The gap between running well and selling well costs founders millions. While strong operations create confidence, sophisticated buyers evaluate transferability through systematic preparation spanning years, not months. Understanding the 36-24-12 month preparation timeline transforms good businesses into premium acquisitions before ever going to market.

While founders focus on financial metrics, buyers obsess over a different question: what happens when you leave? Sophisticated acquirers build models that translate founder dependency into specific valuation discounts, often 20-30% of enterprise value. Understanding how buyers quantify this risk—and systematically eliminating it—separates premium exits from discounted sales.