The Four Pillars of Sellable Businesses

Lane Carrick, Managing Director of Optima Mergers and Acquisitions, shares his take on the four key pillars buyers look for, why owner dependence is a dealbreaker, how to create a competitive process, and why building systems from day one sets your business up for a premium outcome.

Author

Aaron Alpeter
September 03, 2025

This week’s episode features Lane Carrick—serial entrepreneur, M&A advisor, and educator at SMU’s Cox School of Business. Lane’s career has spanned private wealth management, hospitality, financial services, and launching/selling multiple businesses—including a rollup ultimately acquired by Goldman Sachs.

The Four Pillars of Sellability:

  • Owner Dependence: Can your business run without you for weeks? If not, buyers run.

  • Customer Concentration: Too much revenue from one client (think 100% from Walmart) is a red flag.

  • Books & Records: If you can’t produce clean financials, the deal dies.

  • Systems & Processes: If it’s all in your head, there’s no business to buy.

Head over to your favorite podcast platform, subscribe to Build a Business Worth Buying, and start listening today!

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