The subject of selling companies is inundated with information and instruction, but unfortunately, a significant portion of it lacks real-world deal-making experience. Consequently, it becomes challenging for business owners to make informed decisions and maximise their returns on the most important sale they will ever make.
At INSIGHT, we firmly believe that selling a company requires a proactive sales and marketing approach, therefore over the next eight blog posts we are taking each of the eight principles that stem from that conviction. These principles are not just theoretical but have been repeatedly tested and validated over our extensive history of selling companies in a significant number of industries.
Principle Five - Look Beyond the Obvious
If you limit your search for a buyer to only the most obvious candidates, you may miss out on better opportunities. It is essential to expand your search and consider potential acquirers outside of your industry, rather than just focusing on competitors.
Surprisingly, some of the best buyers come from unexpected places. Typically, your ideal buyer will be complementary to your business, rather than a direct competitor. Their products and services will likely complement yours rather than compete with them. What is crucial is that you share a customer base. In fact, most of the deals we facilitate involve complementary buyers who share customers with the seller.
For further information you can read our guidebook:
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