Create the Business You Want To Keep Forever

The near-sale that forced me to build a business worth keeping.

It took me three tries to sell my business.

The first time, I listed my restoration business for sale with a general business broker. One of those local guys who sells everything from hair salons to HVAC companies. Crickets. Hardly any interest during the one-year listing period. That was attempt number one.

The third time? That’s the one that worked. I used a specialist who does nothing but sell restoration businesses. He had the right network, the right buyers, and we got it done.

But this isn’t about attempt number one or three. This is about the second attempt . . . the one that almost worked. And the one that changed everything.

A friend of mine connected me with someone he knew who was working with family offices. They were looking to deploy capital into service businesses. We started talking. A few weeks later, I had an LOI in hand.

Quick pause. What’s an LOI?

It stands for “Letter of Intent.” It’s a non-binding agreement that outlines the terms and timeline a buyer intends to follow to purchase your business. It’s usually the first step toward getting serious and it often kicks off a mountain of due diligence. By the way, when you get to this phase, you’re going to be shocked at the amount of time and the emotional roller-coaster that comes along with this - don’t hesitate to reach out if you want to talk about this - I’ve been through it twice my self and many times with clients over the years.

Ok, so that’s what happened. Due diligence kicked in, and I wanted to do it right. I wanted the business to be squeaky clean.

I’m talking:

• Chart of accounts fully dialed in
• Squeaky clean, explainable financial
• Documented processes for every department
• Tidy uniforms and tucked-in shirts (the team loved this, LOL)
• Clean trucks with professional graphics
• Recurring team meetings with real agendas
• Tight collections process
• Profitable jobs backed by job costing
• Clear org chart, solid leadership team

I wasn’t just preparing the business for sale. I was preparing it like company was coming over. Everything needed to be in its place. No clutter. No loose ends.

And I did it. We got the business running better than it ever had. Our team was strong. The culture was solid. Our numbers looked great. I was proud of what we built.

But the buyer kept stalling. We had multiple closing dates. Each time, there was a new delay. Financing issues. Timing issues. Always something.

Then one day, about 18 months into this long and winding process, he asked for another extension.

I said no, not this time.

I had said yes so many times before. But this time, I meant it. Because something had shifted.

In the time I spent preparing the business for someone else, I created the business I wanted to keep.

I didn’t want to sell anymore. Not yet. I wasn’t done enjoying it. I had built something that finally worked . . . a business that was organized, profitable, and no longer a source of constant stress.

Years later, I did sell. And I’m glad I did. At that point, I had my coaching business and another company in the auto glass space. It was time to simplify, take some chips off the table, and free up time.

But that second attempt taught me something powerful.

When you prepare your business to be sold, you build a better business. And sometimes, that business is so good, you don’t want to sell it anymore.

That’s why I always tell people:

Create the business you want to keep forever . . . even if your plan is to sell.

Because the kind of business someone wants to buy is also the kind of business you’ll enjoy owning.