Who Will Buy My Business

I am often ask “How do I find a buyer for my business?” It’s an obvious question that I get when I tell business owners that we build businesses for sale and lifestyle.

Think about what it is that people are buying when they buy a business. There are three types of buyer;

(1) Investor buyer
(2) Lifestyle buyer
(3) Strategic buyer

An investor buyer generally buys a business with a “guaranteed” maintainable profitable cash flow with an opportunity to grow the business and sell later on at a profit.

A lifestyle buyer will buy a business to achieve a “sea change” in lifestyle. In other words they are often buying themselves a job (mowing lawns, cleaning cars, serving coffees, fitness trainer etc). They just want to be their own boss and enjoy what they are doing.

A strategic buyer will buy a business as part of a longer term plan – it’s strategic. It could be to gain market share, remove a competitor, asset strip the business, to get access to a product service or IP.

How you prepare your business for sale will depend upon what type of buyer you are trying to attract. Most business owners never consider the “type” of potential buyer – this is mistake. Who would be attracted to buy your business? Think about it and in future posts we will consider the buying motives of the different types of buyers.

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First SBB Connect Group – Melbourne

It’s been a while since I made a post.

I have been focused on getting our first Streetsmart Business Builders Connect Group launched. A Connect Group is a select group of up to 20 business owners who want to meet regularly for a couple of hours a month to share and learn ideas to enable them to build a business that will run without them.

It is also a way for us to spread the Mal Emery philosophies and millionaire making marketing ideas to more people. All members of a Connect Group get a Mal Emery Midas Touch CD of the month, every month, where Mal grills the worlds leading entrepreneurs (including in Australia) for their success ideas and techniques.

A Connect Group is a working group not a social networking group or a referral group. For more information on Connect Groups in your area, drop me an email.