Why buyers price against it
A buyer is not only assessing the business. They are assessing whether the person selling it will actually complete and then let go. Owner readiness is the personal counterpart to everything else in the framework, and it is easy to ignore until it stops a deal. An owner who has not decided what comes next is an owner who may hesitate at the last hurdle, reopen agreed terms, or hold on during the handover in ways that damage the very business the buyer is paying for.
What weak looks like
No clear reason for selling beyond a vague sense that it is time. No picture of life after the business, financially or personally. An identity so bound up in the company that stepping away feels like a loss rather than a move. These do not show up in the accounts, but they show up in the room, and experienced buyers watch for them because they have seen readiness, not price, kill deals in the final weeks.
How to strengthen it
Treat your own readiness as part of the preparation, not an afterthought. Get clear on why you are selling and what you are selling into: what you will do with your time, your money and your sense of purpose once the business is no longer yours. Work out the number you actually need and what the sale has to deliver. An owner who has settled these can negotiate without flinching and hand over without clinging, which is what turns a good offer into a completed deal.