How to Sell Without a Broker: Andrew Wilkinson & Tiny Compare Your Options and Timelines

How to Sell Without a Broker: Andrew Wilkinson & Tiny Compare Your Options and Timelines is the guide I use when founders want a fast, low-drama exit without paying a success fee.
You’ll see where a broker adds leverage and where they add delay.
You’ll get DIY scripts, timelines, checklists, and real trade-offs using the Andrew Wilkinson and Tiny lens.
I’ll keep it plain English, first person, and focused on speed, certainty, and net proceeds.

Why sell without a broker

I go brokerless when I already know the buyer universe and I value speed over a broad auction.
I avoid it when I need price discovery or a complex carve-out.
I do it when the business is simple, durable, and throwing cash.
For concise communication habits that matter in DIY processes, see our blog post: I Don’t Respond to Long Emails.

Are you a DIY fit

I run a five-minute checklist before I skip a banker.
I want $1M+ annual profit, clean books, and low customer concentration.
I want a team that can run without you and a one-sentence moat.
If three or more are “no,” I slow down and consider a broker.

Price without a banker: reality vs myth

I anchor valuation with defensible comps and unit economics, not vibes.
I accept that the highest headline often comes with the worst terms.
I optimize for cash at close, clean peg, and capped indemnities.
I’d rather take a fair multiple with simple terms than chase a mirage.

Timeline snapshots: DIY vs brokered vs auction

I can get to an LOI in 7–10 days and close in ~30 days in a DIY path.
A banker-led narrow process often runs 60–90 days to LOI and 30–60 to close.
A full auction can be 120–180 days and burns founder time.
I choose the path that fits my calendar and risk tolerance.

Buyer types and their clocks (Tiny, PE, strategic)

Tiny moves on durable cash with founder-friendly terms and light integration.
PE moves fast on roll-ups but runs deeper diligence on debt capacity.
Strategics can pay up but change roadmaps and add approval layers.
I map my timeline to the buyer’s internal machine.
For capital allocation taste and compounding, see our post: A $3,600 Keyboard and a $66 Million Dollar Investment.

Build the target list and warm paths

I list 15–30 likely buyers and prioritize warm introductions.
I pull three intros from ex-customers, friendly competitors, and investors.
I never spray a deck.
I send one tight email to five buyers on day one.

The first-email script that gets a reply

I use four lines.
I say what the business is, TTM revenue and EBITDA, growth and margins, and why it’s durable.
I add my ideal terms and close timeline.
I ask if they want a concise deck.
For writing with ruthless brevity, see: I Committed Email Suicide.

The 8-slide teaser I actually send

I keep it to snapshot, three-year financials plus TTM, unit economics, customer mix, moat, org, risks, and deal asks.
I label every chart and avoid fluff.
I write like a memo and assume the reader is smart and busy.

Data room lite: the vital 20%

I upload TTM P&L tied to bank statements, top-20 customers by month, churn and cohorts, AR/AP aging, and core contracts.
I keep everything else ready but hidden.
I answer questions in one thread to stop drift.

Anchoring price without overplaying your hand

I set a walk-away floor and say it once.
I trade headline for cash and simplicity.
I avoid “auction talk” unless I’m truly running one.
I remember terms decide take-home, not the press release.

LOI terms that favor founders

I keep economics non-binding and guardrails binding.
I push for short diligence, a clear peg, capped indemnities, and modest escrow.
I avoid long earnouts and murky EBITDA definitions.
I outline a 90-day transition so the buyer can say yes.

Earnout vs cash in a DIY sale

I only use an earnout when there’s a near-term catalyst both sides believe in.
I keep it ≤ 18 months, ≤ 20–25% of price, and tied to one metric.
I prefer rollover equity over a big earnout if I trust the steward.
I write governance so the goalposts can’t move.

Working capital peg in 90 seconds

I average trailing 12 months, seasonally adjust, and define inclusions and exclusions.
I agree to a dollar-for-dollar true-up.
I treat the peg paragraph as real money, because it is.

Diligence cadence that keeps leverage

I set a weekly beat: open items, owner, due date, blocker.
I route all questions through one email and one tracker.
I summarize decisions every Friday.
For inbox rules that halve your response time, see: I Don’t Respond to Long Emails.

Customer calls without spooking revenue

I propose three to five references with a tight script.
I time calls after LOI and before close.
I brief my customers on continuity and benefits.
I keep it human and brief.

When to widen the field vs go exclusive with Tiny

I widen if I need price discovery or face platform risk a second buyer might price differently.
I go exclusive with Tiny if fit is obvious and terms are clean.
I protect my calendar and team from process fatigue.
I optimize for certainty over theater.

Legal budget, docs, and traps to avoid

I cap external legal and agree on a mark-up etiquette.
I fix IP assignments, contractor agreements, and consents pre-LOI.
I avoid unlimited indemnities and survival periods that outlive the sun.
I keep reps standard so nobody argues religion.

Communication hygiene that halves the timeline

I write short, numbered emails with decisions up top.
I keep one shared checklist with owners.
I say “no” fast and “yes” faster.
For sharpening your writing and thinking, see: 02: Journaling With AI.

Red flags that slow DIY deals—and quick fixes

I fix messy cash recognition, hidden liabilities, and founder-keyed sales.
I document SOPs and lock down access hygiene.
I disclose risks early so nobody feels surprised.
I convert complexity into cash at close.

The 30-day DIY close plan I actually use

Days 1–3 I send the first email, share the deck, and prep the data room.
Days 4–10 I take calls, align on terms, and sign the LOI.
Days 11–20 I sprint through diligence with single-thread comms.
Days 21–30 I paper the deal, wire funds, and kick off transition.
For ongoing updates and rhythm, check the Newsletter and the Podcast.

FAQs

Can I really sell without a broker and still get a good price.
Yes if you have clean numbers, a clear moat, and a short list of the right buyers.

Who should I email first if I want Tiny to look.
Email the deal team a four-line snapshot with TTM revenue, EBITDA, growth, margins, and durability.

What’s the biggest risk of going brokerless.
Missing price discovery on unique synergies or underestimating a silent buyer’s appetite.

How do I avoid wasting months on diligence.
Front-load the vital 20% and run a weekly cadence with one owner per domain.

Should I run five buyers in parallel or go exclusive.
Run a handful in parallel until you have a clean LOI, then go exclusive to move fast.

What multiple should I expect without a banker.
Expect a fair market range and optimize terms and certainty to maximize net.

How big should escrow be.
Commonly 5–15% for 12 months with a cap and a small basket.

Do I need audited financials.
No, but I need reconciled statements tied to bank and labeled add-backs.

How do I prep my team for buyer calls.
Write a one-page brief with continuity, benefits, and what’s not changing.

What kills DIY deals late.
Surprise liabilities, murky earnout definitions, and a sloppy working capital peg.

Conclusion

How to Sell Without a Broker: Andrew Wilkinson & Tiny Compare Your Options and Timelines is about choosing speed and certainty without sacrificing net.
Prepare the vital 20%, send a crisp first email, anchor on clean terms, and close in ~30 days with the right buyer.
Keep it simple.
Keep it honest.
Keep moving.
Get Your Copy of Never Enough at https://www.neverenough.com/

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