The first question in due diligence is not profit. It is risk.
Buyers do not just look at profit.
They look at key man risk.
If the business is heavily dependent on you, they will say:
You make a lot of money.
But the business does not make a lot of money without you.
During due diligence, one of the first questions is simple:
If the key person walks away, what happens?
If revenue drops.
If relationships disappear.
If leadership collapses.
That is risk.
And risk lowers valuation.
This is why earn-outs exist.
Because buyers often need the founder to stay in order to protect the income.
If you want a clean exit, build something that produces cash flow without your constant presence.
Start reducing key man risk before you ever go to market.
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Episode 123: https://youtu.be/kYnJ3rmJBYM