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AppletonStrategic

The approach

Selling well is years of small decisions, not one big one

The work is the same whether or not you ever sell: build the management depth, tidy the documentation, understand your value drivers, and know your likely buyers. When the moment comes, you negotiate from strength rather than catching up.

  1. 01

    Start the clock early

    If there's one thing worth telling every owner, it's this: start planning your exit three to five years before you actually want to walk away.

    That's not a scare tactic. It's how long it genuinely takes to turn a business that runs well into a business that sells well — and those are not the same thing.

  2. 02

    Due diligence is a rehearsal, not an exam

    Every deal ends in due diligence. The smartest owners run their own version of it long before a buyer gets involved — across contracts, financials, employment, property and operations, on their own terms.

    Skip that step, and a buyer's team finds the gaps for you. Every gap becomes a lever to renegotiate.

  3. 03

    Build something worth copying first

    Acquirers don't buy businesses out of sentiment. They buy them because ownership adds something they don't currently have — capacity, capability, market access, or a growth story that's cheaper to buy than to build.

    Draw up a shortlist of organisations that would be a natural fit to acquire you, and work backwards from what would make you genuinely attractive to each of them.

  4. 04

    Know what actually moves the number

    Two sets of factors decide what a business is worth. Inside: the people you employ and the financial discipline behind the numbers. Outside: market position, competitive dynamics and timing.

    The businesses that command the best multiples tend to have both working in their favour at the same time.

  5. 05

    Growth is part of the pitch

    Buyers aren't only purchasing what the business is today; they're purchasing what it could become under different ownership.

    A credible growth story, backed by a coherent plan and a real pipeline, does more for your eventual price than almost anything else you can point to. It needs to be evidenced, and repeatable by someone other than you.

  6. 06

    Know who you're selling to, long before you sell

    Most owners assume their buyer will be a direct competitor. Sometimes that's right. But the highest offers often come from somewhere less obvious — an adjacent business, a company wanting your capability, a strategic buyer entering your sector.

    The earlier you identify who those buyers might be, the earlier you can shape the business towards what matters to them.

  7. 07

    Respect the practical timeline

    Give yourself a minimum of three months to prepare properly once you've decided, and closer to a year if the business is substantial.

    A data room, clean IP, and a first impression that holds up — website, materials, the tone of that first meeting — all form a buyer's opening view. Don't dress up what isn't there; an experienced acquirer sees through it.

Start the clock early.

The earlier this work begins, the more of it pays off. A first conversation is free and confidential — no pitch, just an honest read on where the business stands.

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