Should I tell my managers of my intention to sell?

This is an individual decision that depends on your circumstances. At the same time, there is an optimum way to sell your business. Ideally, your managers are aware of your intention to sell. The buyer feels more comfortable if the management team has embraced your intention to sell. But the timing is a delicate decision and the way you present your intention to sell is very important. You may have reached a stage where you no longer want the responsibility or financial commitment of growing the business further. Your managers probably understand this and likely relish the idea of new growth prospects and development of the business by new owners.