Avoid the "testing the waters" trap

As the great M&A expert Yoda once said, "Do. Or do not. There is no try."

I often see founders falling into the "testing the waters" trap when selling their businesses.

That's a mistake.

You either set out to sell your business, or you don't. There's no in-between.

Casually exploring a sale? Don't.

You likely won't get your desired outcome without sustained effort and focus on the process.

So save your resources.

If you have decided it's time to exit, create a strategic plan from the start and commit to the outcome you want.