Seller's Checklist

  1. 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
  2. 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
  3. 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
  4. Reduce owner dependency
    Delegate critical tasks and empower managers. Use a responsibility matrix (RACI) to clarify roles.
    Resource: Atlassian: RACI Matrix Guide
  5. 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)
  6. Optimize lease/real estate terms
    Negotiate lease extensions or assignability with landlord. Use a commercial lease review checklist.
    Resource: NOLO: Commercial Lease Checklist
  7. 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
  8. 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
  9. 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
  10. 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)