Seller's Checklist
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Get a pre-sale financial audit
Hire a CPA to review and normalize your financials. Use QuickBooks or Xero to clean up books and separate personal from business expenses.
Resource: AICPA: Find a CPA
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Boost business value before listing
Lock in key contracts, reduce owner involvement, and resolve outstanding debts. Use a value driver checklist to identify and address weaknesses.
Resource: Value Builder System: 8 Key Drivers
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Document all processes and metrics
Create SOPs for all core functions and prepare KPIs. Use Google Docs or Notion for SOPs; track KPIs in Excel or Google Sheets.
Resource: Process Street: SOP Templates
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Reduce owner dependency
Delegate critical tasks and empower managers. Use a responsibility matrix (RACI) to clarify roles.
Resource: Atlassian: RACI Matrix Guide
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Prepare a due diligence data room
Assemble all legal, financial, HR, and operational docs in a secure cloud folder (e.g., Dropbox, Google Drive). Use a due diligence checklist to ensure completeness.
Resource: Harvard Law: Due Diligence Checklist (PDF)
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Optimize lease/real estate terms
Negotiate lease extensions or assignability with landlord. Use a commercial lease review checklist.
Resource: NOLO: Commercial Lease Checklist
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Disclose all liabilities
List all pending litigation, tax issues, and regulatory risks. Prepare written disclosures and review with your attorney.
Resource: SBA: Seller Disclosure Guide
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Screen and qualify buyers
Require proof of funds or financing pre-LOI. Use NDAs, a buyer qualification checklist, and NDA template.
Resource: BizBuySell: Buyer Qualification Checklist
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Negotiate for tax efficiency
Consult a tax advisor on deal structure (asset vs. stock sale). Use a purchase price allocation worksheet.
Resource: IRS: Asset vs. Stock Sale Guide
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Plan for post-sale transition
Offer training, introductions, and support. Define your post-sale role and compensation. Use a transition agreement template.
Resource: SCORE: Business Transition Checklist (PDF)