Before shutting down, spend a few months testing buyer interest on platforms like Acquire. Have your financials, metrics, and operational details ready to show potential buyers. You might find someone willing to acquire the business even when your original goals fell short.
Do not give up too fast. A lot of founders I talked to said, yeah, we didn't hit the goals. We decided to just flip off the business, close the business. And they never even try to explore a platform like acquire to see what potential is out there. What's three months of your life of going to the platform, giving it an extra shot? If there is a better port, who knows, maybe someone does even better than you and that should be something you're happy with. And if a founder is looking to sell, I would say do not underestimate the importance of having strong documentation to impress the buyer from the get go.
I think if you're wondering whether you should look to sell your business or if there's a buyer or if there isn't a buyer, the main way to find out is to go look. And if you don't find one, then you have your answer and you know what to do at that point. But I mean it's at least a door I think every founder should explore.
The Buyers Who Made the Move: What They Bought, How They Did It, and What Happened Next
