⚠️ Mistakes When Selling a Business: The One That Costs Owners the Most

If you are thinking about selling your company, there is one mistake that costs business owners more than anything else.

It is not choosing the wrong buyer. It is not overpricing the business. It is not even waiting for the right time.

The biggest mistake is this: Failing to prepare properly before going to market.

And it is one of the most common mistakes when selling a business

Why Preparation Is Everything

When buyers look at a business, they are not just reviewing your turnover and profit. They are looking at how easy it is to take over, how well documented the business is, and how much risk they would inherit.

If your business is not presented clearly, if the numbers are not organised, or if everything relies on you, buyers will do one of two things:

• Walk away

• Lower their offer

That is why lack of preparation leads to delayed deals, discounted valuations and disappointed sellers.

Common Signs of Poor Preparation

At Novus, we see a lot of deals fall apart because the seller rushed to market before getting things in order.

Here are a few red flags that stop deals in their tracks:

• No documented systems or handover plan

• Financials that are hard to understand or poorly presented

• Confusion around owner roles and responsibilities

• Unrealistic price expectations

• Unclear customer or supplier contracts

You might still get interest, but you will not get the best buyers or the best price.

What Preparation Really Looks Like

Preparing your business for sale means treating the exit like a project, not an afterthought.

Here is what you should be doing at least six to eighteen months before selling:

• Get your financials in order and remove personal expenses

• Reduce dependency on yourself as the owner

• Systemise and document key operations

• Organise contracts, leases and legal documents

• Get a realistic valuation from someone who knows the market

• Plan your narrative — why someone should buy your business now

The earlier you do this, the more power you have when buyers come to the table.

What Smart Sellers Do Differently

Successful exits are not just about how much the buyer offers — they are about how much control you keep throughout the process.

The smartest sellers:

• Start planning long before they want to sell

• Get advice from a broker, accountant or lawyer early

• Think like a buyer

• Invest time upfront to protect the final value

These sellers do not just walk away with a deal. They walk away with clarity, confidence and maximum return.

📞 Avoid the Common Mistakes When Selling a Business

If you are thinking about selling, now or in the future, let us talk.

At Novus Business Brokers, we help you prepare for the sale well before it hits the market. That way, you do not leave money on the table or miss your opportunity.

📞 Call us: 0203 883 1397

📧 Email: info@novusbusinessbrokers.com

Or click below to request your free, no obligation valuation and get expert advice tailored to your business.

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