Sell-Side Readiness:
Where Value Gets Lost Before Exit

Most businesses don't lose value at exit.

They lose it in the 12–24 months before.

The deal just exposes it.

This is where it breaks

• EBITDA is not fully translated — pricing, mix and cost-to-serve are not locked
• Working capital is unmanaged — cash remains trapped in inventory and receivables
• Earnings quality is inconsistent — adjustments become negotiation points
• Reporting lacks clarity — buyers don't trust the numbers
• Operational gaps exist — execution risk gets priced in

What happens is the business looks strong internally, but under diligence the gaps become visible — and the buyer uses them to reprice the deal.

If this isn't controlled before exit, it won't be recovered in the deal.