pay for a story of future value. To the extent you can demonstrate consistent, predictable growth you will get a premium.  Some will pay a premium for that strategic piece or opportunity they need to take full advantage of their existing business.
• Choosing the wrong buyer. Not all offers are equal — strategic buyers often pay more, if you’ve positioned well.

The good news? Owners who prepare, position, and plan for the future have the leverage to win — even against the biggest players.

Smart Move for this Month.

Start by getting your house in order.

• Polish your financials.
• Clean up your contracts and corporate books.
• Clarify your story.
• Sketch what life after the sale should look like.

 

These steps can help separate the average deals from the extraordinary ones.

I’ll be digging deeper into this in the kickoff episode of my new podcast coming soon:

The Owner’s Odyssey: Navigating the Greatest Journey of Your Life.

Drop me a line for a simple checklist: Top 5 Questions to Ask Before You Sell.

When the high-stakes moment arrives, don’t rely on luck – make your biggest deal your best deal. You want to be ready to make your biggest deal your best deal.