4. Changing the way you see the business.

Dave had always seen the business as an extension of himself. Every decision had his fingerprints on it. Every system was something he had built or approved. Every key relationship had been personally managed. That level of ownership had helped the business succeed for decades, but now it was becoming a barrier.

John made the point early. If buyers see the business as dependent on one person, they see risk. They discount for it. They hesitate. For Dave to get the value he deserved, he had to start seeing the business not as his, but as something that could function without him. That shift in mindset was not just useful. It was essential.

Where did Dave start?

Dave ran a tight operation. He knew his customers, his team and his numbers better than anyone. But he also knew that very little happened without his involvement. He was proud of the control he had built, but he started to realise that it might be a problem. If he wanted to sell, he needed to stop being the centre of everything.

What is the problem we are working on?

The business was too tied to Dave’s presence, judgement and relationships. Buyers want to see systems, not heroes. They want evidence that the business will continue to perform even after the owner walks away. For Dave, that meant changing the way he thought about his role, his value and the kind of business he was trying to exit from.

What are the options we can explore?

Dave could ignore the issue and hope a buyer would see his involvement as a strength. He could try to pull back quickly and hope the team stepped up. Or he could work with John and the team to gradually reshape the business so that it relied on capability, not control. That meant letting go of some decisions and trusting the structure.

What reflective questions should Dave be considering about this part of the journey?

• Where am I still acting as a bottleneck?

• What do I believe will fall apart without me, and is that true?

• Who in the team could step up if I gave them the space?

• What decisions do I not need to be involved in?

• Am I willing to let others lead even if they do things differently?

What decision has Dave made?

Dave chose to start pulling himself out of the day-to-day decisions. He began by handing over authority on routine matters. He stepped back from certain customer relationships. He stopped being the go-to for operational issues and started reinforcing the chain of command. It was uncomfortable, but necessary.

Why did he make that choice?

Dave understood that value in a sale is linked to transferability. If everything depended on him, he would end up tied to the business long after the sale, or worse, with a deal that fell over. He wanted a clean break, and the only way to get there was to make himself less central now.

What are the implications for the rest of the journey?

This decision set the tone for the rest of the exit process. By stepping back, Dave gave his team room to grow and prove themselves. It also made the business easier to assess, easier to transition and ultimately easier to sell. Buyers would now see a business with leadership depth and sustainable systems.

What is HR best practice?

Reducing owner-dependency means identifying gaps in leadership capability and closing them early. HR best practice is to create development plans for key staff, clearly document roles and responsibilities and build in accountability. Succession is not just about titles. It is about competence and trust.

What is the psychological perspective?

For many owners, control equals security. Letting go of that control can trigger fear, even if it is the right move. Dave had to learn that trust is built through process, not just instinct. By letting go gradually and seeing positive results, he rebuilt confidence in the business without undermining his own identity.

What are the red flags to be watched out for and how can they be eliminated or mitigated?

Red flags include second-guessing delegated decisions, holding back information or stepping in unnecessarily. These behaviours send mixed signals to the team and slow progress. Dave worked with John to set boundaries and check in weekly, not daily. That gave the team space and gave Dave peace of mind.

What has been the immediate effect on the business of taking this action?

The team responded well. They appreciated the trust and rose to the challenge. There were a few bumps, but nothing broke. Dave began to see that his presence had been holding others back, not just propping them up. The culture started to shift from reactive to proactive.

Golden nugget

If you want buyers to believe the business can run without you, start proving it now.

Talk to us about your exit journey. www.regenerationhq.co.nz/contact