What should I actually do first when I start thinking about selling?

The first practical step is usually an honest, private assessment of where the business actually stands — not talking to a buyer or broker yet, but getting a clear picture of your financials, your key contracts, how dependent the business is on you personally, and what you'd actually want out of an exit. This is something you can do quietly, with your accountant, before involving anyone else.

The nuance is resisting the urge to skip straight to "finding a buyer." Owners who jump to market before they understand their own position tend to negotiate from uncertainty, since they don't yet know what their business is realistically worth, what needs fixing, or what deal structure actually fits their goals. That uncertainty shows, and buyers notice it.

Once you have that internal picture, bringing in a business lawyer for a preliminary conversation is a reasonable second step, even well before you're ready to talk to any buyer. They can flag what in your corporate structure, contracts, or ownership would need attention, and help you think through confidentiality before you share anything with anyone outside your own advisors. Starting there, rather than with a buyer conversation, tends to put you in a much stronger position later.