Several times a week I talk to people who want to sell their businesses. Unfortunately, in most cases, the owners who want to exit the business have not done the work necessary to ensure their business will be valuable to a new owner.

This is tragic because the current owners could end up shutting down the business or spend years getting it ready for sale instead of living their dreams. If these owners had systematically developed their businesses, they would have been saleable.

Here is what buyers are looking for when they come knocking to see if you are interested in selling.

Don’t leave preparing your business for your exit until it’s too late! Start the conversation with your family and your trusted advisors early to enable them to support you as you exit your company.