Waiting until the last minute to sell a business is one of the most expensive mistakes owners make. Too many business owners assume they can wake up one day and sell, only to find out Sneaky Leaky has been draining value for years. In this episode, I sit down with Cameron Bishop to talk about what buyers actually look for and why preparation matters far more than timing the market. We dig into why most owners stay stuck working in the business instead of building something that can stand on its own. If you want high-paying options to sell a business someday instead of running out of time, this conversation will help you know what to fix and where to start today.
What You’ll Learn…
- Why waiting too long to sell a business costs you leverage and buyers
- How working on your business increases value long before an exit
- The one leadership gap buyers notice immediately when reviewing a company
- Why planning to sell a business should start years earlier than most owners expect
- How succession planning affects price, terms, and buyer confidence
- What buyers see as risk even when revenue looks strong
- How to shift from daily operations to long term business ownership thinking
Key Moments…
[0:45] Why Owners Decide To Sell Too Late
[3:20] Working In The Business Versus On The Business
[6:10] Why Preparation To Sell A Business Takes Time
[9:35] What Buyers Look For First
[13:00] Succession Gaps That Lower Offers
[17:40] How Earn Outs Hurt Sellers
[22:15] Building A Business Someone Wants To Buy
Why Owners Decide To Sell Too Late
Most owners think selling happens fast, but that belief costs them. When you decide to sell a business without preparation, buyers see you selling them stress instead of strength. Sneaky Leaky shows up in the selling process through rushed decisions and weak negotiating power for the original owner. Buyers want confidence that the business will perform without you, and that takes planning. The earlier you plan, the more profit you keep when you do sell.
Working In The Business Versus On The Business
Spending all your time in the field feels productive, but it limits the business’ growth. Owners who want to sell a business need systems that run without constant oversight. Buyers pay for stability, not exhaustion. When the daily functioning of the business depends mostly on you, risk to a buyer goes up and the value of your business goes down. Shifting your focus slowly towards working on your business and not just in it creates a stronger selling position for you.
Why Preparation To Sell A Business Takes Time
Preparing to sell a business takes time because buyers want patterns, not promises. They look for trends in revenue, margins, and expenses that hold steady over years, not just a strong recent season. One good year does not outweigh two unstable ones. Sneaky Leaky shows up when owners rush the sales process and expose inconsistencies that could have been fixed earlier. Time gives you proof that your business is a good investment for the buyer, and proof protects your business’ value.
What Buyers Look For First
Buyers look first at whether the numbers make sense without explanation. Clean financials that tie together clearly tell buyers this business is well run. When reports require stories to justify them, Sneaky Leaky creeps in through buyer doubt and hesitation. If you want to sell a business at a fair price, clarity in the financial statements builds trust faster than growth alone. Trust keeps buyers engaged.
Succession Gaps That Lower Offers
Succession gaps bring you low offers on your business because they signal future hiring costs and operational disruption to the buyer. Buyers immediately calculate what it will cost them to stabilize the leadership and management roles after purchasing a business. Then they will negotiate that cost directly out of your selling price. Sneaky Leaky strikes again. When buyers see unclear roles, they protect themselves with lower offers.
How Earn Outs Hurt Sellers
Earn outs are when a buyer pays the seller in instalments over time. These hurt sellers because they delay the certainty of the sale and shift the risk back onto you. Instead of a clean payout, you stay financially tied to decisions you may no longer control. Buyers use earn-outs when they are unsure that the future performance of your business will hold. When you sell a business, certainty is worth more money in your pocket.
Building A Business Someone Wants To Buy
Building a business someone wants to buy means reducing friction in every decision a buyer must make. The easier it is to understand pricing, customers, contracts, and cash flow, the more confident a buyer feels. Confidence speeds deals and protects valuation. Sneaky Leaky shows up when buyers hesitate or renegotiate late in the process. A clear, well organized business feels safer, and safety sells.
About Cameron
Cameron Bishop is a seasoned executive and entrepreneur with a proven track record of driving exceptional growth and transformation across diverse industries. He began his career in publishing, culminating in his leadership of Intertec Publishing, where he scaled the company from a small business to a $400 million enterprise with a global footprint. Subsequently, he co-founded Ascend Media, a high-growth media company, demonstrating his entrepreneurial acumen and ability to build successful organizations from the ground up.
Beyond his corporate successes, Cameron has dedicated himself to advising and mentoring business owners. His experience spans various roles, including CEO of SkillPath Seminars, where he spearheaded a company-wide transformation, and his work with Capitus, guiding businesses through strategic transitions and maximizing their value. Cameron is passionate about empowering business leaders to achieve their full potential and continues to leverage his deep expertise to help entrepreneurs navigate challenges, unlock new opportunities, and achieve lasting success.
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Diane’s Resources:
Profit Impact Call: https://taxcoach4you.com/profitimpactcall
Profit First Method: https://taxcoach4you.com/profit-first
15 Profit Leaks eBook: https://profitcoach4you.com/profitleaks
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