Achieving an Extraordinary Business Exit

In this episode of Entrepreneurs at Scale, Neale Lewis speaks with Andy Harris, co-author of The Extraordinary Exit and managing director at STS Capital Partners, about preparing for a business sale. Harris emphasizes that an extraordinary exit is about more than the sale price: it should also meet the founder’s personal, family, and future-life goals.

The conversation covers preparing emotionally for due diligence, defining required and preferred outcomes, assembling a capable advisory team, and viewing the business through a buyer’s eyes to identify risks and hidden value. Harris encourages founders to build their businesses to be sellable—even if an exit is not imminent.

Main takeaways

• Start preparing early: Build the business as if it could be sold, even if you do not expect to exit soon.
• Clarify what success means to you: Define required and preferred outcomes—including valuation, your role after the sale, and what happens to your team—before negotiations begin.
• Plan for the life transition: Think about your purpose, family, and plans after the deal, not just the financial transaction.
• See the business as a buyer would: Assess its sellability, including founder dependence, customer concentration, growth, margins, and potential risks.
• Find the hidden value: Look for “Rembrandts in the attic”—distinctive culture, systems, processes, or expertise that may be especially valuable to a buyer.
• Build the right team: Consider a sell-side advisor, an experienced M&A lawyer, tax and wealth advisors, a coach, and finance support such as a fractional CFO.
• Stay prepared and transparent: Thorough preparation and disclosure can help due diligence proceed smoothly and reduce the risk of misunderstandings.
• Seek strategic fit and competition: A competitive process with buyers aligned to the business and the founder’s goals can support a stronger outcome.

Resources discussed

• The Extraordinary Exit by Andy Harris and Jonathan Cheryl
• What to Make of a Life by Jim Collins
• STS Capital Partners who can provide you with a complimentary audit of your Exit Readiness
• Andy Harris on LinkedIn
• The Exit Advisory Team