Becoming Market Ready

Selling your business is a big deal, but the process doesn’t happen overnight. It’s not just about slapping a “For Sale” sign on your door and hoping for the best. Preparing your business for sale is about making sure it’s attractive, stable, and ready to operate without you. This week, I’ll be diving into how you can become market-ready, no matter where you are in your scaling journey.

You’ve put the hard work in, but now it’s time to think about your exit strategy. The truth is, positioning your business for a sale requires foresight, strategy, and a bit of elbow grease. So, let’s talk about what makes a business truly ready for the market and how you can start setting the groundwork today.

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Editor's Thoughts

The first thing to recognise is that selling a business isn’t just about the numbers, it’s about the potential. Buyers are looking for businesses that they can take over without having to reinvent the wheel. What does that mean for you? It means you need to ensure that your business can stand on its own two feet without being dependent on you, your expertise, or your relationships.

One of the biggest mistakes I see founders make is waiting until the last minute to get things in order. When you’re preparing for an exit, it’s crucial that you start early. Think of it like planning a house sale – you wouldn’t wait until the day of the viewing to clean and tidy, would you? No, you’d take the time to spruce things up well in advance.

In my experience, businesses that are well-prepared for sale don’t just have clear financials. They have systems in place, reliable teams, and a product or service that is already delivering consistent value. This is what attracts buyers. They’re not just buying a company; they’re buying the future potential of that business.That’s the kind of value that attracts serious buyers and sets you up for a successful sale.

Getting Your Business Market-Ready: How to Sell with Confidence

Selling your business isn’t just about finding a buyer, it’s about making your business so attractive that buyers compete for it. The goal? A smooth-running, self-sustaining, high-value asset that doesn’t require you to be in the driver’s seat.

To make this happen, let’s walk through the "Market-Ready Framework". A proven four-step approach to getting your business in top shape before an exit.

Step 1: Financial Clarity – No More Messy Books!

Numbers don’t lie, and serious buyers will scrutinise every detail of your financials. If your books look like a puzzle with missing pieces, expect lower offers - or worse, no offers at all.

What to do:

• Ensure clean, up-to-date financial records (revenue, expenses, tax returns, profit margins).
• Separate business and personal finances (no "business lunch" receipts for your weekend brunch).
• Show at least three years of strong financial performance to demonstrate stability.
• Work with an accountant or financial advisor to create a due diligence package—buyers love transparency.

Pro Tip:

If you’re looking for a premium sale price, focus on EBITDA growth (Earnings Before Interest, Taxes, Depreciation, and Amortisation). Businesses with strong EBITDA command higher valuations.

Step 2: Systemise Everything – A Business That Runs Without You

If your business can’t function without you, it’s not a business, it’s a job. And buyers don’t want to buy your job. The more your business operates on its own, the more valuable it becomes.

What to do:

• Document Standard Operating Procedures (SOPs) for all key processes (onboarding, customer service, sales, etc.).
• Automate repetitive tasks using tech tools like CRMs, email automation, and project management software.
• Delegate key roles and responsibilities to a strong management team so day-to-day operations don’t depend on you.

Pro Tip:

Use the McDonald’s Model. If a teenager can follow a system and make a Big Mac exactly the same way every time, your business should have repeatable systems that anyone can follow.

Step 3: Diversify Your Revenue Streams – Don’t Put All Your Eggs in One Basket

A business that relies on one major client or a single revenue stream is a huge red flag for buyers. Diversification reduces risk and makes your business more stable.

What to do:

• Expand your customer base (no single client should account for more than 20% of revenue).
• Introduce new revenue streams—subscription models, digital products, or complementary services.
• If you’re product-based, consider expanding into different markets or sales channels (wholesale, e-commerce, international sales).

Pro Tip:

Subscription-based businesses or those with recurring revenue models (SaaS, memberships, retainer services) often get higher valuations because of predictable income.

Step 4: Empower Your Team – The Less You’re Needed, the Better

A business that is founder-reliant is a dealbreaker for many buyers. If they feel they can’t run it without you, they’ll either walk away or negotiate a lower price.

What to do:

• Develop a leadership team that can take over key responsibilities.
• Identify and train an Operations Manager or General Manager who can run the show.
• Create an org chart that shows clear roles, responsibilities, and decision-making structures.

Pro Tip:

Use the "Vacation Test"and take a 30-day break with zero involvement in the business. If it still runs smoothly, you’ve passed!

Build to Sell (Even If You’re Not Ready to Sell Yet!)

Even if selling isn’t in your immediate plans, building a business that’s market-ready makes it stronger, more profitable, and less stressful to run. When the time comes to exit, you’ll be in the best possible position to get top dollar.

If you’re thinking about selling in the next few years, start today! The better prepared you are, the easier it will be to attract the right buyers and negotiate a sale that reflects the true value of what you’ve built.

The Exit Accelerator Program

As a service business owner, you might be wondering: Is now the right time to exit? You’ve built something incredible, but how do you ensure you maximise its value when the time comes to sell? That’s where I come in.

Through The Exit Accelerator, I’ll help you strategically position your business for the best value, find the right buyers, and ensure a smooth transition for your team and clients.

If you’re thinking about your business's future and what comes next, let’s talk. Whether you're ready to exit now or down the road, I’ll guide you every step of the way.

Schedule Your Free Session Here

Book of the Week

Walk Away Wealthy: The Entrepreneur’s Exit-Planning Playbook Mark M. Tepper

Selling your business isn’t just about cashing out. It’s about cashing out smartly. In Walk Away Wealthy, Mark Tepper breaks down the essential steps to maximise your company’s value, avoid common selling pitfalls, and ensure you walk away with the wealth you’ve worked so hard to build.

Key takeaway?

Most business owners leave millions on the table because they don’t plan their exit properly. This book gives you the strategies to avoid that mistake. If you're serious about selling, this is a must-read.

"A business that isn’t built to be sold isn’t built to succeed."

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Recap

Getting market-ready is an ongoing process, but it’s one that can pay huge dividends when the time comes to sell. Start now – don’t wait until the last minute. The stronger your business is, the more attractive it will be to buyers, and the better the deal you’ll secure.

I’ve walked this path before, and trust me, it’s worth investing the time to get things right. Whether you’re planning to sell in the near future or simply want to ensure your business is as valuable as possible, start working on becoming market-ready today. It’s your ticket to a smooth, profitable exit.

Next Week

I’ll be diving into growing your wealth through smart investments and I will be sharing tips on how to make your money work for you. Whether it applies to you as an individual or your business, you wouldn't want to miss the next edition!

To your unstoppable success!

Writer, The Success Method

P.S. Have you started preparing your business for sale yet? Let’s chat about how you can get started today