How to sell a startup
What actually has to be true before a buyer will pay, and the order to do it in.
Last reviewed 2026-07-28 · next review 2027-01-24
Most listings that never sell fail for the same reason: the seller published before the business could survive a question. Preparation is not paperwork — it is making the business legible to a stranger who has no reason to trust you.
Four things decide whether you get an offer. First, proof that the revenue is real: a payment-processor export beats a screenshot, and a screenshot beats a claim. Second, proof that the asset is yours to sell: a domain you control, a company record that names you, code whose ownership isn't contested. Third, a clear picture of what a buyer is actually acquiring — customers, contracts, code, or just a brand. Fourth, an honest account of what breaks when you leave.
Price is downstream of all four. A buyer discounts uncertainty, so every unanswered question costs you more than the answer would have. That is the whole argument for preparing before listing rather than after.
The order matters. Verify ownership first, because everything else is worthless if it fails. Then assemble financial evidence, because that sets the range. Then write the operating detail, because that is what survives diligence. Only then publish.