Sometimes the most important part of selling your business isn't the terms of the deal. It's what happens the Monday after.
I sat down with a woman a couple years back, I'll call her Lisa, to finalize the transition plan on her company. Sixty-one years old, three decades building a manufacturing business from nothing. She'd done everything right. The right buyer, a strong valuation, a team that was ready. Everything was in place.
And right as we're about to walk through the plan, she stops. Just goes quiet for a second. Then she says, "I've spent years getting the business ready for this moment. But I'm not sure I ever got myself ready."
I've heard some version of that more times than I can count. Founders pour everything into the financial and operational side of a sale, the stuff with deadlines and dollar signs, and somehow the person in the middle of it all gets left out of the planning entirely.
So here's what I walk through with everyone before they step away. Three things, and only one of them is about the business.
First, can the business actually run without you? This is the one founders usually have handled, or think they do. Buyers want to know the company doesn't live or die on your daily involvement. That means your key processes are written down instead of living in your head, your leadership team can actually make decisions without calling you, and your books are clean enough to survive due diligence without a story attached to every line. Lisa already had a strong team. But she went further and spent months mentoring her COO to take over the relationships and the big calls. That move did two things. It reassured the buyer, and it gave Lisa the quiet confidence that she wasn't leaving a mess behind.
Second, and this is the one nobody preps for, what are you actually going to do next? Selling a business isn't just a transaction. It's a life event. For thirty years you knew exactly who you were the moment your feet hit the floor. Then one day that's just gone...
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The two questions most founders never ask before they sell, the bridge that kept Lisa from falling off a cliff, and what a good transition is actually measured by. Drop your email and I'll send you the full piece, plus a new decision every Wednesday.
Insights, advice, and comments provided by RJ Finley and members of the Decidedly Wealth Management team should not be considered personalized financial advice or recommendations. This content is produced solely for informational and educational purposes. For personalized guidance, book a free conversation.
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