If you’ve decided to sell your Internet business, it’s important to follow proven methods for quickly doing so. Here are three steps to speed up finding the right buyer for your e-company.
1. Know The Real Value
Your privately held Internet business is not Google or Facebook. This means there isn’t a public traded stock price to use to value your company.
Do your research to determine what your company is worth, what you’d like to get from the sale, and what’s your bottom line (the least amount you’ll accept).
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You should also decide in advance if you’ll be willing to provide seller financing for some of the sales price.
By preparing before you list the Internet company for sale, you’ll make it much easier on yourself and prospective buyers to reach a deal or quickly reject an offer that doesn’t meet your needs.
2. Prequalify Prospective Buyers
The Web has many get-rich-quick types who will be interested in buying your venture even though they have no realistic means of doing so, i.e. they’re broke and no one will loan them the funds to purchase your e-commerce company.
To avoid wasting your time dealing with these types, you may wish to prequalify prospective buyers by making sure they have the financial means to purchase an Internet company. One method of doing this is to negotiate only with accredited investors who meet certain net worth requirements (the amount varies by country).
3. Retain an Experienced Team of Professionals to Sell Your Internet Business
If you’ve never sold an Internet company before, chances are you’ll want to speed up the process by retaining an experienced Internet business broker, Internet business attorney, and a tax professional (e.g. C.P.A.) who understands e-commerce.
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Your team will be able to put your business before prospective qualified purchasers plus negotiate and structure the deal in a way that reduces your tax and other liabilities in the process. The amount you invest in their professional services is frequently exceeded by how much they benefit you in getting your Internet business sold quickly and for a fair price.
So how do you get started? You’ll want to schedule a telephone consultation with Internet Lawyer Mike Young to map out a plan to sell your Internet business.
