Selling your business can be the proudest moment of your career and also one of the most emotionally complicated. We talk about the part founders rarely plan for: the identity shift, the protective instincts, and the unexpected grief that can show up right when the numbers say you should be thrilled.

I’m joined by Jonathan Peters, senior partner at Empirical Consulting Solutions, to break down how operator-first thinking changes the way you prepare for a lower middle market transaction. We dig into the difference between working in the business and working on the business, why buyer confidence depends on a management team that can run without the founder, and how that independence can directly impact your valuation multiple.

We also get tactical on exit readiness and M&A preparation 18 to 24 months before a potential sale: balance sheet cleanup, obsolete inventory, accounts receivable aging, predictable revenue and earnings, gross margin discipline, and customer concentration risk. Then we zoom out to the softer factors that can make or break a deal, including culture, employee retention, customer stickiness, and the real-world limits of your team’s capacity to “fix everything at once.”

If you’re a founder, owner, or advisor thinking about exit planning, business valuation, or small business M&A, listen, share it with a partner, and subscribe so you don’t miss the next one. After you listen, leave a review and tell us what exit readiness challenge you want to hear us tackle next.