For an entrepreneur, deciding to sell or transfer a business is one of the most significant moments in their life. It marks the culmination of years, sometimes decades, spent building value, developing a team, and shaping a business. But an exit is not simply an ending. Properly prepared, it should also provide the foundations for what comes next.
Whether the next chapter involves launching another venture, investing in other businesses, pursuing philanthropic ambitions, or spending more time with family, preparing for life after a sale is an integral part of preparing for the transaction itself.
At Lombard Odier, Maxime Dubouloz and Jules Boudrand, Directors, Corporate Advisory, support entrepreneurs through the strategic decisions surrounding a sale and manage complete M&A/disposal processes. Their work with business owners highlights the importance of looking beyond the transaction itself and anticipating its consequences for the entrepreneur, the company, and the family.
Early preparation can help entrepreneurs clarify their objectives, strengthen the business ahead of a transaction, and consider how the proceeds of a sale fit into their broader personal and wealth plans. The sale can then become a springboard for new entrepreneurial ventures, investments, family projects, or philanthropy.
Looking beyond the mechanics of the transaction can be just as important as preparing the business for sale
Looking beyond the mechanics of the transaction can therefore be just as important as preparing the business for sale. What role does the entrepreneur want to play afterwards? What should happen to the company? And how should the family and the wealth created through the sale be prepared for the transition?
Preparing for life beyond the business
For many entrepreneurs, a company represents far more than a financial asset. After years of building and managing the business, it may have become closely linked to their identity, professional purpose, and everyday life. Stepping away can therefore create a profound change, even after a transaction that is financially successful.
What comes next will be different for every entrepreneur and will often depend on their stage of life. Some will want to launch another company or invest their experience and capital in other businesses. Others may prefer advisory roles, philanthropy, family projects, or simply greater freedom over how they spend their time.
Purpose and preparation are closely connected. Considering both before the transaction can help entrepreneurs approach the sale not simply as an exit from their business, but as the beginning of a new phase
There is no need to have every detail mapped out before the sale. But thinking about these possibilities early can give entrepreneurs a clearer sense of direction and help ensure that the transaction supports their longer-term priorities.
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entrepreneurs: bespoke wealth management.
learn more The same applies to the wealth created by the transaction. A sale can suddenly transform an entrepreneur’s balance sheet, converting an illiquid business asset into substantial financial wealth. Anticipating the implications for investments, liquidity needs, family arrangements, and future projects can make the transition significantly more structured. This is where Corporate Advisory, wealth planning, and investment expertise can usefully come together.
Purpose and preparation are therefore closely connected. Considering both in advance of the transaction can help entrepreneurs approach the sale not simply as an exit from their business, but as the beginning of a new phase.
Read also: Selling or transferring a business: preparing the handover beyond the transaction | Lombard Odier
Setting realistic expectations on valuation
Valuation naturally plays an important role in how entrepreneurs perceive the outcome of a sale. But the value owners attach to the company they have built does not necessarily correspond to the value a buyer will place on it.
Establishing a credible and objective valuation is an essential part of preparing for a sale
As Maxime Dubouloz and Jules Boudrand emphasise in their work with entrepreneurs, establishing a credible and objective valuation is an essential part of preparing for a sale. It needs to take account of the company’s financial performance and outlook, its competitive position, the resilience of its business model, market conditions, and the universe of potential buyers. Obtaining this view sufficiently early can help an entrepreneur understand what the market may realistically be prepared to pay and identify measures that could strengthen the company ahead of a transaction.
This preparation also creates a stronger basis for negotiations. Rather than approaching the transaction with a single target price in mind, entrepreneurs can assess the value of their business within the wider context of the deal, including its structure, timing, and the strategic fit of potential buyers.
Defining the entrepreneur’s role after the transaction
An entrepreneur’s desired role after the transaction is another important consideration, and one that should ideally be addressed before the sale process begins. It can influence both the choice of buyer and the structure of the transaction.
In a sale to an industrial or strategic buyer, a founder may remain for a transition period before stepping away as the business is integrated into a larger organisation. Where the business remains strongly dependent on the founder, the buyer may seek a longer transition or structure part of the consideration through an earn-out. Building a strong management team and reducing key-person dependency ahead of the sale can therefore increase strategic flexibility.
A financial investor, by contrast, may seek to retain the founder or existing management team to support the company’s next phase of growth. The entrepreneur’s willingness to remain involved can therefore form part of the assessment of different exit routes.
Clarifying this question early helps align the entrepreneur’s personal objectives with the type of transaction pursued and the expectations of potential buyers.
Passing on the business: when the next generation is part of the plan
For Maxime Dubouloz and Jules Boudrand, one of the key questions in any succession process is whether a sale is in fact the right route. For family businesses, passing the company to the next generation, transferring it to management, or bringing in an external investor may all be viable alternatives. The right solution depends on the entrepreneur’s objectives, the company’s needs and, crucially, whether the next generation has both the desire and the ability to take the business forward.
The right solution depends on the entrepreneur’s objectives, the company’s needs and, crucially, whether the next generation has both the desire and the ability to take the business forward
Where a family succession is envisaged, the Corporate Advisory team encourages entrepreneurs to begin preparing well before ownership changes hands. Questions of management responsibility, control, shareholdings, and governance need to be addressed openly. Different family members may have very different ambitions: one child may want to run the company, another may wish to remain a shareholder, while others may prefer no involvement at all. A clear framework can help reconcile these interests while preserving the continuity of the business.
Read also: Four steps to a successful Swiss business transfer | Lombard Odier
The outcome does not necessarily have to be an all-or-nothing choice. Depending on the circumstances, ownership may be transferred entirely within the family, part of the capital may be opened to outside investors, or different elements of the business may follow different paths. What matters is that the chosen structure reflects the company’s long-term interests as well as the founder’s family and wealth objectives.
From business succession to family wealth
A business sale can also fundamentally change the nature of a family’s wealth. For the first time, a significant part of the value created by the entrepreneur may become liquid and therefore easier to transfer, invest, or deploy for future generations. This raises questions that extend beyond the transaction itself: how much should be passed on, when, and for what purpose?
There is no single answer. The appropriate approach will depend on the family’s circumstances, the maturity and aspirations of the next generation, and the objectives of the entrepreneur. What can be particularly valuable is involving family members early enough for them to understand the origins, purpose, and responsibilities associated with the wealth that has been created.
Preparing the next generation for wealth can ultimately be just as important as determining how that wealth will be transferred
These discussions can form part of a broader family governance and wealth planning process, helping establish shared principles around ownership, investment, entrepreneurship, philanthropy, and future transfers. Preparing the next generation for wealth can ultimately be just as important as determining how that wealth will be transferred.
Turning sale proceeds into a long-term wealth strategy
Once a transaction has been completed, the entrepreneur’s financial situation may change fundamentally. Wealth that was previously concentrated in the company becomes liquid, creating a very different set of decisions around investment, liquidity, family needs, and future projects. These questions are best considered within a framework that distinguishes short-, medium-, and long-term objectives and reflects the entrepreneur’s new financial circumstances and risk profile.
This is where Lombard Odier’s broader expertise can complement the work undertaken ahead of the transaction. By considering the company, the transaction, and the entrepreneur’s private wealth as interconnected rather than separate issues, it becomes possible to plan the transition with a longer-term perspective.
Read also: Why should entrepreneurs choose a private bank | Lombard Odier
For Maxime Dubouloz and Jules Boudrand, a successful business exit is therefore about more than achieving the right transaction at the right price. It also means preparing the company for what comes next, understanding the entrepreneur’s own priorities and, where relevant, involving the family early enough to make informed decisions. Together with Lombard Odier’s broader wealth management expertise, Maxime Dubouloz, Jules Boudrand, and the Corporate Advisory team support entrepreneurs throughout this process, from valuation and the assessment of strategic options through to the preparation and execution of a sale or transfer. By anticipating these decisions early, entrepreneurs can protect what they have built while creating the flexibility to shape their own next chapter.
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