Become a buyer magnet: Answer these 10 questions to sell your business

Kerry Boulton /

When selling a business, there are effectively two types of buyers: financial and strategic. Financial buyers assign a value to the future profit generating power of your company. The second and much more valuable buyer is strategic, where value is based on exploiting all the underlying assets and capabilities of your company.  

Become a buyer magnet by identifying and developing strategic assets and strategic capabilities a larger company can exploit. It may not matter whether your business is making a profit, or has high revenue, or even growing.  

Who is a strategic buyer?

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Sydney-founded RangeMe acquired by US-based marketing company ECRM: Co-founder Nicky Jackson’s top tips for selling your startup

Angela Castles /

RangeMe co-founder Nicky Jackson

RangeMe co-founder Nicky Jackson. Source: Supplied

RangeMe co-founder Nicky Jackson has had a whirlwind 12 months.

This time last year, the Sydney-founded online marketplace startup had just closed a $5.5 million ($US4 million) funding round that included the likes of Eventbrite founder Kevin Hartz, Uber advisor Steve Jang, Freestyle Capital and Transmedia Capital, and which reportedly valued the business at $16 million. 

Now, three years after RangeMe was founded, it has been acquired by US-based marketing company Efficient Collaborative Retail Marketing (ECRM) for an undisclosed sum.

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How Jordan Grives sold the company he founded when he was 18 for $30 million

Eloise Keating /

Brisbane entrepreneur Jordan Grives says it hasn’t quite hit home that he has sold the business he created less than 10 years ago.

Grives today revealed he has sold telecommunications provider Fonebox Group to an undisclosed NASDAQ-listed firm, after what he describes as an intense due diligence process. Grives will continue on with the company, while also pursuing other ventures, including as an investor in other tech-based businesses.

“I don’t quite know when it will sink in, perhaps when more and more responsibility is taken away from me,” the 27-year-old told SmartCompany this morning.

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Why I didn’t go through with my Shark Tank deal and ended up selling my business instead

William Strange /

Back in 2013 I decided to start a business selling underwear to Australian males via a subscription service. Subscription was a business model that I really liked, with the ability to acquire a customer and keep them as a customer.

The business was a very simple one and I knew I was not the first to invent the wheel, but it had a twist.

Almost two years into running Three65, I was invited to pitch on Channel 10’s Shark Tank. This was an opportunity to expose my business to over 700,000 people at the one time.

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How to sell your small business for big bucks

Kirsten Robb /

So, you’re thinking about how to sell a business. You’re not alone.

In fact, figures showed an increase in the number of businesses for sale in Australia in 2014, hitting an all-time high of 41,200 enterprises up for grabs in October last year.

But in an overcrowded market, how do you get the best price for your business? And more importantly, how do you make a play for the big bucks?

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