The world has incessantly become more digital over the past three decades, particularly in business, and this is a trend that has only been accelerated by the COVID-19 pandemic. It’s no surprise, then, that company sales are increasingly taking place partly or completely online, from marketing to closing the deal.
While the importance of face-to-face communication to much M&A activity is likely to remain significant, online services and resources now enable deals to be conducted remotely, which is valuable in the increasingly connected, globalised world of business.
If you’re a first-time seller or have limited experience in disposing of a business, then the internet can also make the process far easier and less daunting, ultimately helping you to make a successful sale to the right buyer that reflects the true value of your business. Here are some of the core advantages to selling your business online.
Cut out the middle man and extend your reach
If you’re selling your business through a professional broker, then you’ll be tapping in to established connections and a solid network of buyers. This is great if you want to take a more hands-off approach to finding buyers and engage the expertise of someone who’s gone through the process countless times.
However, there are drawbacks to using a broker, namely cost and the limitation of their reach. This is where the internet comes in. Advertising your business for sale on an online platform, such as Business Sale Report, can help you to reach an exponentially larger pool of potential buyers than you could with a broker and at a fraction of the cost.
Listing sites come with a pre-existing market of dedicated, experienced and serious buyers, that are already available and gathered together. Utilising a service such as this, you should have little problem attracting interest through simple, high-quality marketing.
Move at your own pace
If you’re a business owner planning a sale of your company then you’re most likely juggling the day-to-day running of the business with the various stages of your sale. Harnessing online resources can help you to streamline the tasks associated with a sale and proceed with the deal at your own pace, without negatively impacting your company’s everyday operations.
With an online listing platform, you can upload the details of your company, contact information and the relevant facts and figures into one dedicated place, then wait for potential buyers to approach you. This enables you to arrange meetings and talks at your leisure and fit these stages around the ongoing operations of your business.
A wealth of online resources
Beyond marketing your business to potential buyers, the internet also offers a wealth of resources that can support you throughout the sale of your business. Everything from guides, tutorials and professional advice are readily available online, while apps enable other stages of a sale to be carried out remotely.
The pandemic saw a huge uptake in technologies such as Zoom and this extended to the world of M&A, where video conferencing became a key part of the negotiation process during lockdown. Under social distancing, sellers also increasingly utilised technology such as video and AI to enable potential buyers to conduct virtual walk-throughs of businesses and view assets remotely.
With restrictions now largely lifted worldwide, these technologies can still be useful if you want to really widen your pool of potential bidders and attract interest from far-flung buyers. They can also deliver a high degree of convenience if, for instance, there are scheduling clashes between yourself and interested parties. Just another example of how the internet can enable you to fit your sale process around you, rather than letting it dominate your time.
Overall, the internet offers a range of opportunities and services to help you during your business sale. When used correctly, these can ensure a smooth, successful sale process and, for your business, a seamless shift to new ownership.