Sale Readiness

1. The business could run for three months without the owner.

2. Key customer relationships are held by the team, not just the owner.

3. We have a successor or a plan for who leads after a transition.

4. Our financials are reviewed or audited and close on time each month.

5. Owner expenses and one-time items are separated and documented.

6. We can show margin by customer, product or service line.

7. No single customer is more than 15% of revenue.

8. A large share of revenue is recurring or under contract.

9. Revenue and profit have grown in at least two of the last three years.

10. Contracts, leases, licenses and IP are documented and assignable.

11. We have no open legal, tax or compliance issues that would scare a buyer.

12. Key processes are written down and do not live in one person's head.

13. We know what the business is worth today and what would move that number.

14. We know the kind of buyer or partner we want and why.

15. We have a timeline and advisors for the transition.