Web Equity Show

S03E09: Deal Negotiations

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Subscribe to our VIP LISTNegotiating deals is kind of like driving cars.

It’s easy to point out others that are bad at it, but nobody think they’re bad at it themselves!

In this episode, we dig into some of the finer points on negotiating a deal from a seller’s point of view. We look at some of the Do’s and Don’ts when it comes to working with buyers, brokers, and interested parties.

We’ll walk you through the process of receiving the first offer to coming to an agreement that will ultimately allow you to sell your business.

This can be a very exciting (and nerve-wracking) step in the process — especially if you’re a first-time seller.

We’ll help demystify deal negotiations for you in this episode.

Like the show? Please stop by iTunes and leave us a review! We’ll give you a shout on the podcast and buy you a beer next time we get to meet you in person!

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What You’ll Learn From This Episode:

  • DON’T take it personal
  • DO stay open to “creative” offers
  • DON’T make promises you can’t keep
  • DO keep your options open with other potential buyers (until the last minute)
  • DON’T hide anything or ignore points made by the potential buyer
  • DO find out as much about interested buyers as you can
  • DON’T think the broker is ALWAYS aligned with your interests
  • DO trust your broker to negotiate the deal

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S03E07: Promoting Your Business For Sale

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Subscribe to our VIP LISTIn our last episode we covered the process and the platforms you can use to list your business for sale, but there’s another question we need to answer:

What can you do to advertise or promote your listing?

Just getting your business up and listed for sale isn’t enough. You need to find qualified, interested buyers and get them to review the listing.

In today’s episode we look at some of the tips and tricks brokers use to get interested buyers reviewing your business for sale and some additional things you can do as the seller to promote with a broker or with a DIY approach.

Some people think, “If you list it, buyers will come” but that’s simply not true. We’ll dig into why that’s the case in this episode and show you what you can do to get your business sold quickly.

 

Like the show? Please give us a review on iTunes! We’ll give you a shout on an upcoming show and we’d love to hear your feedback!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • Promotional Tools Brokers Use
  1. Email Promotion (Initial blast, targeted blast, highlights)
  2. Seller Interviews (Written/Audio/Video/Live)
  3. Listing Syndication
  4. Podcast Promotion/Highlight
  5. Social Media
  6. Remarketing/Retargeting
  • Promotional Tools You Can Use Yourself
  1. Interviews (Written/Podcast/Video)
  2. Niche community posts
  3. Strategic acquisition targeting

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S03E06: Listing Your Business For Sale

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Subscribe to our VIP LISTWhere can you go if you’d like to list your online business for sale? What are the pros and cons of listing privately vs. using a broker? What information should be included in the listing?

These are the questions we’ll answer in this episode. We look at the four main ways to sell your online business and discuss the advantages and disadvantages to each.

After listening to this episode you should have a strong idea on the best place for you to list and ultimately sell your online business.

Are you digging the show? Please stop by iTunes and leave us a review! We’ll give you a mention on the show and we’d love to hear your feedback!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • 4 Main Ways To Sell Your Online Business
  1. Do it yourself
  • Put together documentation
  • Decide on a “central” place to list and sell your business
  • Format your write-up
  • Publish your central listing
  • Advertise your central listing

2. Flippa

  • Put together your documentation
  • Decide on Classified Vs. Auction Listing
  • Submit all of the information, pay the listing fee, and follow the format we laid out in the DIY approach
  • Decide on Reserve Vs. No Reserve
  • Select your advertising options
  • Publish on Flippa!
  • Advertise your central listing

3. Brokers/Marketplace

  • Put together your documentation
  • Pay listing fee and/or submit your information through the order form
  • Expect to answer a list of questions
  • Within 1-2 weeks expect to hear whether your listing was approved and the listing price for final approval
  • Agree on the price and have your business listing go live

4. Private Equity Groups

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S03E05: Required Documentation To Sell Your Online Business

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Subscribe to our VIP LISTSo you’re looking to sell your online business and it’s getting down to the wire.

You started the business off the right way, maximized profits, and are looking to list your business for sale.

What documentation is required to actually sell the business?

That’s the question we’re tackling in today’s episode.

We’ll look at the earnings data you’ll need to collect along with the traffic data (if applicable), but we’ll also touch on the required documentation of processes and staff a buyer will be looking for in a purchase as well.

I’ll admit – this isn’t the most exciting topic and it can be frustrating to put all of this together. Still, it’s important to remember that you’re competing for a buyer/investor’s time and there are other deals out there. Putting all of your information together in an easily-reviewed, digestible way will help set you apart from the pack.

Are you a regular Web Equity Show listener? Please make sure to give us a review on iTunes! We’ll give you a mention on the show and we’d really appreciate the feedback!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • Importance Of Documentation
  • Financial Documentation
  • Traffic/Analytics Documentation
  • Operational/Process Documentation
  • Other Documentation

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S03E04: Preparing To Sell Your Online Business (Part 2)

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Subscribe to our VIP LISTIn last week’s Part 1 of this 2-part series, we looked at the preliminary steps you’d want to take if you plan to sell your business – from getting started all the way through 12 months out.

This week, we’ll cover the process from 9 months out all the way through the day you list your business for sale.

We’ll dig into growing your revenue, cutting expenses to maximize your earnings/margins, and putting teams and process in place to maximize the value of your business.

The goal with this 2-part episode is to give you a blueprint you can use to list (and ultimately sell) your business for the best price.

If you’re thinking about selling your business in the next 12 months, you’ll definitely want to give this one a listen. You’ll likely pick up a few tips you can use along the way.

 

 

Fan of the show? Please stop by iTunes and leave us a review! We’ll give you a shout on a future episode and would love the feedback!

Have a question? Feel free to use Speakpipe to record a question and we’ll do our best to answer it on an upcoming episode of the Web Equity Show.

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What You’ll Learn From This Episode:

  • 9-6 Months Out From A Potential Sale
  • 6-3 Months Out From A Potential Sale
  • 3 Months Out From A Potential Sale To Listing

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S03E03: Preparing To Sell Your Online Business (Part 1)

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Subscribe to our VIP LISTWhat are the exact steps you need to take if you want to sell your online business?

That’s the question we’re tackling in this 2-part episode.

We’ve shared tips/tricks in previous episodes and on the Empire Flippers Podcast, but we wanted to see if we could break the process down specifically for a potential seller.

We’ll be walking you through exactly what you need to setup and prepare if you have a mind to sell:

Phase I – Getting Your Business Started. Why do you need to think about an exit from day 1? What can you do to better set yourself up for a successful exit?

Phase II – Growing/Scaling Your Business. What steps can you take during the growth process that will improve value?

Phase III – 12 Months Out. What can you do when you’re 12 months out from a potential sale to maximize the value of your business?

In these two episodes, we’ll walk you through, step-by-step, from creating your business up to getting the online business ready to list.

If you’re at all interested in hearing about how to sell your online business, these two episodes will help you get there.

Fan of the show? Please stop by iTunes and leave us a review! We’ll give you a shout on a future episode and would love the feedback!

Have a question? Feel free to use Speakpipe to record a question and we’ll do our best to answer it on an upcoming episode of the Web Equity Show.

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • Getting Your Business Started (Phase 1)
  • Growing/Scaling Your Business (Phase 2)
  • 12 Months Out From A Potential Sale (Phase 3)

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S03E02: The Best Time To Sell Your Online Business (Reasons Why People Sell)

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What are the REAL reasons people sell their online businesses?

Sure, most of them say it’s because they’re going to “work on other projects” or something like that – but what’s the real reason behind that answer?

In today’s episode, we’re going to look at the reasons behind selling your business and review the good and not-so-good reasons it might be time to sell.

Digging the Web Equity Show? Please stop by iTunes and leave us a review! We’ll give you a mention on the show and would appreciate the feedback!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

1. Are you emotionally ready to sell?

  • Are you ok giving up your baby?
  • Do you have something else exciting to do?
  • Am I bored with the business?

2. Is the business ready to sell?

  • Are you tracking traffic and financials?
  • Are they trending well? Showing profit?
  • Do you have processes documented and organized?
  • Can someone unfamiliar with your business

3. Are market conditions right for selling my business? (Can you time the market?)

  • Sellers market (in 2017 at least)
  • Economy is strong – lots of money to invest
  • Baby boomers cashed up and looking for retirement projects
  • All brokers/marketplaces showing strong year-over-year growth
  • Sophistication in online businesses has increased, strengthening the barrier to entry.

4. Are there more personal reasons you should sell?

  • The company/business has outgrown your skills (or interests).
  • The market is moving against you.
  • You’re having life events/issues.
  • A lucrative opportunity presents itself.

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S03E01: Introduction To Selling An Online Business

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Subscribe to our VIP LISTWe’re back!

Welcome to Season 3 of the Web Equity Show. In this season we’re going to walk you through, step-by-step, the exact process for selling an online business.

We’re doing these in seasons because we want you to have a long-form walk-through on the process. If you’re interested in buying, we’d highly recommend you check out Season 2 here.

In this episode, we dig into exactly who buys online businesses, take a look at how they’re valued from a buyer perspective, and discuss the various places you can look to when you want to sell your business.

This is primarily an introductory episode to selling an online business, so if you’re more experienced you might want to skip ahead to some of the later episodes.

 

Are you digging the show? Please stop by iTunes and leave us a review! We’ll give you a mention on the show and we’d love to hear your feedback!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • Who Buys Online Businesses?
  • How Are Online Businesses Valued?
  • Where Can I Sell My Online Business?
  • Frequently Asked Questions
  1. Why would I ever sell my business if it continues to make money?
  2. Which businesses will sell and which won’t?
  3. I’m still building an online business. Where can I go to learn more about selling an online business?

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S02E09: Website Migration & Turnover

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One of the scariest steps for buyers (and sellers) can be migrating the business from the old owner to the new.
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What if you make a mistake and lose traffic/rankings/earnings? What if you put yourself at risk and end up getting scammed?

In this episode, Ace and I sit down to look at the various steps involved with migrating an online business from the seller to the buyer. We cover issues from transferring the money, domain, and assets to verifying you actually received what you purchased. We even take a look at the horrible situations where a buyer might be forced to back out of the deal.

If you’re looking to make a purchase and wondering about the steps and process in the final stages, this is the episode for you.

Digging this podcast? Please stop by iTunes and leave us a review! We love to read the comments and will give you a shout on a future episode!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • First Phase: Transfer Period
  1. Money Transfer
  2. Domain Transfer
  3. Website Transfer
  4. Other Accounts
  • Second Phase: Inspection Period
  1. Goal 1: Did You Get Everything?
  2. Goal 2: Verify Quality and Metrics
  • Third Phase: Signing Off
  1. What To Do If Things Go Bad? (Backing Out)

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S02E08: Making Offers And Closing The Deal

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Now that we’ve looked at the various types of deal structures you can implement, it’s time to close the deal.
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Nervous? You don’t have to be! In this episode we walk you through the tricks and tactics you can use to come to a win-win agreement that will work for both you and the seller.

Whether you’re using a broker or working out a deal directly with the seller, we’ll cover the various processes so you can feel confident heading into the deal and all the way through the process.

This can be one of the most exciting (or costly) periods in the buying process. Your next moves will determine whether you walk away with a steal…or empty-handed.

Do you like the show? Please stop by iTunes and leave us a review! We love to read the feedback and will give you a shout on an upcoming episode!

Listen To The Full Interview:

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What You’ll Learn From This Episode:

  • What’s The Process
  1. Letter of Intent (LOI) Process
  2. Empire Flippers Process
  3. Private Purchase Process
  • Our Best Tips On Closing The Deal
  1. Find out what the seller REALLY wants!
  2. Get the broker working for YOU! (Insider trick)
  3. Be mindful of the seller’s ego/feelings
  4. Consult your Accountant/CPA about tax benefits
  5. Be SUPER clear about the terms and deal structuring
  6. Make it clear you’re a good fit for the business
  7. Be understanding if seller responds with a touch of hostility
  8. If deal stalls, rely on broker. (Or lawyer / 3rd party)
  9. If you’ve been through several rounds of offers, give the seller a small win to close the deal
  10. Don’t rely too heavily on contracts post-sale

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