Thinking of Selling Your Business? 10 Things You Need to Get Right Before You Exit

Introduction - Thinking of Selling Your Business?

Selling your business is one of the biggest financial and personal decisions you’ll ever make. Whether you’re aiming to retire, step back, or bring on a strategic partner, one thing is clear: you only get one shot at a successful exit - and preparation is everything.

At Stratavera, we advise SME business owners in Ireland who are planning to sell in the next 1-3 years. We help founder-led or PE backed businesses prepare for exit, avoid value leakage, and unlock maximum deal value.

If you’re thinking about selling your business, here are ten things that need to be right before you go to market.

1. Maximise Your Financials

Buyers don’t just look at last year’s profits. They assess quality of earnings, margin trends, revenue concentration, forecasts and working capital requirements. Your financials must be clean, accurate, and clearly support the valuation you’re targeting.

Start by reviewing:

- Recurring vs one-off revenue streams.

- EBITDA and normalisation adjustments.

- Forecasts and underlying growth assumptions.

- Owner related costs or personal expenses run through the business.

- Working capital requirements (which impact final deal value).

Tip: Engage your accountant or advisor to prepare a pre-sale financial pack. The stronger your financial story, the greater your negotiating leverage.

2. Build a Strong and Retained Leadership Team

Succession planning is critical. If your business revolves solely around you, it’s a red flag. Investors want to see a team in place that can run and grow the business without the founder.

But it’s not just about appointing a successor. It's about retaining key talent through the transition. This can be achieved via:

- Long-term incentive plans (LTIPs) or bonus structures.

- Employment contracts or vesting schemes.

- Clear career progression opportunities.

Real example: In one transaction we advised on, a founder and CEO/Chairman had mentored and developed a senior member of the management team five years before appointing them CEO. That leadership continuity gave buyers confidence and drove a stronger valuation.

3. Get Your House in Order (Vendor Due Diligence)

Vendor due diligence (VDD) lets you spot and fix issues before you go to market. It reduces surprises, accelerates timelines, and strengthens your negotiating position.

Focus on:

- Clean tax and VAT records

- Customer and supplier contracts

- Shareholder agreements and employee terms

- Leases, pensions, IP, GDPR, and insurance coverage

Tip: Think like a buyer. What would you scrutinise if you were investing seven figures?

4. Understand the Buyer Landscape

Different buyers have different motivations:

- Trade buyers want synergies.

- PE firms look to back management and scale.

- Family offices seek long-term value.

- HNW individuals may want a lifestyle asset.

Knowing who you’re targeting shapes how you prepare and position your business.

Stratavera helps you:

- Map the buyer landscape

- Assess who is likely to be interested

- Prepare tailored messaging for each buyer type

Remember: The best buyer isn’t always the highest bidder - it’s the one who aligns with your goals, team and future vision.

5. Have a Credible Growth Strategy

Buyers aren’t just buying what your business has done - they’re buying into the future growth opportunity.

You need a compelling growth narrative:

- Where will growth come from? (New markets, products, tech, partnerships?)

- What capabilities will drive it?

- Who on your team will lead it?

A documented strategy shows ambition and gives confidence in future earnings.

6. Clarify Shareholder Objectives and Deal Structure

If you’re not the sole owner, alignment across shareholders is essential.

Consider:

- Who wants to stay vs exit?

- Are you open to earn-outs or equity rollover?

- What are your personal and tax goals post-sale?

Tip: Discuss these issues early. It’s better to align before the deal starts than argue mid-way through diligence.

7. Know Your Customer Base

Buyers assess customer quality, contract terms, and concentration risk.

Questions they ask:

- Are your top 3 clients >50% of revenue?

- Are contracts recurring or one-off?

- What’s the churn rate?

A diversified and loyal customer base increases perceived stability and value.

8. Manage Risk Like a Buyer Would

Savvy buyers scan for hidden risks:

- Litigation or compliance issues

- Dependency on one supplier or system

- Cybersecurity vulnerabilities

- Insurance coverage gaps

Do your own risk audit. It’s far cheaper to fix issues in advance than under deal pressure.

9. Start Tax Planning Early

Tax can materially affect what you take home. Start structuring early to:

- Optimise CGT reliefs (like Retirement Relief or Entrepreneur Relief)

- Ensure share ownership is correct

- Consider holding companies or trusts if relevant

Speak with a tax advisor at least 12–24 months before the sale, not in the final stretch. The earlier you start tax planning the better.

10. Seek Experienced, Strategic Advice

You only sell your business once. Surround yourself with people who have done it before and have your interests at heart.

At Stratavera, we’ve supported multiple successful exits and bring boardroom experience, commercial acumen, and M&A know-how.

We work with you on:

- Strategic positioning

- Financial readiness

- Buyer engagement

- Deal navigation

Exit-Ready Checklist:

- ✅ Financials reviewed and normalised

- ✅ Leadership team retained and incentivised

- ✅ Vendor due diligence completed

- ✅ Buyer landscape mapped

- ✅ Growth strategy documented

- ✅ Shareholders aligned

- ✅ Customer base analysed

- ✅ Risks audited and mitigated

- ✅ Tax plan underway

- ✅ Trusted advisor engaged

Final Thought

If you're thinking of selling in the next 3 years, start preparing now. The earlier you act, the better positioned you are to maximise value, reduce risk, and shape your legacy.

Stratavera helps SME founders go to market with clarity and confidence. We offer practical, board-level support to guide you through every step of the journey.

Let’s start the conversation at Stratavera.ie