Take the Quiz: Do You Know How To Sell An Internet Business?

It might seem easy, or somewhat intuitive, knowing how to sell an internet business, but in fact, for most entrepreneurs it’s filled with trepidation, endless questions and savvy negotiations. Think you know how to sell an internet business? Take the quiz and see for yourself.

• True or False: It’s best to put up a website for sale by owner because then you can get the maximum profit and you won’t have to share it with anyone.
• True or False: Your price is your price, stick to it and never back down because only then will you get the maximum profit that you deserve for the hard work you put into your website company.
• True or False: Be aware of your financials. It’s best to fully understand your own company and not just leave it to the accountants and advisors.
• True or False: It doesn’t matter when you put a website up for sale, today or three months from now, it’ll all turn out the same.
• True or False: Document the process of your website company. Buyers appreciate having a manual or guide to help them when they take over the company.
• True or False: You will need to sign a non-compete when you leave your company, and you are prepared to do so.
• True or False: Every potential buyer should be looked at seriously because you never know who might end up taking over your business.
• True or False: You should use professional and experienced brokers for internet businesses for your company valuation instead of the ones found on the internet.
• True or False: A real estate agent for a brick and mortar business is just as qualified and knowledgeable on how to sell an internet business as brokers for internet businesses.
• True or False: Confidentiality is a key concern when selling a website business to maintain the company’s reputation and worth.

Answers:

• 99% of entrepreneurs who put up their website for sale by owner fail. Boutique brokerage firms don’t take a commission until they sell your website.
• When selling your website, always be prepared to negotiate.
• Another set of eyes is always helpful when figuring out where to cut and make changes within the company.
• Timing is always important when selling a website, once a closing period has been identified, the owner can back plan accordingly.
• Documenting the processes of your company makes it more attractive to buyers and also easier for the buyer when they take over, accounting for a smoother transition.
• Figure out how you will make money after the sale. A non-compete prevents you from starting up a similar company so you’ll need to have a different idea in mind.
• Only professional and experienced brokers for internet businesses know which buyers are for real and which aren’t.
• There are many factors involved with a company’s valuation that it’s best to trust the professional brokers for internet businesses with this task.
• Selling commercial brick and mortar properties is vastly different from selling online businesses.
• Maintaining confidentiality helps the seller, the buyer, the employees, vendors and suppliers keep a status quo.

Think you’re ready to sell your internet business? Contact professional brokers for internet businesses today for a free consultation and business valuation.