1.    Trying to sell the business instead of doing business

Most sells hinge in the most recent financial information.  Sellers should always focus on the bottom line and not just on selling the business.  Many deals have collapsed because the most recent sells have fallen.  The buyer could also demand paying a lower price.

2.    Trying to cut cost to make financial information look better

The sells process could take muck longer than expected.  Companies that cut corners to appear more profitable typically will show effects of the cuts before the deal has closed.  If the business is faltering in any manner buyers will walk or reduce the amount they are willing to pay.  Stay focused on building your company through the sale and you will be rewarded with a smooth sell.

3.    Expecting a cash deal

Business sales pros say that more than half of all small-business owners finance the sale of their businesses. You could find yourself lending as much as 70% of the purchase price to the new owner.
Terms on these financing deals vary, but many owners and buyers agree on payoff periods of four to five years. Part of the process will involve getting information on the buyer's financial records and background, just as the buyer will need information on your business's history.