How to Avoid Costly Mistakes When Selling Your Business

Selling your business is not a fire drill — it’s a process. Rushing the deal almost always means leaving money on the table. When you do it right, you don’t just sell fast — you sell smart. That’s what gets you the best price, the best buyer and the peace of mind you’ve earned.

Here’s what smart sellers do differently…

Patience Pays. Rushing Kills Deals.

Buyers can smell desperation. They notice when your books are messy, your staff’s nervous, and your asking price feels like a dartboard guess.

If you sprint to sell, expect two things:

  • Lower offers
  • Fewer serious buyers

Every good deal takes time. Buyers need to line up financing, verify numbers and feel confident they’re not buying a dumpster fire. SBA loans alone take 60–90 days. If you’re not ready, they walk.

Preparation Is the Shortcut 

Most owners think speed = skipping steps.
Wrong.
Speed comes from preparation.

  • Clean up your financials
  • Get your SOPs in order
  • Fix legal or tax messes
  • Know what your business is worth — not what you want — what the market says.

If your books look like a shoebox of receipts and your P&L is a “rough guess,” you’re not ready. Want top dollar? Make your business look like a business, not a hobby with payroll.

Don’t Shrink Your Buyer Pool by Being Impatient

When you rush, you limit who can buy.

Only cash buyers or discount hunters show up. The real buyers? They need time time to do due diligence time to get SBA financing time to bring in their partners.
And those are the buyers who pay fair market value or above. 

If you want multiple offers, better terms, and a bigger check at closing—give the process time to work.

The Deal Structure Is Where the Real Money Is Made (or Lost)

Most rookie sellers focus on price.
Pros focus on terms.
That’s where 80% of the risk lives.
If you rush into a deal and skip smart negotiations, here’s what happens:

  • You end up with a massive earn out you’ll never collect
  • You get stuck holding a note with no security
  • You walk away with less than you think after taxes, debt and clawbacks

Take the time to structure the deal right. Work with a real broker. Get advice. Be picky.
A great deal is price AND terms. Don’t chase one and forget the other.

The Bottom Line

The best deals go to owners who slow down, prepare properly and work with pros.
If you’re thinking about selling and want to get it right the first time, don’t guess.

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