I share practical tips, ideas, and real-world lessons to help business owners successfully sell their businesses.

After more than 45 years of buying, fixing, growing, and selling companies, I've learned that business sales don't have to be complicated. Most owners already have enough on their plate without needing a dictionary to understand the advice.

What Really Improves Your Chances of Selling Your Business (Hint: It’s Not Luck)

I’m often asked by business owners who are thinking about selling their businesses what they can do to improve their chances of success.

The honest answer? Quite a lot.

The less honest—but shorter—answer? “It depends.”

It’s tough to cover everything required for a successful sale in one blog post, so instead I’ll focus on a few key areas that often fly under the radar. These are the things that quietly derail deals while everyone is busy obsessing over price.

1. The Story (Yes, Your Business Has One)

   
   

Business owners need to do a better job of understanding why a buyer would be interested in their business in the first place.

Buyers aren’t just purchasing equipment, inventory, and a lease—they’re buying a future version of themselves. Your job is to help them clearly envision:

How they step into the business

How they succeed

How they become the hero of the next chapter

If a buyer can’t imagine themselves running the business successfully, the conversation usually ends right there—politely, but quickly.

2. Understanding the Selling Process (Reality Check Required)

   
   

I’m often amazed at how many business owners contact me assuming their business will sell. Not if—but when.

Here’s the cold splash of reality:

The sale of a business is not a forgone conclusion.

In fact, less than 50% of businesses that enter the marketplace will sell. Many factors come into play—financing, profitability, pricing, planning, and buyer quality, just to name a few.

Selling a business is a process, not a lottery ticket.

3. Buyers: Not All Inquiries Are Created Equal

   
   

There are two types of buyers, and understanding the difference will save you a lot of time—and frustration.

Unserious Buyers (About 95%)

These make up the vast majority of inquiries. They love the idea of owning a business but haven’t given much thought to:

Financing requirements

Down payments

Cash flow realities

Or what lenders expect

This group often includes competitor “tire-kickers” and business brokers poking around because their own buyer cupboard is bare.

They aren’t bad people. They’re just not buyers.

Serious Buyers (The Other 5%)

These buyers are financially qualified, motivated, and capable of getting a deal done. What many business owners don’t realize is that these buyers usually have plenty of options.

That means your business isn’t competing with fantasy buyers—it’s competing with other real, viable businesses.

4. Planning (The Least Exciting, Most Important Step)

   
   

Poor planning usually produces no results at all—except disappointment.

I’m often surprised when a business owner tells me they don’t see value in planning something as important as the sale of their business. This is usually the largest financial transaction of their life… yet planning is treated as optional.

After 45 years in the business-selling industry, I know with 100% certainty: The more time and effort put into planning a sale, the better the chances of success.

No shortcuts. No exceptions.

5. Pricing (Emotion Doesn’t Get Approved by the Bank)

   
   

There’s a lot of misinformation about pricing—online, from friends, and from financial professionals who have never actually sold a business.

I fully appreciate the emotional investment business owners have in their companies. Years of hard work, long hours, and personal sacrifice matter.

Unfortunately, lenders don’t care about any of that.

They care about math.

A selling price must be supported by facts, not hearsay.

Most lenders look for two things:

1. The three-year average profitability of the business can support loan repayment over a reasonable term.

2. The buyer can earn a strong income after debt servicing.

   
   

If the numbers don’t satisfy both criteria, financing usually fails—and without financing, selling becomes very difficult.

Final Thoughts

These are just a few of the factors business owners need to consider when the time comes to sell.

My advice is simple:

Plan your sale.

Owners (brokers). Take the time to put your best foot forward. Present buyers with a well-prepared, well-priced business opportunity that makes solid business sense—not wishful thinking.

Because hope is not a strategy, and neither is “just listing it and seeing what happens.”

Until next time,

Keep It Simple

Gil Poulin

Co-Owner

The Affordable Business Partner

E: gil@theaffordablebusinesspartner.com

P: 403.708.090

W: The Affordable Business Partner

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