Setting the Stage: Why I Decided to Sell My Business
Let me paint the scene for you real quick.
Picture a guy sitting in a slightly too-small office chair (because, you know, ergonomics wasn’t exactly my priority) staring at his business bank account. It wasn’t empty — far from it — but something just felt off. I wasn’t jumping out of bed every morning ready to crush it like I used to. The fire? Flickering. The excitement? Kinda faded.
I was reading the blog on True Business Builders and that’s when it hit me: maybe it was time to pass the torch. Maybe it was time to sell my business.
No lie, though — the thought of actually selling my business? It terrified me. I’d built this thing from scratch, the same way you build a pickup basketball team that turns into a dynasty (at least in your own mind 😉). So how do you even start the selling process without messing it up?
Getting Real: The Emotional Rollercoaster
I’m not gonna sugarcoat it — deciding to sell a business feels a little like deciding to break up with someone you still care about. There’s guilt, second-guessing, and a weird sense of mourning before anything even happens.
Every time I opened my laptop to “do some research,” I’d end up spiraling into random Google rabbit holes:
- “How to sell a business without getting scammed”
- “Is it better to use a business broker or DIY it?”
- “What is my business actually worth (and am I biased)?”
Spoiler alert: I was very biased.
At first, I thought about selling it “casually” by floating the idea to a few competitors. You know, just a whisper here and there. Bad idea. It’s like announcing you’re retiring mid-season: it throws everyone off their game — employees, clients, even suppliers.
Lesson learned: if you’re gonna sell, do it seriously, strategically, and silently (at least at first).
The Playbook: Steps I Took to Sell Smart
Alright, so once I got my head on straight, I realized I needed an actual game plan. Here’s how it went down:
1. Valuing the Business (For Real This Time)
I worked with a valuation expert — not my buddy who “kinda knows finance” — to get an objective view of what the business was worth. They looked at EBITDA (fancy word for profit), growth potential, customer base, contracts, and all that jazz.
When they told me the number, I had two reactions:
- “Whoa, that’s higher than I thought!”
- “Wait, should I even sell now? Should I grow it another year?” (Classic overthinker move.)
But they broke it down logically: the market was hot, my sector was trending up, and waiting could be a bigger gamble than going now.
2. Prepping the Business Like It Was Going to Prom
Nobody wants to buy a messy, chaotic business. So I tightened things up:
- Organized all financials
- Streamlined operations
- Made sure all contracts and agreements were signed, updated, and ready to show
- Prepped an “owner’s manual” so the new boss wouldn’t feel like they were stepping into an episode of Survivor
It wasn’t glamorous work, but think of it like taping up your ankles before a big game: boring, but critical if you want to win.
3. Choosing a Broker Who Wasn’t Just After a Quick Buck
This was a tough one. A lot of brokers made huge promises, throwing out sky-high price tags without even seeing the books.
Eventually, I found a boutique firm that specialized in businesses my size. They weren’t flashy, but they were hungry and realistic. I vibed with that.
Their strategy? Quiet marketing to a curated list of serious buyers. No public “for sale” signs. No chaos.
4. Negotiating Like It Was Game 7
Offers came in. Some were laughable (one guy literally tried to pay half cash, half “future earnings” — hard pass).
In negotiations, it helped to remember: emotion is the enemy. Every counteroffer felt personal at first, but I kept my eyes on the scoreboard. It wasn’t about “winning” against the buyer; it was about getting the best deal for the business and for my future.
The Finish Line: Closing the Deal
I’ll never forget the moment the wire transfer hit my account. It felt surreal, like hitting a buzzer-beater from half-court… and realizing the game was actually over.
The funny thing is, selling wasn’t the “end” like I expected. It was the beginning of a whole new chapter. I took some time off, traveled a bit, invested in a few new projects (with all the cautious optimism of a guy who’d just won a championship but wasn’t ready to hang up his jersey).
Was every step perfect? Heck no. I stumbled, second-guessed, and stressed more than I care to admit.
But looking back, selling my business was one of the best moves I’ve ever made.
Key Takeaways: Selling a Business Without Losing Your Mind
- Get a real, professional valuation (don’t guesstimate).
- Prep your business like you’re handing it to your idol.
- Pick a broker who cares more about fit than fast cash.
- Keep your emotions in check during negotiations.
- Celebrate smart — the sale is a win, but the real victory is what’s next.
If you’re standing where I was — staring at your business, wondering “what now?” — know this:
You built something amazing. You can sell it smart. And your best days? They’re still ahead.
If you’re thinking about making the move, start getting your playbook ready today. Trust me, Future You will be high-fiving the heck out of Present You. 🤜🤛
Ready to start your own big exit?