This document discusses the risks of not being ready to sell a privately-held company. It outlines several cases where owners chose not to sell and later regretted it, including an ambulance company that was later sold for 25 cents on the dollar after the owner passed away, and a publisher that declined to sell and later had to close down. The document emphasizes that external factors like market conditions, technology changes, economic downturns and geopolitical events are out of owners' control and can significantly impact the value and sale of their business over time. It argues owners should be prudent and sell when market conditions are good rather than wait.