Ready, Set, Sell - Traversing the Path Towards an Exit
By Elizabeth Shea, Founder and CEO
Selling Your Business: Start with “Why”
“Why do I want to sell my business?” It’s the simplest — and most important — question you can ask yourself as you begin your exit journey. This is a big decision, and life changing. Think ahead to what your life will be like post-transaction and what you envision your role to be going forward. Will you leave to retire and do something entirely different with your career, or stay on board to help serve a different master?
Your answer should steer the path you take — from the advisors you choose to the communication strategy you build. If your goal is to remain involved in scaling the business, your messaging and buyer outreach may look very different than if you’re planning a full transition to new leadership.
Plan the Sale Before the Sale
Once you’ve clarified your exit goals, the next step is to build a communications strategy that positions you in the best possible light to potential acquirers. There are many ways to exit — management buyouts, ESOPs, mergers — most transactions fall into one of these categories:
A strategic sale, where the buyer is a company with complementary or competitive offerings that values your expertise, services, or market position.
A financial sale, most often to a private equity firm, where the focus is on scaling your company within a portfolio to drive future returns for another acquisition down the road.
You don’t need all the answers before you start. Preparing your books and operations is essential, but so is preparing your external presence. Your brand story, thought leadership, and visibility in your market can all influence how attractive you appear to the right buyers.
Select Your Buyer, Shape Your Story
I’ve interviewed dozens of investment bankers, private equity operators, and corporate development officials (strategic acquirers) and one thing is clear: different buyers value different things.
Strategic buyers care deeply about your product or service leadership — the unique value you bring to the table that they can’t easily replicate. Maybe it’s your proprietary methodology, your intellectual property, your market dominance, or your deep customer relationships. This group of acquirers are looking for fit: how your capabilities, culture, and expertise can help them expand into new markets or strengthen existing ones.
For private equity buyers, the focus is on growth and leadership. They look for strong financial performance, scalable operations, and a proven executive team that can continue to drive results. Their goal is to amplify what already works — so positioning your company as a high-growth, efficient organization will resonate most.
In short, if you’re speaking to a PE firm, lead with numbers. If you’re courting a strategic buyer, lead with your story. Knowing who you’re talking to — and what they value — lets you shape your communications plan around the strengths that matter most.
Your Exit Begins With Intention
A successful exit doesn’t start at the negotiation table — it begins with intention and planning months before the deal process begins. Understanding why you want to sell provides the foundation for everything that follows, from how you position your strengths to how you identify the right acquirer.
When your motivations and messaging are aligned, your company becomes more than a set of financials — it becomes a story worth investing in. And that’s how you move from simply selling your business to selling it with purpose.