Almost every business deal requires a strategy for a successful negotiation. A successful negotiation can make a big difference for the success of your business and your career as well. However, when it comes to the emotional decision to sell a business, not all business owners think rationally during the negotiations. Here are some tips you should follow, when negotiating a business deal:
1. Know Your Must Have: It doesn’t matter if you are a seller or a buyer, you should know what you must get out of that negotiation. Many people go into the negotiation with a vague idea about what they want. You should be firm about what you want but realistic as well.
2. Do Your Research: You should always do a thorough research and homework before going in for the negotiation. If you want to be effective and fully engaged, you have to have a plan. Gather as much information as you can and gain knowledge about market condition before entering into the negotiations.
3. Establish a Positive Tone: It’s a common misconception that beating the other party is an important part of a negotiation. However that’s not true, as you need to build a strong relationship with the other party during and after the negotiations.
4. Employ Professional Help: M&A firms or brokerage firms can greatly help in negotiations, especially in getting the right price. Their expert professionals will help you in every step of the negotiations and ease out complicated tasks and documents for you.
5. Put it in writing as soon as Possible: As soon as the negotiations are completed and deal is finalized, make sure to have the other party sign a legal contract with all the terms negotiated in it. The longer it takes to put a deal in writing, the more likely it is that the other side may try to renegotiate.
If you’ve an online business for sale, consider one of the most reputable M&A Consulting firm-ValleyBiggs. They have a team of experienced online business brokers who knows how to attract potential customers who can pay a fair amount for your business. You can call them today at 800-980-4145 to fix your free consultation.
Internet has allowed entrepreneurs to start businesses and earn money through channels that were nonexistent earlier. The presence of social media and easy-to-use website builders has allowed numerous businesses to rise. However, starting a business online, especially if you newbie, is a difficult task. Stiff competition can make earning more difficult, but not impossible. If you want to start your own online business, here are some points you should consider:
1. Find a Niche: Before starting an online business, you have to find a niche product or service that you want to sell. Not only should you have a name for the product or service, but also a thorough description of it as well.
2. Build a Plan: Any business without a good mapped out plan has very high chances of failure. You need to create a good, sophisticated business plan to ensure progress and success of the business. A business plan should include the approach for financing, building and marketing of the business.
3. An Appropriate Domain Name: You should build your own website and purchase a unique domain name that fits your business. Also, your website should be easy to navigate and understand, so that your customers don’t face any issues.
4. Easy and Secure Payment Gateway: You should have an easy to use and secure payment gateway integrated in your website, so that not only can customers easily make payments for your products or services, but their information can also be kept safe.
5. Feedback: When starting a business, feedback is very important as it tells you about what are you doing right and what are you doing wrong. Feedback can help you gain knowledge about customers’ sentiment towards your business and how can you improve what they don’t like.
ValleyBiggs is an M&A firm that offers M&A services to the customers who want to sell or buy a business. The company has a team of experienced professionals who help their customers every step along the way. The organisation offers various services including acquisition assistance, exit strategies, business evaluations, Buy-side M&A services, Sale-side M&A services and more.
Online businesses are booming and it is a perfect time for anyone to buy an online business. Buying an online business can be a very difficult task. If you don’t know where to look for online businesses that are for sale, the whole task can become very complicated. Therefore it’s important for you to know where you can find an online business ready for sale. Here are some ways you can find an online business for sale:
1. Contact Directly: You can contact online business owners directly and check if they are interested or willing to sell their business. When going for this option, you should conduct thorough research about the owner as well as business, before contacting them. You can also use tools like Alexa, Ahrefs and SEMrush to gain knowledge about the state of the business.
2. Marketplaces: Marketplaces connect online business sellers and buyers. Sellers list their business on online marketplace. Some marketplaces such as Shopify Exchange, Empire Flippers, help facilitate the payment process and administrative switch over of businesses.
3. Auction Sites: Auction sites allow buyers to bid on an online business. Using this platform, you can a business for the prices what you’ve never expected. There is a risk with buying an online business from an auction sites as anything you know about the business is the information that has been listed by the sellers.
4. Brokerage Firms: It is a much more personalized and individualized experience than a marketplace or an auction site, when you buy an online business through an M&A firm or a brokerage firm. They are professional with a large database of sellers and promote selling of businesses that are legal.
ValleyBiggs is a reputable M&A firm that holds a team of highly skilled and talented business brokers, who render top class services of buying and selling businesses. They have purchased, managed and sold their own online businesses and have accumulated not only a wealth of knowledge, but also a network of professionals to help them with every step of the sale. Besides this, the company also provides turnaround consulting for businesses that are struggling.
Selling an online business within a reasonable time period is a difficult task. It is important that sellers don’t let frustration get in their way. As most business owners are not experienced in selling a business, they will make mistakes along the way. Here are some mistakes or pitfalls you should avoid while selling your business:
1. Insufficient Preparation: It is one of the most common mistakes that sellers make when selling their business. You should always have documents regarding the company especially financial documents, ready with you as most buyers ask to take a look at them before closing the deal. You should also have a reputed financial consultancy audit your company before you put your business up for sale.
2. Not Hiring A Brokerage Or M&A Firm: Many sellers don’t hire a brokerage or M&A firm, so that they don’t have to pay the extra money. However it has been noticed that hiring such firms usually results in sellers getting more price than they initially asked for. Such firms take care of everything ranging from preparation, showing the business to potential buyers, marketing and negotiation.
3. Don’t overprice: Inexperienced sellers usually have a habit of setting a price higher than the actual value of the business. This is especially because the seller thinks that emotional investment equals more prices as well, which is not the case. Sellers should themselves or hire a professional to evaluate the business and set the price accordingly.
4. Breaching Confidentiality: Confidentiality is a very important factor when it comes to any kind of deal. If even a word gets out that your business is on sale, it could adversely affect sales and your relationship with your staff. Hiring a good brokerage or M&A firm ensures that your business is marketed for sale, while at the same time, maintaining confidentiality.
5. Hands-off Approach: Many sellers think that if they have assigned th an M&A firm they have nothing to do with the selling process. You should always be proactive in the selling process as you have the knowledge regarding the business that an M&A firm don’t have. You can also assist the firm in marketing the business without interfering with their procedure.
ValleyBiggs is one of the most sought after names in the mergers and acquisition industry for providing top-notch quality services of buying and selling business at the most competitive prices. They have been in this industry for years and so far have helped a huge number of individuals in earning a great deal for any business they wish to buy or sell.
Buying an online business is not only the beginning of an exciting new venture but also boosts your growth strategy and profit as well. It requires time, ample research and money. You need to pay a very close attention to details before buying a business. Even if a deal sounds good on paper, there may be some things that might go wrong, especially after buying the business. Here are 5 red flags you should watch when buying an online business:
1. Withholding Owner: While most owners will reveal business information but they might downplay valuable business-related information. It is also important to know what the owner plans to do after selling the business, as the owner might be considering opening a business competitive to the one you’re buying.
2. Failing Equipment: Replacing or repairing faulty or failing equipment is a difficult and expensive task. You should make sure that every equipment is in working business. You should also make sure that the business owns the furniture and equipment outright and it is not leased equipment.
3. Financial Inconsistencies in the Records: You should check if the owner has had the business audited by a reputable CPA firm. If the owner says that he had the business audited by someone he knows, it should be a big no-no for you. You should ensure that the business has a clean financial record and you can also have another CPA firm audit the business.
4. Taxes: It’s critical to review business taxes before buying a business and make sure that the owner is up to date with taxes. You should check especially for sales tax with small businesses, as they might undervalue their income to pay less tax. If the taxes aren’t properly paid, you will be held responsible for it after you buy the business.
5. Debts: If an owner has outstanding debts, make sure that he pays them before you buy the business. Debt collectors can get messy and you don’t want to get involved in that hassle.
When looking to buy a business, you should contact ValleyBiggs as it will help you go through the process smoothly and hassle free. The company has a team of skilled professionals with years of experience under their belt who
Buying a business is an exciting, but a complicated venture. For a smooth and prosperous acquisition and transition, you need to make the right decisions when buying a business. You should do your homework and research before buying a business. If you are aware of what mistakes buyers often make, you can avoid potential financial and interpersonal difficulties within the company later on. Here are some mistakes, you should avoid when buying a business:
1. Buying the Wrong Business: When buying a business, you should look for a business that suits your skills, knowledge, interests, and personality, or the business might not be successful. Choosing to buy a wrong business might result in a lot of frustration, failure and debt.
2. Not Knowing Why The Business Is Being Sold: Owners might say that they are selling because they might be retiring or they want to move onto another venture. However that might not always be the case, the business might be on sale because of tough competition, low ROI or more. You should find out the right reason before buying the business as it will be a big factor in the future of the business.
3. Ignoring Company Image and Culture: Businesses have an established image and culture that helps reflect their values and what they are. Clients are familiar with company image and culture, and changing it drastically might turn them away from the business. Altering the company culture can disturb flow and communication between employees and management.
4. Not Knowing The Value Of The Business: Before buying the business, you should participate in a detailed financial analysis of the business you want to buy. To determine the value of the business, you should review statements, balance sheets, key assets, contingent and actual liabilities, and cash flow statements.
5. Signing Any Document in Your Name: You should not put contracts, loan agreements, or the lease on your name or sign any document on your name. For any paperwork purposes, you need to have or set up a corporation or LLC to buy the business. This will protect your personal assets from the risks of the business.
The buying process can be confusing, especially if you’ve never did it before. If you want buy a business, contact ValleyBiggs, an M&A firm whose team of expert professionals helps you at each and every step of the process. Besides assisting in the buying process, the company also offers various services including acquisition assistance, exit strategies, SALE-SIDE M&A services, business evaluations and many more.
Internet provides you with incredible potential to create a highly successful business. There are many reasons that entrepreneurs are choosing the internet to build an empire. This is mainly due to the fact that you can start the business with a low budget and the business would be location independent. You can expand and widen the reach of the business better online. However, it’s not as that easy as it seems especially when you’re starting first time. Here are some mistakes you should avoid while buying a business:
1. Not Having A Plan: Before starting an online business, you should have a plan in place for your business. You should already have a niche, target audience, name, tagline, monetization strategy and market strategy in mind. Not having a clear plan will result in lose you money.
2. Ignoring Customer Service: The service you provide to your customers will determine how many of them will come back and the word, they will spread around. You should provide the best possible service to your customers. Focus on what your customers are interested in, and give them a reason to keep returning to your business.
3. Not being unique: There are many online businesses belonging to many genres. You need to make sure that your business stands out from other online businesses especially the ones in your business category. Many customers may check your business’ website on a daily basis, but you need to stand out to make sure they buy your products or avail your services.
4. Not Focusing Much On Social Media: Social media is the best way to spread the word regarding your business. Social media sites like Facebook and Pinterest are a great way to boost your product sales. To build your brand, LinkedIn is one of the best social media handles. You should also focus on customer review sites such as yelp to gain an insight into the sentiments of customers towards your business.
5. Taking Too Much Time to Launch: In business, timing is everything. Taking too much time to launch your business is a big mistake that many owners make. This is mainly because owners want their idea to be executed perfectly, when just good will do. A long time to launch may cause you to lose the competition.
ValleyBiggs is a renowned business broker who has years of experience in buying and selling small to medium-sized businesses. They help sellers find potential buyers available on the market. Individuals planning to sell their business can contact them for their needs.
Selling a business is a hectic task and sellers get so caught up in the hassle of it all that they forget about how the employees will take the news. Selling your business might be the only thing you are focusing on, but don’t lose sight of your day-to-day business and your relationship with your employees. It is hard to predict how the employees will react to the deal and how it might affect the business. Here are some tips on how to tell your team about the sale of your business:
1. Tell them after the Deal is closed: It is always best to tell your employees about the sale after the deal has been finalized. If you disclose the information while the deal is not finalized, you could jeopardize the deal, the status of your employees and relationships with your clients.
2. Timing: You should tell your employees immediately after the deal is finalized. Don’t wait for too long and tell them before they learn about it on the internet or somewhere else. Tell them why you have sold the business as well, to help them understand.
3. Tell Key Employees First: Let the key employees and managers in the business know about the deal first. Just let them know how important it is not to discuss the deal with other employees.
4. Let them know Specifics: Tell them the specifics when it’s time. Let the employees know how their employee contracts will be affected by the sale and how many of them have been retained by the new owners if any.
5. Provide Support: For those employees who will no longer be a part of the business, offer them letters of recommendation. You might need to pay them compensation as well. Employees have rights and you will need to meet them after termination.
If you are interested in buying a website business or want to sell a website business, contact ecommerce M&A broker, ValleyBiggs today for information on how you can get a free consultation. Call 800-980-4145 to find out what this M&A advisory firm can do for you.
In order to be successful at the closing table, an exit strategy needs to be attractive to everyone involved. Now, while selling a website, the exit strategy is the result of streamlined effort and hard work. ValleyBiggs, a renowned M&A consulting firm, are experts in handling mergers and acquisitions at the mid-market level, and very well know that before a company’s exit strategy can be created, a review of the foundation itself must be performed to make sure that the company is in the right stage to achieve a seamless transaction. An exit strategy that is beneficial to everyone involved, founders and investors, is hammered out so that when the time comes to close, everyone walks away happy.
Selling a website business is seasonal and with their extensive experience, they have seen everything in the industry before, giving you, the entrepreneur, and the advantage of their wisdom. Remember, they are so dedicated to their clients that they don’t take any commission until their client’s site has been successfully sold. Trust in acquisitions and mergers brokers, ValleyBiggs, to know when the time is right to place the company up on the market.
Some of their areas of wisdom include financial and strategic due diligence, model target development, valuation, and analytics, acquiring entity preparation for acquisition and post-sale integration, review of current marketplace deals, deal financing, post-transaction operations and transition services, lead negotiations and many others. It’s important for entrepreneurs who are in the position to sell their digital properties in the mid-market niche to remember that at ValleyBiggs, they aren’t just the guys behind the curtain selling the businesses, their knowledge runs deeper than just mere finances. They too, have worked on the operational side of their own businesses so they are in the best position possible to guide the entrepreneur toward the best exit strategy possible.
If you’re thinking about selling your eCommerce business, be informed before initiating the selling process. You might have some ideas on how to sell an online business, but reality is different. It requires a lot of considerations and even a veteran professional not able to do it alone. So, it is important for entrepreneurs to seek a qualified online business broker. Not every business broker delivers excellent customer service hence you should careful while choosing a business broker. With so many online business brokers available, it might be difficult to determine which one is the best to work with.
There are a few factors to consider while deciding on a business broker including –Will they give you an accurate website appraisal for free? Have they been working in the industry for decades? Do they consult with you for free?? Do they have a long list of clients with positive testimonials?
The website broker firm that you choose must have a network of professionals available to them such as due diligence experts, certified public accountants, banks, deal financiers, and others. The wider the network of professionals around the firm, the more likely they are to get your site sold for the best price possible.
When it comes to experience, they must have industry experience in buying and selling different types of web properties, including software companies, eCommerce websites, eBay businesses, Amazon businesses and many more. Apart from these, the online business broker that you choose should make their track record readily available.
If you’re ready to sell your online business contact ValleyBiggs today for a free consultation and business valuation. They have a team of skilled team of professionals who have professional insights and work hard to meet the needs of their clients. They provide M&A advisory services for mid-market companies that fall within the tech, website, and internet niche.