While selling your company can be exhilarating, it’s also fraught with potential missteps. A savvy CEO-owner understands that careful preparation and discipline are crucial in turning a potential triumph into a true success, rather than a costly disappointment. These ten tips, distilled from years of experience on both sides of deals, won’t guarantee success—but they will certainly improve your odds:

• Define your goals: Be clear on price and your future role. Don’t get greedy or indecisive—once you have what you want, lock it in.
• Run the sale like a project: Treat it like any other major initiative. Assign leaders for both the internal team (CEO, CFO, CTO) and external team (lawyers, bankers, brokers, analysts), and ensure everyone is aligned.
• Deliver operationally during the sale: Don’t let the sale process derail day-to-day performance. Your ability to meet expectations is critical to maintaining your company’s value.
• Stick to the facts: Script answers to key questions, and ensure your entire team delivers consistent, accurate responses. Don’t make things up on the fly.
• Rehearse your management presentation: Treat it like theater—staging, scripting, and practice matter. Run through it multiple times with live audiences to ensure you’re polished and prepared.
• Stay flexible: Things won’t go as planned. Be prepared to adjust, retreat when needed, and never wing it.
• Everyone sells: Buyers need to justify the deal to their stakeholders. Make sure you provide clear, shareable answers that make their case easier to support.
• Watch for signals: Everything—from tone to behavior—sends a message. Pay attention to the signals you give off and those you receive to assess if this is the right fit.
• Understand investor psychology: Investors typically operate between apathy, fear, and greed. Navigate accordingly.
• Solve the buyer’s biggest problem: Identify and address your buyer’s key challenge. Solving it can drive up your price and create urgency.

At the end of the day, selling your company is one of the most pivotal moments in your career. By staying clear on your goals, managing the process with precision, and continuously adapting to the unexpected, you increase the chances of achieving the outcome you’ve worked so hard for. While no amount of planning can guarantee a perfect result, these lessons will position you to make informed decisions, handle challenges with confidence, and ultimately drive the best possible deal for you and your team.