When selling a business, owners often underestimate how much performance during the sale process impacts the outcome. A dip in revenue, client retention, or operational stability can raise red flags for buyers, prompt renegotiations, or even derail a deal.
Maintaining strong business performance throughout the sale isn’t just advisable—it’s essential.
Understand the Stakes
Buyers evaluate more than just historical performance—they want to see a business that continues to perform reliably right up until closing. Unfortunately, many deals stumble because the seller becomes overly focused on negotiations and neglects daily operations.
Common issues include:
- Owner distraction
- Delayed decisions
- Team disengagement
- Slowed sales activity
As Bo Burlingham notes in his book Finish Big,
“The biggest regrets I heard came from owners who took their eye off the business too soon.”
Buyers aren’t just acquiring what your business has done—they’re buying what it will do.
Prepare Your Team Early
Selling a business involves layers of due diligence, document gathering, and decision-making. If the business depends too heavily on the owner, this can slow down the sale and hurt performance.
Start by engaging your leadership team early in the process—confidentially and strategically.
- Assign internal leads to oversee key departments
- Divide tasks so no single person becomes overwhelmed
- Reinforce a culture of stability and continuity
If done right, the sale process becomes a background activity—not a disruption.
Create a Performance Continuity Plan
Don’t assume business as usual will take care of itself. Develop a short-term operating plan that includes:
- Weekly or monthly KPIs to monitor performance
- Focus areas (e.g., customer satisfaction, sales pipeline, inventory flow)
- Risk mitigation plans for key roles or accounts
Think of this as your “business runs well without me” playbook—a must-have during any sale process.
Delegate and Empower Leadership
If you’ve built a capable leadership team, now is the time to trust them. Delegate day-to-day responsibilities and empower decision-making at the departmental level.
Avoid micromanaging or holding back authority. Buyers will ask, “What happens when the owner leaves?” — so start showing them the answer.
This is echoed by John Warrillow in Built to Sell:
“If your business can’t survive without you, you’re never going to sell it.”
Buyers place a premium on businesses that demonstrate independence from their founders.
Limit Owner Involvement in Daily Operations
If you’re still the bottleneck for key decisions, customer relationships, or vendor negotiations, begin transferring those responsibilities. The more your business relies on you, the less transferable—and therefore less valuable—it becomes.
Your role should evolve to:
- Strategic decision-maker
- Culture ambassador
- Deal quarterback (in coordination with advisors)
This shift not only strengthens your valuation but helps with post-sale transition as well.
Guard Against Customer and Vendor Disruptions
Nothing raises red flags faster than customers or vendors catching wind of an impending sale—especially if it’s not handled properly. Unless disclosure is necessary, avoid making abrupt changes or signaling instability.
Maintain consistency in:
- Pricing and contract terms
- Service delivery
- Communication patterns
Continuity breeds confidence—in your partners and your buyer.
Stay Focused on Sales and Cash Flow
Keep your sales engine running. It’s common for owners to neglect growth during the sale process, but revenue momentum can have a direct impact on valuation and deal structure.
Key focus areas:
- New business development
- Account retention
- Accounts receivable management
- Expense discipline
Buyers will examine recent performance closely—often comparing it to trailing 12-month figures. A slowdown at the finish line can lead to last-minute renegotiations or earn-out contingencies.
Manage Buyer Distractions Strategically
Deals are demanding. Between due diligence, management meetings, and financial reviews, it’s easy for business leaders to become consumed by the sale process.
Mitigate this risk by:
- Setting boundaries around deal activities
- Delegating as much prep and communication to your advisors as possible
- Blocking focused time on your calendar for internal operations
Let your M&A advisor, CPA, and attorney handle the heavy lifting. That’s what they’re there for.
Use Advisors to Stay Focused
An experienced deal team helps you stay in your lane—running the business while they handle the transaction. This includes:
- Document requests and data room management
- Buyer Q&A and communications
- Financial modeling and deal terms
A well-structured team reduces owner fatigue and keeps business performance strong through close.
Focus on the Finish Line
Even if you’ve accepted a Letter of Intent (LOI), the deal is not done. Buyers often include performance-related conditions during confirmatory due diligence or final negotiations.
This is when you double down on focus and execution—not ease off the gas.
As Bo Burlingham reminds us:
“The biggest regrets I heard came from owners who took their eye off the business too soon.”
The sale of your business is one of the most important moments in your entrepreneurial journey. Treat it with the discipline and care it deserves—right up to the very end.
Checklist: Key Practices to Maintain Performance During a Sale
- Delegate daily operations to trusted leaders
- Monitor KPIs and cash flow weekly
- Avoid signaling instability to customers or vendors
- Stay focused on sales and service delivery
- Use advisors to manage the transaction
- Limit personal distractions from the deal
- Finish strong—performance affects the outcome
Preparing to sell your business? Don’t let performance slip at the finish line.
As a certified Exit Planning Advisor and Sell-Side M&A professional, I help business owners protect value, avoid costly missteps, and exit on their terms.
Let’s have a confidential conversation about your goals and how to maintain performance while positioning for a successful sale.
[Schedule a call] or email me at dida@horizonmaa.com to take the first step.