Selling a Business: Write the Story Before Announcing the Ending

Once upon a time... 

Great stories often begin this way. They introduce us to characters, a world, and what drives them. Then something happens. The story takes a turn. The characters must adapt. And, in the end, we understand where it has all led us. 

The simplest stories have always followed this pattern. Disney turned it into a true formula: once upon a time... then one day... and so... and finally... 

The sale of a business is obviously not (always!) a fairy tale. But it, too, tells a story. 

There was a business. A vision. People who built it. Then one day, its leader decides it is time to think about what comes next. And so begins a journey that will eventually lead to a new owner. And finally, a new page in the company’s story will be written. 

The question is : what story do we want to tell between these different moments ? 

This is where communication should enter the seller’s journey, alongside the financial, legal, tax and strategic considerations. 

Because all too often, communication is only considered at the very end. How do we announce it to employees? What do we tell clients? What press release do we send to the media? 

But a good story does not begin on the last page. 

Once upon a time... a business 

Long before there is any talk of selling, a story already exists. 

How is the business perceived? What is it known for? What reputation does it have with its employees, its clients and its market? Are its strengths recognized? Does its brand exist beyond the person who leads it? 

This may well be the first chapter of a seller’s communication journey: taking the pulse of the company’s reputation and deciding what to strengthen. 

That reputation can be measured. Listen to employees, clients and partners. Identify the strong perceptions, but also the gaps between what the business really is and what people know about it. 

This portrait can then guide communication. Perhaps the business needs greater visibility. Its expertise needs to be better known. Its growth or achievements need to be showcased. Other leaders need to emerge in the media. The next generation of leaders needs more exposure. 

Without ever mentioning a sale, you are already telling a better story about the business you will one day hand over.

Then one day... 

The plan to sell becomes real. 

This is where a new chapter begins, and where the seller should ask a simple question: how do we want to tell the story of what is happening? 

Why now ? Why this buyer ? What brings them together ? What do we want to preserve ? And what will this transaction make possible going forward ? 

Ideally, this story should not be written by the seller on one side and the buyer on the other. It should be built together. 

The two parties will not necessarily use the same words or the same voice. But they should share the same narrative. 

And so... 

Then comes the time to tell this story to others. 

First internally. Then to clients, partners, the media and the market, in a carefully considered order. 

Each group will have its own concerns. Employees will want to know what it means for them. Clients will want reassurance about continuity. Partners will want to understand the vision. The market will want to know what this transaction makes possible. 

The message adapts, but the thread of the story does not change. 

This is also what allows the seller and the buyer to speak together and bring coherence to the transition.

And finally... 

There is what comes after. 

Because announcing the transaction is not the last page. For the business, it is actually the beginning of a new chapter. 

The buyer must gradually take their place. Employees must see that words are backed by action. Clients must continue to have confidence. And the seller must, at their own pace, hand over the mic. 

Communication then supports the shift from one narrative to the next: from the story of the transaction to the story of what follows. 

Writing the story before having to tell it 

No one starts thinking about the tax or legal aspects of a sale when the press release is about to go out. 

So why wait until that moment to think about communication? 

A true seller’s communication journey could begin much earlier: understanding your reputation, strengthening what needs strengthening, building the company’s visibility, preparing the transaction narrative, aligning it with the person taking over the business, orchestrating internal and external communications, and then supporting the passing of the torch. 

Having gone through a sale myself, I know I would have benefited from asking some of these questions sooner. 

Because a business that changes hands inevitably turns a page. 

And it is better to have thought about the rest of the story before having to tell it. Otherwise, others may find the words to tell it for us. 

This perspective is part of our comprehensive series, “Demystifying Business Sale Transactions: A Step-by-Step Guide for Entrepreneurs”. It brings complementary perspectives on business succession and business transfers, providing insight into the challenges faced by sellers and buyers, as well as the key factors for a successful transition.