Sometimes I encounter entrepreneurs who think that a successful business sale boils down to luck--simply running into the right buyer at the right time. Although identifying the right buyer is definitely an important part of the process, veteran entrepreneurs know that there is nothing random about a profitable small business sale.
In my experience as general manager of one of the world's most heavily trafficked business-for-sale marketplaces, the most successful business sales combine ample amounts of strategy, planning and hard work (and sometimes, even a little luck). In fact, the businesses that sell most quickly and for the highest amounts are the product of a long-term effort by the owner to build up the value of their business, eventually making it much more attractive to potential buyers.
