In a recent email, I talked about how buyers should already be enthusiastic about the prospect of acquiring your business.
Remember, a buyer shouldn’t need to be convinced!
Their interest should be inherent, and not something you have to fight for.
And it occurred to me, after that email, just how critical this point is for any worthwhile business transaction.
So I went a little deeper on the concept in this video:
Imagine having two (preferably more) potential buyers vying to acquire your company, progressing from “liking” to “loving” to absolutely “needing” to own it! This dynamic not only guarantees a favorable deal for you but also brings about a significant increase in the valuation of your company—higher than you might have imagined at the start.
However, reaching this point is not without its complexities, as it requires a strategic asset or aspect of your business that the buyer finds valuable enough to integrate into their own business.
This could be anything – a robust customer base, skilled employees, your unique business model, proprietary software, and countless other factors.
But if you manage to make your business a ‘must-have’ for a group of buyers, you’re setting the stage for a fierce bidding war.
At that point, you can sit back with your popcorn and watch your company’s valuation skyrocket!
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