Question of the Week

Thanks, Rafael (Saskatoon, SK) July 23, 2026    

If you've ever stood in your office staring out the window and wondered whether it's time to sell your business, congratulations - you've joined a very large club. 

The truth is that most business owners don't wake up one morning and suddenly decide to sell. The idea usually sneaks up on them. It might start with a difficult employee issue, another government regulation, a customer complaint that arrives five minutes before closing, or the realization that your "temporary" 70-hour workweek has lasted 15 years. 

Many owners think the best time to sell is when they're finished with the business. Unfortunately, that's often the worst time to sell. 

Buyers don't like desperation. 

If you're exhausted, profits are declining, key employees are leaving, and you're counting the days until retirement, buyers can usually sense it. They may not know what's wrong, but they know something feels off. 

The best time to sell is usually when the business is doing well. 

Think of it this way. If you were selling your house, would you list it after the roof started leaking, the furnace quit working, and the dog chewed through the kitchen cabinets? Probably not. 

Businesses work the same way. 

Buyers are purchasing future opportunity. They want to see strong financial performance, stable operations, reliable employees, and room for growth. They are often willing to pay a premium for businesses that appear healthy and well-managed. 

There are also personal considerations: 

• Perhaps you want to retire. 
• Maybe you're ready for another challenge. 
• Maybe your spouse wants to travel while you're still young enough to enjoy airport food and hotel mattresses without requiring a chiropractor afterward.

There is no perfect age and there is no perfect time. The real question is whether your business is ready to be sold. 

Ask yourself: 

• Are profits stable or growing? 
• Could the business run without me for several weeks? 
• Are my financial records organized? 
• Do I have documented systems and procedures? 
• Is there a management team in place? 

If you answered "no" to most of those questions, don't panic. 

Many successful business owners are excellent operators and terrible documenters. They know how everything works, but it's all stored in their head like a giant filing cabinet. 

The problem is buyers cannot purchase what's in your head. 

They need systems, procedures, and evidence that the business will survive after you're gone. 

The owners who achieve the best outcomes usually begin preparing one to three years before they sell. They improve profitability, clean up financial statements, reduce owner dependence, and strengthen management. 

When they finally decide to go to market, buyers see a valuable business. 

Not a job disguised as a business. 

That's a huge difference. 

The smartest question isn't, "Am I ready to sell?" 

It's "Would a buyer be excited to buy what I've built?" 

If the answer is yes, you may be closer than you think. 

Thanks, Sarah (Moose Jaw, SK) Aug 2, 2026

If you've ever stood in your office staring out the window and wondered whether it's time to sell your business, congratulations—you've joined a very large club.

The truth is that most business owners don't wake up one morning and suddenly decide to sell. The idea usually sneaks up on them. It might start with a difficult employee issue, another government regulation, a customer complaint that arrives five minutes before closing, or the realization that your "temporary" 70-hour workweek has lasted 15 years.

Many owners think the best time to sell is when they're completely finished with the business. Unfortunately, that's often the worst time to sell.

Buyers don't like desperation.

If you're exhausted, profits are declining, key employees are leaving, and you're counting the days until retirement, buyers can usually sense it. They may not know what's wrong, but they know something feels off.

The best time to sell is usually when the business is doing well.

Think of it this way. If you were selling your house, would you list it after the roof started leaking, the furnace quit working, and the dog chewed through the kitchen cabinets? Probably not.

Businesses work the same way.

Buyers are purchasing future opportunity. They want to see strong financial performance, stable operations, reliable employees, and room for growth. They are often willing to pay a premium for businesses that appear healthy and well-managed.

There are also personal considerations.

Perhaps you want to retire.

Maybe you're ready for another challenge.

A change in partnership business or personal

Maybe your spouse wants to travel while you're still young enough to enjoy airport food and hotel mattresses without requiring a chiropractor afterward.

There is no perfect age and there is no perfect time.

The real question is whether your business is ready to be sold.

Ask yourself:

• Are profits stable or growing?
• Could the business run without me for several weeks?
• Are my financial records organized?
• Do I have documented systems and procedures?
• Is there a management team in place?
• What does my business look great from the outside in?

If you answered "no" to most of those questions, don't panic.

Many successful business owners are excellent operators and terrible documenters. They know how everything works, but it's all stored in their head like a giant filing cabinet.

The problem is buyers cannot purchase what's in your head.

They need systems, procedures, and evidence that the business will survive after you're gone.

The owners who achieve the best outcomes usually begin preparing 6 months to three years before they actually sell. They improve profitability, clean up financial statements, reduce owner dependence, and strengthen management.

When they finally decide to go to market, buyers see a valuable business.

Not a job disguised as a business.

That's a huge difference.

The smartest question isn't, "Am I ready to sell?"

It's "Would a buyer be excited to buy what I've built?"

If the answer is yes, you may be closer than you think.

Thanks, Jeff (Edmonton, AB) Aug 9, 2026  

Imagine listing your house for sale and then telling prospective buyers:

"I can't find the property title, I think the furnace is about ten years old, and I'm pretty sure the basement doesn't leak anymore."

That wouldn't inspire confidence. 

The same thing happens when selling a business.

One of the biggest surprises for many business owners is just how much information buyers want to review before they write a cheque. They aren't trying to be difficult. They simply want proof that the business they're buying is what you say it is.

A serious buyer is about to invest hundreds of thousands - or perhaps millions of dollars. They're going to ask questions. Lots of questions.

And if your answer to most of those questions is, "I think I have that somewhere," you're making life harder than it needs to be.

At a minimum, most buyers will want to see:

• Three years of financial statements
• Three  years of tax returns
• Current balance sheet
• Profit and loss statements
• Equipment lists
• Lease agreements
• Employee information
• Customer concentration reports
• Supplier agreements
• Licenses and permits
• Insurance policies

But that's only part of the story.

The real value often comes from operational documentation.

• Can you show how the business runs?
• Do you have training manuals?
• Employee procedures?
• Sales processes?
• Marketing systems?
• Inventory controls?

A buyer loves seeing these things because it tells them the business isn't held together with duct tape and your memory.

I've worked with owners who knew every part number, every customer, every supplier, and every operational detail without writing any of it down.

Their brains were essentially the company operating manual. While that's impressive, it's also terrifying for a buyer.

Because buyers can't purchase your brain. If critical knowledge leaves when you leave, they see risk.

The businesses that sell most smoothly have organized information long before they go to market.

Think of it as creating a "business owner's instruction manual."

The easier it is for buyers to understand your company, the easier it becomes for them to imagine owning it.

And that's exactly what you want them doing.

Thanks, Michael (Calgary, AB)  Aug 14, 2026

This is one of the most important questions every business owner should understand.  Because here's a shocking statistic: 

• Not every business listed for sale actually sells.  
• Many sit on the market for months. 
• Some sit for years. 
• Others quietly disappear without ever finding a buyer. 

Then there are businesses that attract multiple offers within weeks. 

What's the difference? 

Let's start with the most common problem - Price.

Many owners accidentally value their business using a formula that looks like this: 

Years of hard work + emotional attachment + retirement needs = asking price.

Unfortunately, buyers use a completely different formula.  They focus on risk, cash flow, growth potential, and market conditions.  The gap between those two viewpoints can be enormous. 

The owner says:  "I've put my heart and soul into this company." 

The buyer says:  "That's great. Can I see the financial statements?" 

Emotion doesn't increase value. Performance does. 

The next reason businesses fail to sell is owner dependence. 

Imagine a buyer discovers: 

• The owner handles all sales 
• The owner manages all staff 
• The owner approves all purchasing 
• Customers only deal with the owner 

At that point the buyer isn't buying a business. They're buying a replacement job. 

And probably a rather stressful one.  Businesses sell faster when operations are documented and responsibilities are shared among employees. 

Financial records also matter enormously. Buyers hate uncertainty.  If financial statements are incomplete, disorganized, or inconsistent, buyers begin to wonder what else might be hidden. 

Even if nothing is wrong, uncertainty creates hesitation. 

Another factor is opportunity. 

The most desirable businesses offer buyers a pathway for growth.

Buyers love saying things like: 

• "If I buy this business, I can expand online." 
• "If I buy this company, I can open a second location." 
• "If I acquire this operation, I can increase margins." 

Growth creates excitement. 

Excitement creates offers. 

Offers create competition. 

Competition creates stronger selling prices. 

The businesses most likely to sell share several traits: 

• Strong earnings 
• Organized records 
• Systemized operations 
• Reasonable pricing 
• Growth opportunities 
• Reduced owner dependence 
• Good story telling 

In other words, buyers aren't looking for perfection. They're looking for confidence. 

The easier it is for a buyer to imagine success after taking ownership, the easier it is for the business to sell. 

And that's really the secret. 

The best businesses don't sell because someone lists them. 

They sell because someone wants them. 

Thanks, Earl (Lethbridge, AB) Aug 21, 2026

The short answer?   Longer than most owners think. 

Whenever I meet a business owner who says, "I'd like to be retired by next month," I know we're about to have an interesting conversation. 

Selling a business isn't like selling a used pickup truck. 

You don't put a sign in the window on Friday and hand over the keys on Monday. 

A typical business sale often takes between six and twelve months. Sometimes longer. 

Now before that news ruins your day, let's talk about why. 

The first stage involves preparation. 

• This includes valuation, organizing documents, preparing marketing materials, and making sure the business is presentable. 
• Think of it as cleaning your house before guests arrive. 

Nobody wants buyers seeing the business equivalent of dirty laundry. 

Next comes marketing. 

• Qualified buyers must be found, screened, and educated about the opportunity. 
• Then come meetings 
• Questions
• More questions
• Financial reviews
• Additional questions

If you've never sold a business before, you'll be amazed at how many questions buyers can ask after you've already answered 47 previous questions. 

Then comes negotiation

Then a Letter of Intent

Then due diligence

Then financing approval

Then legal documentation

Then transition planning. 

Then more paperwork because apparently someone discovered another form everyone forgot about. 

The biggest delays usually come from three areas: 

Poor Financial Records 

• Messy bookkeeping creates problems faster than almost anything else. 

Unrealistic Pricing 

• Overpriced businesses attract fewer qualified buyers. 

Lack of Preparation 

• Missing information creates uncertainty, and uncertainty creates delays. 

Here's the good news. 

Well-prepared businesses often move much faster. 

We've seen transactions close quickly when sellers had excellent records, realistic expectations, and organized operations. 

Selling a business is less like a sprint and more like a marathon. 

The owners who prepare early usually cross the finish line with fewer surprises and better results.

Thanks, Jane (Winnipeg, AB) Aug 27, 2026

Let's pretend you're a buyer.   Two businesses are available. 

Business A makes consistent profits, has documented systems, strong employees, growing revenue, and an owner who can disappear for two weeks without disaster. 

Business B also makes money. 

However, the owner answers customer calls at midnight, manages every employee issue personally, approves every purchase order, and hasn't taken a vacation since the invention of smartphones. 

Which business would you rather buy?  Exactly. 

• Buyers love businesses that make money 
• But they love businesses that make money without creating constant stress even more
• Attractive businesses generally share several characteristics

Consistent Earnings 

• Buyers like stability 
• A steady profit trend creates confidence

Strong Management 

• If employees can operate effectively without the owner, buyer risk decreases dramatically

Documented Systems 

• Buyers don't want to guess how things work 
• They want procedures

Diversified Customers 

• If one customer represents 70% of revenue, buyers become nervous. 
• Very nervous

Growth Opportunities 

• Buyers love possibility. 
• If they can see opportunities to increase sales or expand operations, the business becomes far more appealing. 

One overlooked factor is simplicity.  

Businesses that are easy to understand often attract more buyers. 

Complicated operations with unclear processes can create hesitation. 

Think of it this way:  

• Buyers aren't just purchasing what your business is today. 
• They're purchasing what they believe it can become tomorrow. 

The more confidence they have in that future, the more attractive your business becomes.