A seller documented everything about their e-commerce business before handing it over: financials, operations, step-by-step processes. Andrew Gazdecki explains how a detailed transition document reduces buyer risk and makes the sale easier by showing exactly what they're getting and how to run it.
It was just kind of gathering all of the financials and everything, just getting all the information nice and clear for them. But then once I did that, I actually set up like a nice handover doc because I just wanted it to be seamless for them. So I had like everything perfectly for them. And the one that I sold a couple of years ago, I remember I just kind of handed over the keys and I was like customer support. They kept on asking me. The first one didn't know how to run an e-com brand, so I felt like I was kind of coaching them at that stage as well.
The transition doc is huge. That can be a good way to secure buyers as well because you're specifically outlining like what they're buying, what it's going to happen when they transfer over the funds, step by step, so they can easily wrap their head around everything. Because there's so many moving parts to every business. So I, I think that was super smart.