1. What do you want from the sale?
Retirement, less day-to-day responsibility and support for the business’s next stage can lead to different priorities. Write down what matters most to you, including timing and the outcome you want for yourself.
2. What role would you like afterwards?
Consider whether you want a defined exit, a handover period or an ongoing role. Think about responsibilities as well as time: which decisions would you want to retain, and which would you want someone else to take on?
3. How much does the business depend on you?
Look at customer relationships, staff decisions, technical knowledge and daily approvals. Understanding where the business relies on you helps identify what needs to be transferred, documented or supported during a handover.
4. What must a future owner understand?
Financial statements tell part of the story. Customer expectations, team experience and operating constraints matter too. Identify the relationships and working practices that a new owner needs to understand before changing anything.
5. What do you need to assess a proposal?
Look beyond the headline price to payment arrangements, conditions, your ongoing obligations and the proposed transition. Involve your advisers and allow time to work through the details.
Prepare a short introduction
Begin with what the business does, why you are considering a sale and your preferred timing and future role. Agree confidentiality arrangements before sharing sensitive information. You do not need every answer before starting a discussion.