Every seller dreams of that moment: the unsolicited phone call from a strategic buyer with an offer too good to ignore. The eight, nine, ten-figure check that lands without warning. It’s a compelling fantasy; clean, fast, flattering. But like most fantasies, it collapses under examination.
The truth is simpler and less romantic: the most successful exits aren’t achieved by happenstance. They are intentional. The best exits are those that maximize value, protect the legacy and give the founder real agency over their future. They are intentional. And they are built. Not found.
The Myth of the Inbound Offer
An unsolicited offer can be dangerous because the seller has nothing to compare it with. When a buyer shows up out of the blue with an offer, it can feel like validation. It is. But do not confuse their intent here. While they are excited about your business, they are often equally fond of the opportunity to buy your business off-market, with neither competition nor representation, and often for a discount.
This strategy can be found on page one of their playbook. They have often made hundreds of acquisitions. They’ve studied leverage, timing and deal psychology, and they’re expecting that you haven’t. Founders who engage with a single buyer, without preparation or a structured process, enter into a negotiation without the benefit of leverage. There’s no competitive tension and no sense of optionality. Just a one-on-one conversation where the buyer deals and holds all the cards. And that rarely ends well for the seller.
Built to Sell, Not Just to Run
A great business isn’t always a sellable business. That’s a hard truth for many founders. Just because you’ve built something profitable, something resilient, something you’re proud of, doesn’t mean it’s going to command a premium on the open market.
Salability is its own thing. Buyers want simplicity and predictability. They want clear financials, predictable revenue, low concentration risk and documented operations. They want to see a sustainable business that will not only survive but thrive, without the owner’s daily involvement.
The best exits happen when the owner starts preparing in advance. They’re built with the end in mind. That preparation can mean the difference between a 5x multiple and a 9x multiple. Between a compelling, cash-heavy deal structure and one that is largely contingent. Between a deal that funds your next chapter and one that traps you in golden handcuffs.
Optionality is Leverage
A successful exit can’t be measured simply by purchase price because the headline price is only one component of the deal. A strong exit requires the right structure, the right partner, and is best achieved through a competitive process that yields a series of options. When multiple buyers are at the table, everything changes. You control the narrative, you create urgency, and, most importantly, you drive the terms, the dollars, the structure, the timing and the post-close roles.
But you don’t get optionality by waiting for the perfect buyer to show up- You build it by running a thoughtful, competitive process, guided by advisors who understand how to create and shape a personalized and specific marketing plan showcasing your business.
At Benchmark International, we’ve seen it time and again: a business that seems “too niche” or “not ready” becomes highly attractive when properly positioned. But it doesn’t happen by accident. It happens by design.
A Process You Own
Selling your business is not just a transaction. It’s a transformation. It’s a shift from operator to owner, from builder to seller. That shift requires intentionality.
The most successful exits happen when the founder takes ownership of the process; when they stop waiting to be approached and start preparing to approach the market on their terms. They bring in experienced advisors, refine their story, clean up their financials and identify the strategic angles buyers will pay a premium for.
You Only Get One Shot
You generally don’t get to sell your business twice. There are no do-overs and the stakes are high, not just financially but emotionally. The business you built is a significant part of your legacy and your life’s work. It is worthy of a suitable caretaker. This effort deserves more than a passive reaction to buyers who knock on your door.
If you want a transformative exit, one that rewards the risk you took, the years you gave and the value you built, then start building now. Not just the business, but the exit itself.
Because in this world, successful exits aren’t found.
They are earned.
They are built.
Dara Shareef is a Managing Partner with Benchmark International, where he leads the firm’s sellside Middle Market Team.
Dara brings both execution and strategic leadership to bear guiding clients through complex transactions. His teams have closed more than 200 transactions since joining Benchmark International in 2015. Earlier, Dara spent a decade as a venture capitalist, a C-Suite executive, and adjunct professor.
