Busting the myths that kill value, delay deals, or leave you stuck in the weeds

Most owners don’t plan to sell until they have to and by then, the myths they’ve believed for years have already cost them time, leverage, and value.

We’ve seen it all … from owners trying to shut the doors and walk away, to businesses held together by one person’s memory and inbox.

So, let’s clear a few things up.

Myth 1: “My company is sellable.”

Sellable to who? Under what terms?

A business is more sellable if it can operate without you, has a stable team and repeatable systems, and lives in an industry with legs. Otherwise, it’s a job with a logo.

If you’re the only one who knows how it all works, or if your data lives in Excel and your head, there’s a lot of work to do before a buyer sees true value.

Myth 2: “I’m not ready to sell, so there’s no need to assess my worth.”

Your business doesn’t have to be on the market to benefit from understanding its value.

Early valuations surface red flags, reveal upside, and give you a better sense of timing. They can help you make smarter financial and retirement decisions to build towards a future sale without scrambling.

Myth 3: “I signed the LOI—now we can negotiate.”

This one’s risky.

The Letter of Intent isn’t the kickoff. It’s the framework for the deal. Terms, timelines, and leverage are shaped here. If it’s not carefully reviewed or clearly negotiated, your options shrink fast.

You don’t get a second chance at a clean LOI.

Myth 4: “I don’t need a CRM. I have Excel.”

You might think you’re running a business. But if everything lives in your phone, your inbox, or a spreadsheet only you understand, what you really have is a job.

Buyers want to step into something structured that they can easily integrate and scale.

If your processes disappear when you do, your multiple will too.

Myth 5: “My team is loyal. I don’t need non-competes.”

Loyal to what? You? Or the paycheck?

The truth is, most team members want stability. When owners start talking exit or start disappearing into transition mode, uncertainty takes over. That uncertainty leads to panic moves, not smart ones.

Protect the business and your people by giving them clarity. Non-competes and structured incentives aren’t about mistrust, they’re about protecting value during change.

Myth 6: “I’ll just shut the business down when I’m ready.”

This isn’t a light switch.

Even if you’re not planning to sell, winding down operations is rarely clean let alone cheap.

Unwinding vendor contracts, payroll, customer obligations, and assets takes time and structure. If you’ve built something profitable, there’s likely real value to capture. Walking away could mean leaving hard-earned equity on the table.

The Bottom Line

These myths aren’t harmless. They delay real planning. They create false confidence. And in many cases, they cost owners the outcome they actually want.

Thinking about what’s next—whether that’s a sale, a step back, or a shift in structure—starts with getting the facts straight.

We’re here to help.

Want to talk through what’s real and what’s risky? Let’s start the conversation.