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17My Story of Selling My Companyby Dan KennedyCHAPTER 2I sold my fi rst business, a small ad agency and commercialart studio, in 1978, in order to move from Ohio to Arizona. We were coming out of record-breaking winters, in cold and in snow. My #1 client had closed up shop, and moved there. I woke up in a hurry. In hindsight, I don%u2019t think I would have done much better on the sale had I been more knowledgeable and patient. The business was not worth a great deal, and the buyer was wealthy and indulging her bucket list item, so she overpaid. Frankly, I got lucky. Fortunately, I knew it, so I made a point of educating myself about selling businesses before the next opportunity to do so occurred. Again fortuitously, I picked XS%u0003WKH%u0003ELJJHVW%u0003PLG%u0010OHYHO%u00030%u0009$%u0003DQG%u0003EXVLQHVV%u0003EURNHUDJH%u0003%u00c0%u0003UP%u0003DW%u0003WKH%u0003time as a consulting client, and I learned a lot by hanging around Preview Copy | 31