You don’t lose money at the closing table — you lose it in the months and years leading up to it.
Most owners don’t realize that until they’re already sitting across from a buyer who’s spotted every weakness they never fixed.
The good news? These mistakes are avoidable when you see them coming.
The first one shows up more than anything else: waiting too long to prepare.
An owner will tell me they’re “thinking about selling someday,” and then something unexpected forces their hand. A health scare. Fatigue. A major customer leaving. When urgency enters the room, leverage leaves with it.
I watched this unfold with an owner who built a great company but never documented a single process. Everything lived in his head. When a buyer asked, “Who handles operations when you’re not here?” he didn’t have an answer. That one gap shaved a painful percentage off his valuation.
The second mistake is not cleaning up financials early enough.
Buyers don’t expect perfection, but they do expect clarity. When the books are messy, margins are inconsistent, or personal expenses blur the story, buyers assume risk. And when they see risk, they reduce their offer to protect themselves. It’s predictable — and preventable.
The third mistake is the most personal: not building a leadership layer.
Many owners run solid companies held together by one person — themselves. It works for a season, but it crushes value when it’s time to exit. Buyers aren’t paying top dollar for a business that collapses the moment the owner steps away.
Here’s what I’ve seen firsthand: the owners who create leadership depth early walk into negotiations confident. They know their business doesn’t just run — it runs without them. That single shift can increase value more than any line-item adjustment.
You don’t have to be perfect before you sell. You just need to be prepared. And the sooner you start, the more options you create.
If you’re considering selling and want a clear, grounded plan, start here:
https://visionfox.com/sell-your-business/
If this helped, share it with another owner who might be heading toward an exit.