Selling Your Business? Beware of Potential Blind Spots

Finding a suitable buyer isn’t easy, so unveiling the trouble spots in your plans as early as possible can help make your business more attractive to potential buyers and ease your own transition.

A businessman pulls open a glass office door.
(Image credit: Getty Images)

No matter your exit strategy, there are positives and negatives to each of them. Yet, the most effective exit plans have contingencies for all of them. A well-thought-out exit plan is vital to a successful transition. That’s why I want to look at some of the common blind spots owners encounter when selling a business on the open market.

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Justin Goodbread, CFP®, CEPA, CVGA
President, WealthSource Partners

Justin A. Goodbread is a CERTIFIED FINANCIAL PLANNER™ practitioner and an adviser with WealthSource® Knoxville. After years of working in a large firm, he ventured out on his own in 2009, starting Heritage Investors, and eventually joining WealthSource® Partners LLC in 2022. As a serial small-business owner, Goodbread has bought and sold multiple businesses. He uses this experience, along with his continuing education, to help business owners grow and sell what is often their largest asset.