Selling your business is an exciting milestone—but it can also be complex. Many business owners unknowingly make mistakes that cost time, money, or even a successful sale. Understanding these pitfalls early can help you plan a smoother exit and achieve the results you want. Here are three common mistakes to avoid and how Murphy Business Sales can help.
A successful sale doesn’t happen overnight. One of the biggest mistakes business owners make is not planning ahead. Proper preparation includes:
Organizing financial records
Determining a realistic business valuation
Identifying potential buyers
Pro tip from our most successful brokers: Start your exit planning 2 to 5 years before your ideal exit date. Even if your timeline is longer , or uncertain, beginning early gives you flexibility, more options, and greater control over the sale process.
How Murphy Business Sales Helps:
Our team works with you to create a comprehensive exit plan tailored to your personal and financial goals. From valuation to buyer matching, we guide you through every step to ensure a smooth, successful sale.
It’s natural to want the highest price possible but overpricing your business can deter serious buyers. Setting an unrealistic asking price often leads to fewer offers or stalled negotiations.
It can be difficult for a business owner to objectively value their own business, especially when years of hard work and sweat equity are involved. That personal investment can make it harder to see areas that might not be as attractive to potential buyers.
How Murphy Business Sales Helps:
A Murphy Business broker provides an objective opinion of value based on real market data—not emotion. We also create a plan to help you increase your business’s value before it ever hits the market. With access to industry-specific valuation tools and current market insights, our brokers help you set a fair, competitive price and position your business for a successful sale.
Many business owners overlook the importance of preparing their business for sale. This includes:
Cleaning up financials
Improving operations and systems
Sprucing up your physical or online presence
Small issues can cause big hesitation among buyers. From our broker network, we often hear stories where simple things—like excess inventory, overvalued or “upside-down” property, or outdated contracts—create buyer hesitation. These are often issues that could have been identified and fixed early on.
How Murphy Business Sales Helps:
Luckily, our brokers know what to look for. We address these issues before your business is even listed, ensuring it presents at its best and maximizes its value. We provide actionable strategies to make your business more attractive to buyers and market it effectively to the right audience.
Selling a business can be one of the most important financial decisions of your life. By avoiding these common mistakes—and working with an experienced business broker—you can protect the value you’ve built and set yourself up for a successful, profitable exit.
The Murphy Business Sales team is here to help. Contact us today to connect with a local broker and start planning your next chapter.