With tariffs, oil price volatility and ongoing geopolitical tensions dominating the news cycle, many business owners are asking the same question: Is now a good time to sell? According to Mark Herbick, founder and CEO of middle-market advisory firm Pursant LLC, the answer depends far less on headlines than most owners assume.

Three Things That Have to Align

Rather than focusing on headlines, Herbick advises owners to evaluate three specific factors before deciding to sell.

The perfect time to sell is when three things line up,” he explains. “The market is in good shape, your business is in good shape, and you personally are ready to exit. When all three are in place, that’s the ideal moment. When they’re not, the deciding factor usually comes down to readiness—yours.”

Three Questions Every Owner Should Ask

For owners weighing whether the moment is right, Herbick recommends asking three diagnostic questions:

1. Is your business in a state of decline, stability or growth? “Growth is the perfect situation for selling. Stable is less than perfect. Decline is not great.”

2. Is the broader market buyer-favorable or seller-favorable? “Am I selling my business in its current condition into an environment that is buyer- or seller-favorable or neutral?”

3. How do you feel about running the business? “When I wake up in the morning, am I energized to run my business? When I come home at night, am I excited to get away from it—or eager to think about the day and celebrate the victories?”

Herbick says the third question is often the most overlooked, and the most important.

“Owners obsess over valuation and deal terms, but they underestimate the personal side of the equation. Many are blindsided by the loss of purpose and identity that follows an exit. That’s why preparing yourself is just as critical as preparing your business. The grass may seem greener on the other side of the fence, but it’s just as tough to mow.”