A Founder’s Guide: Selling a Business as a First-Time Founder
- Steve Simon
- Jan 9
- 2 min read
Updated: Jan 17
TL;DR:
Selling your business is more than a transaction—it’s a defining moment in a professional’s career.
Many first-time founders face common challenges: preparation, valuation, and finding the right advisors.
At DQM, we specialize in guiding founders through their first sales with transparency and care, from preparation to post-close.
Explore more insights on the Founders Forum to prepare for your first sale.
Selling your business is more than a transaction—it’s letting go of something you’ve built, often from the ground up. For many first-time founders, it’s a journey filled with excitement, nerves, and a lot of unknowns.
At DQM, we’ve guided founders through every stage of their first sales—from preparation to post-close. Here are three key insights to help you prepare:
1. Preparation is Everything
The most successful sales start long before you enter the market. The earlier you start preparing, the more control you’ll have over the process and outcome. This means getting your house in order:
Financials: Clean up your books, review recurring revenue streams, and eliminate unneeded expenses. Buyers will dig deep, so your numbers need to tell a clear story.
Operations: Document processes and key responsibilities to ensure a smooth handoff post-sale.
Legal: Address unresolved legal or compliance issues, as these can derail deals.
Preparation isn’t just about looking polished—it’s about reducing uncertainty for buyers and improving your valuation. At DQM, our tech-enabled approach helps founders streamline these steps, so you can focus on what matters most.
2. Know Your Worth (and Your Buyer’s Goals)
Valuation isn’t just a number—it’s a narrative about your business’s potential. To position yourself effectively:
Highlight key drivers of value, like proprietary technology, customer loyalty, or growth opportunities.
Research what different types of buyers care about. For example, financial buyers prioritize cash flow, while strategic buyers might value market share or synergies.
Understanding your buyer’s goals helps you align your story with what they value most—and that can make all the difference.
3. Choose Advisors Who Put You First
Your first sale is a once-in-a-lifetime moment. Don’t rush to work with just anyone:
Look for advisors who are transparent about fees and processes.
Prioritize advisors who can explain complex terms in plain language—it shows they value your understanding and trust.
Be wary of advisors who run a high-volume, quantity-focused shop. These firms may prioritize speed and their own pipeline over your goals, leading to cookie-cutter approaches that don’t serve your unique needs.
The right advisors don’t just help you close a deal—they help you build a deal you’ll be proud of.
Selling a business is a big decision, and you don’t have to do it alone. At DQM, we specialize in helping first-time founders navigate the complexities of M&A with transparency and care. We’ve worked with founders in preparation for sale and have guided founders through the sales process, ensuring support from start to finish.
For more insights, visit the Founders Forum, where you’ll find guides, checklists, and candid advice to prepare for your first sale.
If you’re interested in how DQM could help prepare your business for a successful sale, or you just want to get some no-BS, real perspective, reach out to us.
