Five Common Mistakes Business Owners Make When Selling

Selling a business is a once-in-a-lifetime transaction for most owners — which means most owners are doing it for the first time, with no do-overs. A few avoidable missteps can cost you real money, or the right outcome altogether.

1. Waiting too long to plan. The best sales start two to three years before the actual transaction, not two to three months.

2. Not knowing your number — or your buyer. Owners often fixate on valuation and overlook whether a buyer will actually preserve what they built.

3. Mixing personal and business finances. Commingled expenses make due diligence painful and can spook buyers.

4. Overestimating buyer pools. Many owners assume there's a long line of qualified buyers. In reality, finding the right fit takes real search and vetting.

5. Going it alone. Without experienced advisors, owners often leave value on the table or agree to unfavorable terms.

None of these mistakes are fatal if caught early. The key is starting the conversation before you're under pressure to sell.

If you're beginning to think about your exit — even years out — reach out to Promontory Capital Holdings. We're happy to help you think through the process, no obligation required.