If a Business Owner has a physical or electronic Rolodex with one or more key customers that they have dealt with exclusively, then a Buyer may become much less interested in buying the business, especially at a premium. Put yourself in the Buyer’s shoes. The thought in the forefront of the mind becomes: Will this customer stay with me if I buy? And more specifically, How many customers will leave and how much impact does that have on revenues and profit?
If you are thinking about transitioning out of your business in the next 1-3 years, now is the time to start transitioning your customer/client to your sales/management/business team.