Proactive Approach to Business Sale: Identifying Potential Buyers
Summary:
In this video, Kerry advises viewers not to wait until they’re ready to sell but to start making a list of potential buyers now. He emphasises the importance of identifying these potential buyers, as they could become significant customers.
She categorises buyers into strategic acquirers, who value the business based on its potential for them, and financial buyers, who evaluate future streams of income and sustainability. Kerry emphasises that the majority of sales are financial sales but encourages entrepreneurs to seek strategic acquirers who can do more with the business than its current owner.
Transcript:
Don’t wait until you’re ready to sell. Start making a list of the possible buyers now and court them. Think about who they might be because they could be your biggest customer ever.
Strategic acquirers buy your business based on the value that they can create from what you’ve already done. Financial buyers will pay you looking at your future streams of income and what’s sustainable in that regard. I have to tell you that the majority of sales are financial sales. That’s what happens, but if you can figure out who can do more with your business than you have or bits of it, then you might find yourself a strategic acquirer.
Recent Comments