Is there something transferable?
The first question is not whether a business can be described attractively. It is whether there is a product, audience, operating system, customer relationship or repeatable service that can become legible to someone new. If everything lives only in the owner’s head, that is not a reason to stop; it is the central transition question.
Can the operation be explained without theatre?
I look for a clear account of how work gets done: the owner’s role, team context, important dependencies and the rhythm behind revenue or customer delivery. The goal is not a perfect business. It is an honest picture of the responsibility a buyer would inherit.
Is the owner ready to shape a handover?
A transition is more credible when the owner can explain what they are willing to support, document or introduce. That may be a compact handover or a period of involvement. The important point is that it is considered rather than assumed.
A buyer thesis is not a mailing list.
Only after that work can I define the kinds of operators or organisations that may find the asset genuinely relevant. Research uses public and professional sources, and any approach must be considered for the case. It is never a claim of guaranteed access, an introduction or a sale.
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