Selling Your Business? Remember This Key Step in Your Exit Strategy

Many of us start companies with a vision to build something meaningful. But what happens when selling becomes relevant? An exit strategy should be part of the plan from the very beginning.

When we founded pensopay, we had a clear seven-year plan—not just for growth and investment targets, but also for realistically assessing what it would take to reach our goals. Even then, we were already thinking about the types of companies that might one day acquire us, and which of them could carry our vision forward.

Have a Clear Exit Strategy

An exit strategy outlines how and when a business owner can step away and sell the company—typically with the aim of maximizing value, ensuring a smooth transition, and making the business attractive to buyers. A well-thought-out exit strategy is essential for any founder hoping to sell on favorable terms.

Here are some key lessons from our own journey, which I hope will help other entrepreneurs prepare to sell what they’ve built.

What to Look for in a Buyer

It’s tempting to go for the highest offer—but remember: the biggest paycheck isn’t always the best outcome for you or your team. I’ve seen companies acquired only to go bankrupt months later, or be dismantled and lose everything that made them unique. It’s heartbreaking to watch something you built from scratch fall apart.

So when searching for a buyer, consider:

• DNA and values: Will the acquiring company carry your business forward in a way that aligns with your vision? Will they respect the foundation and culture you've created?
• Employee future: What will happen to the team who helped you build it? Make sure they have a future in the new setup.
• Your role: Be clear about what part you want to play moving forward. Will you stay on? For how long—and under what conditions?
• The buyer’s trajectory: How well-positioned is the buyer for future growth? Is their direction compatible with your own values?

And don’t underestimate your gut feeling. If you know someone at the acquiring company—or can build a relationship before the deal is signed—it helps you understand their intentions better. The informal can be just as important as the formal.

Earnouts and Financial Considerations

Many deals involve an earnout period, where part of the payment depends on hitting certain targets. It’s important to be clear on what’s expected from you and your team during this time. Are you responsible for maintaining growth? Integrating new systems or processes?

Also, think about how you’ll be compensated:

• Cash vs. equity: Cash provides security. Equity could offer long-term upside—but only if you trust the new leadership and their vision.
• Time commitment: What’s your role going forward, and for how long? When day-to-day reality sets in, you need to be sure you see yourself in that position.

Remember: the most lucrative deal on paper isn’t always the best.
Choose the option that aligns with your values and long-term goals.

Timing Is Everything

Selling at the right time can make all the difference. If you want to maximize value, you need to sell when your business is growing. Think of it like surfing—you need to catch the wave at the perfect moment to ride the full momentum. Wait too long, and the wave may break, flattening your growth.

Good timing requires both strategic planning and a bit of luck. Make sure your business is in top shape—and be ready to act when the market is on your side.

Your Role in the Future Setup

One of the most overlooked aspects of a sale is your own role post-acquisition. Many deals involve the founder staying on—whether as advisor, leader, or transitional guide. So it’s important to know what you want, and what will be expected of you.

Ask yourself:

• Do I want to stay involved in the company? If so, for how long?
• What role will I play? Will I shape the strategy—or act more as a behind-the-scenes advisor?
• How does this align with my personal goals? Am I looking to build something new, take a break, or pursue something entirely different?

For me, it was important to be part of the transition—to ensure our company’s DNA was preserved and that our team landed safely in the new organization. At the same time, I needed a clear timeline for how long I’d stay involved so I could start looking ahead to my next chapter.

My advice: Have an open and honest conversation with the buyer before you sign anything. Set expectations early and clearly. You owe it to yourself—and to what you’ve built—to define your future role in the new setup.

One Final Tip

Selling your business is an emotional decision. It’s your life’s work, your passion, your identity. That’s why it’s worth taking the time to reflect on what truly matters to you—and to have a plan in place from day one.

For me, it was all about finding the right balance between financial value, employee wellbeing, and preserving the company’s DNA. If you can strike that balance, you’re well on your way to a successful exit.

My advice to you: Start thinking about your exit strategy today—even if you’re just getting started. It can make all the difference when the time comes.

Ready to sell your business? We’ve put together a guide with the 4 most important tips for selling your company quickly—and at the best possible price.

Best of luck on your journey—before, during, and after the sale.

Team pensopay

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