1/10 Align your personal and organizational values. It's not just about selling; it's about passing on your vision. Get clear upfront about what a successful exit looks like for you, your partners, employees and investors. Alignment is essential.

2/10 Perform a comprehensive SWOT analysis. It's time to review all aspects of your organization. No sacred cows. Double down on what is working, shutter unprofitable product lines, invest in compelling opportunities, leverage your strengths, keep your head on a swivel.

3/10 Get your stakeholders on board. The right team for the transition is half the job done. Hiring the right senior leaders (succession planning) may prove essential for you to credibly say the company can thrive without you.

4/10 Perfect your systems architecture. Automation and streamlining are your best friends. Invest in the right tech, CRM and ERP infrastructure where relevant. Most investors will value a technology component because it will be key to staying competitive.

5/10 Craft an execution blueprint. Track progress through clear performance milestones.

6/10 Keep an open mind about exit strategies. Stay flexible, stay adaptable. Have a plan A and a plan B. Build your company so that you don’t need to sell, and exit options will unfold, which could include board level involvement and dividend checks as a passive owner.

7/10 Dress your business for success. Impress with well-organized financials, SOPs, product roadmaps, customer feedback reports, unit economics analyses, and a well organized cloud-based deal room (Dropbox is usually just fine). Be transparent.

8/10 Stay ahead of legal and IP related issues. Your hard work deserves protection. Get an experienced M&A lawyer and consultant or M&A coach to help you (we can help with that!). You don’t want to go down the path of negotiations if there is an 11th hour crisis because you forgot to mention your company is a South Dakota LLC.

9/10 Play the market wisely. Identify potential acquirers, build relationships early, study their M&A strategy and requirements, and create competitive tension. The best time to sell is when you don’t need to and the market is providing tailwinds. If you have a relatively straightforward and micro cap business, consider selling on a marketplace like acquire.com which streamlines the process and can build competitive tension with more suitors.

10/10 Participate actively in the process and seek expert advice for negotiations and exit-plan execution. M&A is nuanced, complicated, and expensive, and often emotionally taxing. Prepare yourself for all of the above with experts who have done it before. Get the best, you deserve it.

Remember, a systematic strategy, successful execution, and adaptability can make for a successful exit process and get you the outcome you want.

And who knows? Once the dust settles, you may be ready for round two!