If you’re a founder or CEO with thoughts of selling your business one day, this episode might change your timeline or at least your mindset. 

Butch Nicholson sits down with Bob Tankesley, M&A advisor and author of Exit Teams, to reveal a stat every business owner needs to hear: only 4 percent of companies ever sell. Most don’t fail because they’re not profitable—they fail because they’re not prepared. 

In this conversation, Bob outlines exactly what it takes to make your business market-ready and why that work needs to start years in advance.

Key Takeaways:

• The buyer mindset has changed
  Today’s buyers are more selective, cautious, and risk-aware than ever before. Due diligence is longer and more detailed, and buyers are asking tougher questions.
• The 4 percent statistic and why it’s so low
  Only one in five companies ever make it to market, and just 20 percent of those actually sell. That’s 4 percent overall—a sobering figure rooted in poor preparation and unrealistic expectations.
• Sellers must learn to think like buyers
  Founders often don’t know what makes their business attractive or unattractive to potential acquirers. Making the mental shift to buyer-focused thinking is crucial.
• You need a team, not just a broker
  M&A advisor, transaction attorney, fractional CFO, fractional marketing—these roles are critical in creating a business that can thrive without its owner at the center.
• Start three years before you plan to sell
  Optimizing a business for sale isn’t a quick fix. Bob recommends starting at least two to three years before a potential exit to make meaningful improvements that boost valuation.

 This episode offers seasoned business owners a candid roadmap to a successful sale. Bob Tankesley doesn’t sugarcoat the challenges, he’s seen too many owners miss out because they started too late, planned too little, or refused to delegate. 

If you’re thinking about selling in the next five to ten years, or advising someone who is, this episode delivers the clarity, urgency, and structure you need to act now rather than later.

Bridging Generations in Sales and Outreach is hosted by Robert (BUTCH) NICHOLSON and produced by Fist Bump

Helping Gen X and Baby Boomer leaders turn their reputation into revenue—without losing the human touch.

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