How Do You Find Hungry Buyers For Your Business?

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Well, this comes around to thinking, and thinking strategically – that word I keep mentioning. The most money that you’re going to get will be if you can make a sale on a strategic basis. An example would be a larger business taking your customer list and the business that you’re currently doing and then cross-sell and upsell to that client base.

You have to sit down and really brainstorm about what other businesses might be complementary to your business. Not necessarily a competitor, though that is one strategy. A competitor might buy your business. But who might be a complementary business?

As an example, let’s use a small cleaning business. When I say small cleaning business, let’s say the turnover is maybe $700,000-$800,000. So, a reasonably sized business.

Who else might want to talk to the clients the cleaning business has? Ones that they could offer complementary services to. It could be a security company, a maintenance company or gutter cleaning. Think about complementary services that they could offer.

You are determining who your clients are and who else wants to sell to those clients. And it might not necessarily be the same product. It could be a completely different product that they have already, but they want to sell their products to your target market. It multiplies it. This is what I mean by a strategic buyer.

Another example of a strategic buyer is what is called an industry roll-up. You might have some big players that are looking to get a larger market share so they look at going out and buying up all the smaller businesses. Those business transactions are often quite lucrative.



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