![]() ![]() But the truth is, a fantastic broker will help you maximize the value of your business and make the selling process less stressful. Want more direction? Here’s our full piece on how to pitch your ideal buyer.īrokers tend to get a bad rap. I managed to create a bidding war, driving up the acquisition price, and I sold in early 2021. My goal was to answer as many questions as possible in that document, so only serious buyers would proceed. Once a company expressed interest, I shared with them a 10-page Google Doc that laid out all the details about my business: metrics about our community, how we made money, even why I wanted to sell and why I thought it was a good investment for a buyer. How’d I do it? I already had offers from competitors who had approached me about purchasing the business, so I asked a few other parties whether they might be interested. Lauren Gaggioli sold her test prep course businessĪnd I took this route when I sold my content site, The Write Life, for mid-6 figures.Dan Radin found a buyer for his podcast production platform, Auxbus.Laura Roeder sold MeetEdgar, a SaaS, to SureSwift Capital.More on that in the next section.Ī few examples of companies that sold after the founder pitched an ideal buyer: And if you’re lucky, they might even come to you with an offer first.Įven if you bring your own buyers to the table, you might want to work with an advisor or broker to help you get the best deal. This strategy gets you on their radar, and they’ll already be familiar with your value if you end up pitching them on an acquisition. Try to create partnerships with those companies, or at least develop a friendly relationship with them. If you’re thinking of selling your company down the road, it’s smart to build a list of potential buyers early on. In an ideal world, you’d sell to a strategic buyer : a business that can not only replicate and improve upon the revenue-generation machine you’ve created, but can use it to earn more from their existing assets. Who else wants to reach or serve the same people you reach? But you should also think beyond those companies. The most obvious targets are competitors in your space. To succeed, you first have to ask yourself: who might want to buy my company? It can also be the most challenging approach, and it requires the most work. We’ve listed this option first because it’s arguably the best way to sell your business - if you can make it work. ![]() Wondering which of these selling strategies might be a fit for you? Here’s how each of these options work. Most ended up selling their companies in one of four ways: We’ve interviewed dozens of founders of online businesses to share their stories. 4 common ways sellers find buyers for their business Because in the end, you get to decide how to find the best buyer for your business. Most of all, it depends on your preference and what you want to get out of a sale. The answer depends on several factors, including the type of business you run and how much revenue you’re bringing in. What’s the best way to find a buyer for your online business? ![]()
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