Insights/Scale Strategy
Scale Strategy6 min readFebruary 2025

Run Your Business Like You'll Sell It — Even If You Never Do

The discipline that separates great businesses from good ones

AH
Aaron Hageman
Founder, 75x Strategy · Former Walmart Exit

I've worked with hundreds of founders. The ones who build the most valuable businesses — regardless of whether they ever sell — all share one habit: they run their company like a buyer is watching. That discipline changes everything.

01What It Actually Means to Run It Like You'll Sell It

Running your business like you'll sell it means making every decision through the lens of enterprise value, not personal convenience. It means keeping your books clean even when it's easier not to. It means documenting processes even when you're the only one who uses them. It means building a team that can run without you even when you love being in the middle of everything.

It's a discipline, not a destination. And the founders who practice it consistently end up with businesses that are more valuable, more scalable, and more enjoyable to run — whether they ever sell or not.

The irony is that the things that make a business sellable are the same things that make it great to own. Clean systems. Strong leadership. Predictable revenue. A culture that doesn't depend on the founder's personality. These aren't exit strategies — they're just good business.

02The Four Pillars of a Sellable Business

Predictable revenue: buyers pay premiums for businesses with recurring, contracted, or highly predictable revenue streams. If your revenue is lumpy and unpredictable, that's a discount. Build subscription models, retainers, or long-term contracts wherever possible.

Transferable systems: if the knowledge lives in your head, it doesn't transfer. Document everything — your sales process, your delivery process, your hiring process, your financial reporting. The more documented your systems, the more transferable your business.

Independent leadership: key-person risk is the single biggest discount in any acquisition. If the business depends on you, buyers will either walk away or pay significantly less. Build a leadership team that can run the business without you — and prove it by stepping back.

03How This Mindset Changes Your Daily Decisions

When you run it like you'll sell it, you stop making decisions based on what's easiest today and start making decisions based on what builds long-term value. You hire differently. You spend differently. You build differently.

You stop tolerating the things you've been tolerating — the messy books, the undocumented processes, the team member who's been underperforming for two years. Because you know that a buyer would see all of it, and it would cost you.

This mindset also forces clarity. When you're thinking about what a buyer would value, you get very clear very quickly about what matters and what doesn't. It's one of the most powerful strategic filters I know.

The Bottom Line

You don't have to want to sell your business to benefit from running it like you will. The discipline of building for transferability, predictability, and independence makes your business better in every way — and gives you options you wouldn't otherwise have.

#exit strategy#enterprise value#systems#scaling#discipline

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