Common Business Owner Mistake #9. Strategically, it may make sense to sell your business to a key competitor. However, this is usually not recommended.

Despite the presence of a confidentiality agreement, selling to a competitor exposes your business and its key competitive advantages, including process efficiencies, customer contacts, product development, and vendor relationships.

Selling to someone you are actively competing with is like playing poker with an open hand: Seldom do you come out victorious.