Successful sale of a company: How to prepare your company and yourself for an exit

Selling a company is one of the biggest moments in a founder’s life. It’s not just about numbers – it’s about how you handle the process mentally, organizationally, and strategically. A successful exit starts long before the first buyer appears. The key question is: Are you truly ready to sell?

If you’re unsure, wait

First things first: make sure all key stakeholders are aligned – owners, management, employees, suppliers, and even key clients. If anyone is out of sync, the process gets messy fast. Selling a company is a big life change, so it’s crucial to prepare not only the business but also yourself. Have a clear vision of what you’ll do after the sale. Mental preparation and gradually stepping back are key – not just for a smooth transition, but also to make smart decisions during the sale. Your vision sets the pace of the entire process.

Seeing your business through the buyer’s eyes

A successful seller can look at their company from the buyer’s perspective. Founders caught up in daily routines and personal relationships often miss weaknesses or blind spots. Are your processes up to date? Is your team structured for growth? If you don’t assess this yourself, the market will – and buyers will give you a harsh reality check.

By asking yourself,“If I were buying this company…”, you maintain control over its perceived value and minimize surprises that could lower the price or delay the sale.

The superpower of pre-due diligence

Before any official due diligence, we recommend doing a thorough internal audit – what we call pre-due diligence. Investing time here always pays off. A well-prepared company makes the official process faster, smoother, and often more valuable. The goal? Identify potential issues, fill gaps in documentation, and make your business fully transparent.No skeletons in the closet.

Pre-due diligence usually covers:

• Review of contracts with clients, suppliers, and employees.

• Corporate housekeeping, including approved and published financial statements.

• Intellectual property – are you sure everything is really yours?

• Liabilities, receivables, and tax obligations.

• Overview of internal processes.

What happens before the sale?

1️⃣ What are you selling?

Be crystal clear: are you selling shares, a business stake, or assets? And what is the real value of your company?

2️⃣ Who could be interested?

Identifying potential buyers isn’t always obvious. First, we define buyer types with strategic interest or capacity to invest. This usually produces dozens of potential companies.

3️⃣ Market research and outreach

We refine the list into a long list of dozens of serious prospects.

4️⃣ Initial conversations and non-binding offers

Longlist screening, outreach, calls, meetings, and emails – it would be a full-time job for an owner. We aim to narrow it down to a shortlist of about ten serious prospects, bringing in lawyers where needed.

5️⃣ NDA and due diligence

Sensitive company data is shared only after signing a Non-Disclosure Agreement (NDA). Then comes comprehensive due diligence.

Due diligence: letting external auditors in

Due diligence (DD) is an in-depth inspection by the buyer, often lasting several days. They’ll review every corner of the business – legal, financial, tax – looking for risks or gaps. If you’ve already done pre-due diligence, this step becomes much smoother.

The DD process typically includes:

• Gathering all relevant information

• Analyzing the current state

• Producing a report with recommendations

• Addressing any discovered risks

Common pitfalls we see:

• Disorganized contracts with employees, contractors, and creatives, especially regarding IP.

• Illegal employment (e.g., mismanaged contractors).

Negotiating terms and closing

Once DD is complete, negotiations begin: price, payments, guarantees, liability, and assignment of contracts and assets. Every detail matters. Clear communication and prepared arguments are crucial.

Typical negotiation points:

• Liability caps and retention mechanisms

• Time or financial limits on guarantees

• Transfer of employees, know-how, and company operations

• Non-compete and non-solicitation clauses

Post-closing: Keeping the company stable

After the deal closes, it’s important to ensure the company keeps running smoothly. Often, founders or key managers stay involved temporarily to support the transition, share know-how, and maintain team motivation.

Practical recommendations

✅ Have a clear vision for yourself post-sale and align stakeholders.

✅ See your business through a buyer’s lens.

✅ Conduct a thorough internal audit.

✅ Prepare complete documentation and close gaps.

✅ Collaborate fully during due diligence.

✅ Set clear rules for guarantees and liability in negotiations.