Andrew, MicroAcquire's founder, walks through how to handle buyer requests on the platform. He covers evaluating which buyers are serious, vetting them properly, and responding to inquiries without wasting time on tire kickers.
How's it going? This is Andrew, the founder of Microacquire. And in this quick tutorial I'm going to be going over how to respond to private requests from buyers as they reach out to you to learn more about your startup. So in this example, this is a example startup page where I have a profile filled out and where you're going to want to go is private request. This is an area that's going to contain everyone that's reached out for additional information so they can view the private information of your startup, which includes your startup name, your email address and any documents that you've uploaded. Now, before granting them access to your startup, you are able to send them a question such as let me know if you're able to transact a deal of this size or I have a question about your background. You can Also click their LinkedIn page to see who they are so you can get an understanding of them as a person and if you feel that they would be a good fit for your business. And as you can see, usually quite a bit of buyers reach out. And one thing to look out for too is buyers that have a blue star are premium buyers, which means they're typically higher quality. They're usually more acquisitive in terms of actually being serious about doing a deal. So my best advice is, as you go live on Microquire, is really try and establish a phone call with buyers if you can. That's a great way to answer questions quickly. There's a great saying that a five minute phone call is just the same as five hours of sending emails back and forth. So that allows you to get to know the buyers well and really feel if that's a person that you're going to want to pass your startup on to. And you can get a lot of questions out of the way and that usually can give you a good indication if the buyer is serious just by asking, are you willing to take a phone call to answer any questions you might have? And if you're selling a larger business, let's say it's in the seven figures. One question I love to ask is just asking, you know, how would you fund the business? That's a very straightforward question. If it's, you know, know a million dollar startup, just asking them, how would you fund it? Before you answer any additional questions and if you have any questions after you go live, a buyer reaches out with a question that you might not be familiar with or you'd like advice on, you know, how to specifically answer that question, feel free to reach out to me@AndrewiCquire.com would be more than happy to help you with anything during the process of selling your startup on Microacquire. And again, I'm really excited to help you meet potential buyers and hopefully I can help you get acquired. Thanks.
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