Introduction

For years, the demands of ownership leave little time to think about what comes afterward. Although selling a business may be one of the most important financial decisions you ever make, it is often little more than a passing thought—not a plan.

Who has time to think that far ahead?

How companies are bought and sold continues to evolve. Today, successful small and medium-sized businesses attract attention from buyers that may not have existed a generation ago.

My wake-up call came during a Vistage peer group meeting, when a speaker spoke about regrets owners often carry after selling their businesses—missed value, poor preparation, and outcomes that fell short of what was possible.

I knew that could be me.

The company was doing reasonably well, but I could see a future where years passed and little changed. If that happened, the regrets would be my own.

When I returned to the office, I engaged a local firm to value the business. The results were sobering.

From that point forward, I developed a new plan—to build a business with greater value—one worth selling.

Everything had to align with that plan.

What I did not fully appreciate at the time was how closely those improvements aligned with what buyers were seeking. We were focused on building a better business. The impact on value became clear later.

You can be more intentional.

This book is for business owners, founders, CEOs, and members of family businesses at any stage of the journey.

When the opportunity to transition or sell your business finally arrives, it may come with little warning. Until then, you do not know when it will happen, how the process will play out, or who will eventually be sitting across the table.

The decision becomes even more complicated when the business is family-owned and operated. Should the company remain in the family? Does the next generation truly want the responsibility—and are they prepared to lead it?

Preparation does not begin when you are ready to sell your company. To get it right, it begins years before that.

After many years in a family business, I reached a point where I became serious about selling it. For a long time, the focus was simply on getting by. We were building something new, learning through setbacks, and figuring things out as we went. It took years before the company was not just doing well but breaking through to a level of performance we had been working toward for a long time.

Looking back, I do not see those years as wasted. I see them as necessary pressure—tough, teachable periods that forced change, built resilience, and strengthened the foundation the company would later stand on.

If you sell your business, you may find yourself negotiating with buyers who know more than you—a lot more. Not about your company or your industry, but about how deals are structured, negotiated, and won.

This book will help level the playing field, giving you the knowledge and perspective needed to make better decisions, negotiate more effectively, and maximize the opportunities in front of you.

That is where we begin: by understanding private equity—the most demanding buyer out there—and how it works.