A founder walks through what buyers actually want when you're selling your startup: operational independence so it runs without you, consistent revenue and clean financials, and realistic timing. The goal is making your business look like a business, not just your job.
Could a new potential operator step into your business and run things? Or would the entire business just fall apart without you being there? These are all things to start thinking about today and start working on to improve your business. Questions Also understanding just how long it takes to sell a business. On average, it can take 4, 5, 6 months from start to finish. But let's say it takes a month to get ready to go to market. It takes a month to start organizing your financials and clean up your operations and creating marketing materials. Then we build a buyer list and then we reach out to these different buyers and then you have these conversations with buyers. That whole process can take a great deal of time. The earlier you start preparing for this, the smoother and more lucrative your exit is going to be. For not all businesses sell and buyers have a checklist of things they want to see. They want to see constant revenue and profitability. They want to see strong operations, growth potential and clean financials. So pro tip. Put yourself in the buyer's shoes. Would you buy your business.
The Buyers Who Made the Move: What They Bought, How They Did It, and What Happened Next
