Introduction: Why selling often goes wrong

Selling your business is no ordinary business decision. It is the end of years of construction, personal sacrifices and strategic choices. But despite the emotional burden and the financial weight, many entrepreneurs enter the process unprepared.

The result? Delay, dropping buyers, lower bids, or even a failed deal. Market analyses of SME acquisitions show that the same three mistakes recur time and time again.

Mistake 1: Improper preparation or valuation

Many entrepreneurs see the sales process as a sprint, when in reality it is a marathon. A buyer wants insight into financial performance, growth potential and risks, and if that information is messy, incomplete or unclear, it immediately creates distrust.

Typical signs of inadequate preparation:

• Financial statements and management reports are not up to date.
• There is no clear overview of contracts, current obligations and property rights.
• The valuation is based on “feeling” instead of substantiated calculations.

Consequence: The buyer drops out, or offers considerably less.

Solution: Start an independent valuation 1.5 to 2 years before the scheduled sale and set up an internal “sales file” with all relevant information. This speeds up the process and gives confidence.

Mistake 2: Being too dependent on the owner

A buyer wants to take over a company, not a job. If all the crucial knowledge, customer relationships and operational decisions lie with you as the owner, the risk for the buyer is high.

In many SMEs, the entrepreneur is still at the center of everything: from sales to production, from purchasing to HR. This is understandable during the construction phase, but disastrous when selling.

Risks for the buyer:

• Sales and profits can fall as soon as the owner leaves.
• Employees and customers are loyal to the entrepreneur, not to the company.
• Integration and continuity are becoming uncertain.

Solution: Build a self-managing team, document processes and make yourself obsolete step by step. A company that runs just as well without you is more attractive and more valuable.

Mistake 3: Ignore the wrong timing and market conditions

Even the best-prepared company can have trouble finding buyers if the timing is unfavorable. Economic cycles, interest rates, sector developments and political decisions all play a role.

Many entrepreneurs only focus on their internal results and forget that external circumstances sometimes have a greater impact.

Examples of bad timing:

• Selling during a period of rising interest rates, making financing more expensive.
• Sales just after a major sector crisis or a sudden drop in turnover.
• Sell when the market is saturated or demand for the product decreases.

Solution: Actively follow market developments and get advice on the right time. Sometimes waiting a year is better than selling now with concessions.

How do you prevent these errors?

Checklist for a sale-ready company:

1. Start on time — At least 18-24 months of preparation.
2. Be appreciated — By an independent specialist, and repeat this annually. This will soon be possible via our platform!
3. Build in portability — Let processes, systems, and teams function without you.
4. Monitor the market — Keep track of economic signals and sector trends.
5. Call in experts — your accountant, tax specialists and lawyers prevent costly mistakes.

Time for action?

Selling your company is probably the most important transaction of your entrepreneurial life. Don't make a rush out of it and make sure you avoid the pitfalls that occur so often.

👉 Sign up for the BestBonobos beta today and discover how our platform helps you with valuation, sales preparation and finding the right buyer.

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