A significant reliance on one or a few customers will directly impact your business's sellability. A high level of customer concentration is risky for a potential buyer who will request a customer concentration list as part of their due diligence process. A wise approach to strategically building a business that is indeed sellable and to being prepared for a future sale transaction is to create and manage a customer list as part of your ongoing business management process.

An intellectual property (IP) audit is an important step before selling your business because it helps you identify, organize, protect, and maximize the value of your intangible assets. Intellectual property, such as trademarks, copyrights, patents, and trade secrets, can be a significant part of your business's overall value, and ensuring these assets are adequately managed is crucial to a successful sale.