Steps to Get Your Business Acquired Smoothly

Written By Steps To Faculty Published September 30th, 2010

Becoming the world’s best at something can help you acquire a great amount of business in today’s world. Back when you were starting your own business, perhaps this was your goal. However, being well-known for something is also an attribute that can help you sell your company to a buyer. If you looking for someone to take your business off your hands, here are six tips to get your business acquired.

Step 1. Offer something that is difficult to replicate.

If all you have to offer a buyer is a mishmash of stuff, they might argue that it would be easier to build what you have, drop the price, and hire sales people to steal your customers. However, if you have something truly unique, the acquirer will be more inclined to buy your company.

Step 2. Get a partner.

Partnerships have many benefits, one of which is to form early relationships with potential future acquirers. Then, when you are ready to move on from this business to another venture, you will have someone interested in what you have waiting on the back doorstep.

Step 3. Tell them your intention of being for sale.

There is no need to beat around the bush. Plus, you will get a straight forward answer of either, “We have interest in your company, let’s talk,” or “We have no interest.” Of course, you always run the risk of receiving the second response, but this is the best way to approach potential acquirers you already have a relationship with.

Step 4. Prepare a concise presentation.

Describe the business from the potential acquirer’s point of view. You are likely feeling proud of what you have accomplished since starting your own business, but be sure to focus on the future potential of the company and its earnings.

Step 5. Do not let the momentum die.

Strike while the iron is hot and be prepared to answer all questions presented to you. The easiest way to do this is to have documentation readily available. Having multiple potential acquirers will help keep everyone moving along.

The worth other put on your company since starting your own business and the time it will take to complete the transaction should be realistic. Do not even discuss valuation until you get a potential number from the buyer and expect the process to take several months. Please visit stepsto.com for more great business advice.


Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.