Every business sale is a story, one that needs careful planning, the right team, and a clear understanding of value. Like a carefully curated playlist, there are key themes and recurring notes that successful exits tend to follow.
After working with hundreds of business owners over the years, I’ve noticed that those who exit well don’t just prepare their businesses, they prepare themselves.
I thought we would have some fun, putting together the ultimate playlist for selling your business.
1. Know when to hold, and know when to fold
The Gambler – by Kenny Rogers
“You’ve got to know when to hold ’em,
Know when to fold ’em,
Know when to walk away,
And know when to run.”
Just like the timeless line from The Gambler, successful exits come down to a combination of timing and a degree of luck. One of the sorely underappreciated elements of a successful sale is appreciating the time it will take to get your business ready with many entrepreneurs assuming this will be a 3-to-6-month process. The reality is that a successful exit could take as much as to 3-to-5 years to get right.
2. Make the numbers sing
Money (That’s What I Want) by Barrett Strong (also famously covered by The Beatles)
“The best things in life are free,
But you can give them to the birds and bees —
I want money.”
When it comes to selling a business, sentiment won’t seal the deal. Buyers might appreciate your story, but what they’re really looking for is clear, compelling value. As the song says, good intentions may be free, but they don’t drive offers. What does? Clarity. Predictability. Scalability.
Strong, well-prepared financials tell a story that matters: one of control, opportunity, and future potential.
A high-quality CFO will not only be able to develop compelling, realistic forecasts but they will also be able to give you – and a potential purchaser – the data that aligns with these forecasts.
3. Pressure reveals character
Under Pressure – by Queen & David Bowie
“Pressure pushing down on me,
Pressing down on you…”
Selling a business brings stress – emotionally, financially, and operationally.
It’s often a founder’s first transaction of this nature and a key part of their financial journey or retirement plan. This brings a unique pressure to the founder / founders and their EXCO teams to get it right.
When entering a transaction there are a number of pressure points including personal dynamics between buyer and seller as well as professional advisory teams advising the respective parties. At the same time, you as the seller need to keep your eye on running the business optimally.
Surrounding yourself with the right team is critical.
4. Do it on your terms
My Way – by Frank Sinatra
“And now, the end is near,
And so I face the final curtain.
My friend, I’ll say it clear,
I’ll state my case, of which I’m certain.
I’ve lived a life that’s full,”
Exits are not just about price. They’re about legacy, timing, personal goals, and continuity. Whether you want to exit completely, retain a stake, or step into an advisory role, those decisions should be made with intention, not urgency.
We have been involved in advising entrepreneurs who have secured attractive prices for their businesses but at the same time, they have been tied in with retention structures or earn-outs. A client we supported got the price he wanted but was tied in for a further three years of running the business, simply because there wasn’t a succession plan.
The ideal sale takes consideration for the seller, the minority shareholders, the staff and clients of the business. Give yourself the best opportunity to do it on your terms.
5. Keep believing in the bigger picture
Don’t Stop Believin’ – by Journey
“Don’t stop believin’,
Hold on to that feelin’…”
We all know this one.
Built correctly, your business can be an asset which can transform your financial position and secure your retirement. It has been a tough time for many South African business owners with depressed trading conditions, but one of the factors which has always set us apart is our tenacity and desire to punch above our weight. If you are reading this and walking an entrepreneurial journey, then crank this one up a bit louder – don’t stop believing in your dream.
At The CFO Centre South Africa, we support business owners throughout their growth and exit journey – often long before they think they’re “ready.” If you’re thinking about selling or simply want to understand what it would take to make your business “sale-ready,” we’re here to help.