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Forbes
4 days ago
- Business
- Forbes
Step-By-Step Guide To Finding A Buyer For Your Small Business
What if the perfect buyer for your business is already in your inbox? What if the perfect buyer for your business is already in your inbox? Or sitting across from you in your Monday team meeting? Most small business owners don't need to post their business on a marketplace or hire a high-fee broker to sell their business. They just need a better system for identifying the right buyer, at the right time, with the right motivation to say yes. In this article, you'll learn a 6-step framework, with a practical, proven path for finding the buyer who sees value in what you've built and is ready to take it to the next level. Step 1: Understand the Different Types of Business Buyers Before you go looking for a business buyer, get clear on who you're actually looking for. There isn't just one type of buyer, there are three main ones, and each brings different expectations and priorities to the table. Strategic buyers are often companies already in your industry or a related field. They pay a premium because acquiring your business gives them a strategic advantage, like new customers, products, or market access. They're harder to find, but they often pay the most. Financial buyers look at your business purely as an investment. They're focused on financial performance, return potential, and future cash flow. They don't care as much about industry fit, they care about profitability and scalability. Lifestyle buyers are common in smaller deals. Think solo entrepreneurs or operators who want to step into a stable business they can run themselves. These buyers want cash flow, simplicity, and a business that doesn't require a huge team or complex systems. Knowing which buyer type fits your business helps you tailor your pitch, prepare your materials, and choose the right outreach strategies. Step 2: Start With Your Inner Circle Most successful small business exits happen behind the scenes, long before anyone lists their business publicly. The reason? Trust. Your buyer is likely someone who already knows you, respects your work, and understands your business. Start by making a list of potential buyers in your existing network. Think about: Don't overthink it. Just brainstorm 10 to 20 names or companies and rank them by two things: trust and alignment. Step 3: Expand One Degree Out Once you've mapped your immediate circle, look one level beyond. These aren't strangers, but they're not in your day-to-day orbit either. This step helps you explore warm leads without making your sale public. Potential candidates in this tier include: One founder we worked with ended up selling their agency to a long-time supplier who casually mentioned wanting to expand into service delivery. An example of intentional networking, which lead to an exit. Step 4: Proceed Carefully With Competitors Competitors can absolutely become the buyer of your business. But you need to protect yourself. Not every inquiry is in good faith. Sometimes, a competitor will act interested just to get a look under the hood. Here's how to stay safe while exploring competitor interest: Trust, but verify. And always keep control of what gets shared and when. Step 5: Use External Buyer Tools If Needed If your network doesn't yield serious leads, there are reputable platforms and professionals who can help connect you with qualified buyers. But not every tool is the right fit for every business. Online buyer platforms like Flippa, Baton and BizBuySell work well for digital businesses, productized services, or brands with clear systems and recurring revenue. Business brokers can help for more traditional businesses. The right broker will have a vetted buyer list and guide you through negotiations and valuation. Just be mindful of fees and vet their track record. M&A advisors are best for higher-value exits (typically $1M+ in profit) or when intellectual property, licensing, or growth potential is part of the deal. These professionals offer a tailored approach, including confidential outreach and detailed due diligence support. Step 6: Don't Just Sell But Select the Right Buyer Just because someone wants to buy your business doesn't mean they're the right fit. Remember, you're not just selling assets. You're passing on something you built. It deserves a buyer who aligns with your vision and values. Here's what to look for: Talk to other founders they've bought from (if applicable). Ask about the handover, post-sale experience, and any surprises. You want to know what it's really like doing a deal with them. Final Thoughts: Your Business Buyer Is In Your Network Finding a buyer for your business doesn't require luck. It requires clarity, preparation, and the willingness to start with who you already know. I've seen time and again that the best deals are born from relationships, not form cold listings. So start now. List out your potential buyers. Map your network. Ask your advisors and entrepreneurial friends who they know. The right buyer might be closer than you think. Don't just hope for a big exit. Build one. On purpose.
Forbes
25-06-2025
- Business
- Forbes
6 Ways To Find The Best Buyer For Your Business
What if your ideal buyer is already in your network, but you don't even know it yet? What if the perfect buyer for your business is already in your network, but you don't even know it yet? And what if waiting to look for business buyers until you're 'ready to sell' means you miss your best opportunity to exit on your terms? Most business owners wait too long to find the right buyer. Or worse, they don't know what "right" even looks like. And that lack of clarity? It costs them leverage, value, and peace of mind. This article breaks down six real-world strategies for identifying the best buyers for your business—whether you plan to sell next year or three years from now. These are the same strategies my clients use who want to sell their small business from a position of strength. Let's first walk through the practical mindset shift that helps you stop waiting for a business buyer and start building a buyer list now. 1. Start Searching For A Buyer Before You're Ready To Exit The biggest myth in selling your business is that you should wait until you're ready to sell to start finding buyers. In reality, the longer your horizon to exit, the more control you have over who you sell to, how, and for how much. When you start early searching for business buyers, you're not working under pressure. You're studying your market. You're identifying who's buying businesses like yours. And you're building your buyers list. The longer you track acquirers in your space, the clearer your ideal buyer profile becomes. Is your perfect buyer a strategic acquirer, looking to add your service to their offering? Are they investors consolidating a niche? Is it a solo entrepreneur looking for a cash-flowing business? I always advise clients to build their buyer list and revisit is regularly, by researching new deals in their industry. You don't need a business broker to do this. You need curiosity, Google Alerts, and a Google Sheet. 2. Use Multiple Search Strategies To Find Potential Buyers Many owners ask 'To find a buyer for my business, should I use a broker, a listing platform, or do it myself?' The answer: Use all three. At once. Here's why: Each approach opens different doors. A broker may have a trusted buyer network and can manage the negotiation. A listing platform can offer wide exposure, especially for smaller businesses. But your own network? That's where the magic happens. Your industry contacts, peer communities, suppliers, or even competitors may have the clearest incentive to buy your business. When you diversify your approach to find potential buyers for your business, you not only increase your chances of finding the perfect one, you also create competition amongst interested buyers, which increases your leverage. 3. Vet Business Buyers Before You Waste Time Not all buyer interest is serious interest. There are tire-kickers. There are people who want to "learn more" but aren't qualified or have the money. And then there are the strategic, funded buyers who already know what they want. Your job is to know the difference early. The best buyers will have: Don't be afraid to ask questions: A real buyer won't be offended. They'll respect your professionalism. 4. Google Is Your Secret Weapon To Find Potential Buyers You don't need to be very well connected to start identifying real buyers. You just need the right search terms. Try this: Type your industry + words like 'acquisition,' 'buyout,' or 'merger' into Google News or set up alerts. Over time, you'll spot names that appear repeatedly. You'll also discover the language that acquirers use when announcing deals. This is gold. Why? Because it shows what buyers value: recurring revenue, owner-independence, customer retention, niche market share. Then, reverse-engineer that into your business. Use it to shape how you grow. Use it to shape your buyer pitch. Use it to improve your valuation. Extra Resources: If you want to take it one step further, subscribe to acquisition-focused newsletters like They Got Acquired. They cover real deals in the 6- and 7-figure range, not just unicorns in Silicon Valley. 5. Don't Overlook Your Personal Network One of the first questions I ask business owners who want to sell their business: 'Who do you already know that might be interested?' Almost always, there are names. A supplier who's hinted at expansion. A client who's bought a similar business. A friend of a friend in your industry. These leads are usually warmer, more aligned, and more serious. You don't need to cold-call your contacts. But do start planting seeds. Mention your long-term plans in casual conversations. Say you're starting to think about the next phase. Invite input. Watch who leans in. In one case, a client of mine sold her training business to a former supplier who had quietly admired her systems for years. That deal happened in under 60 days because of the trust and familiarity already in place. 6. Build a Buyer List Like It's An Asset (Because It Is) The buyer list you build today isn't just a spreadsheet. It's leverage. When brokers, investors, or partners see that you've already mapped out who might buy your business—and why—they take you more seriously. It shows you're proactive. Strategic. Prepared. And if you ever do hire a business broker, they'll ask you for that list anyway. Why? Because no one knows your market better than you. So here's how to start: Final Thoughts: You Don't Find the Best Business Buyer By Accident The best exits aren't lucky. They're built by savvy business owners well in advance of the actual sale. If you want to sell your business for what it's worth, to the right person, on the right terms, start thinking about it now. Study the market. Build your business buyer list. Ask better questions. Combine multiple strategies to find out how's buying. And most importantly, don't wait until you're ready to exit. The work you do now, pays you later. Not just in money, but in peace of mind, clarity, and freedom. And isn't that why you built this business in the first place?
Forbes
09-06-2025
- Business
- Forbes
Five Ways A Postsale Digital Experience Reduces Risk During Volatile Times
Five Ways A Postsale Digital Experience Reduces Risk During Volatile Times Reprioritizing customer retention lets B2B companies better weather economic uncertainty and volatile market conditions — a daunting task when executive leadership asks everyone to deal with the chaos by cutting costs. But cutting costs independently of business strategy — especially strategies that protect and grow revenue from current accounts — can hurt more than help. Postsale teams come out on top when they optimize costs by pivoting resources and communicating more consistently. They also provide easier access to the tools and information that existing customers use to gain more value from their current investments. Forrester's 2024 Buyer Insights research shows that 81% of business buyers expressed dissatisfaction in at least one area with the provider they chose at the end of a successful purchase. Becoming customer-led is a principal way to avoid this result — and is a pivotal step in any company's journey to customer obsession. Customer-led organizations boast higher revenue growth, increased employee engagement, and (most importantly!) greater customer retention. A primary way to become more customer-led is to make postsale experiences more streamlined and self-directed — something that can be done using existing technology, business assets, and people and (if done creatively) without much additional investment. The key today is understanding how your best customers thrive and getting started on ways to help the rest follow their lead. By understanding how your best customers excel, top postsale teams can construct digital signposts and way stations that direct others along the right paths to value. Teams that make even the most basic investments in developing a postsale digital experience (DX) can see significant returns, as our Total Economic Impact™ models predict. Read on for five areas where pulling together even the most basic DX can have an outsized impact on customer health. Yes, we know: Customer data is a mess, and modifying back-end systems is expensive and time-consuming. But making customer data more robust — and getting customers to help manage their profile information — is a first step that B2B companies should commit to that can lend itself to further automation and enhancement with AI down the road. In the meantime, we see customer teams deploy uncomplicated capabilities that: Consolidating the access points to your support ticketing system, knowledge-base answers, and contact information (phone numbers, email, chatbot, etc.) in one interface/portal page can pay off in reduced customer frustration and streamlined interactions. You can also: Striking the right balance between messaging and reminding can help (new) customers or users remember how useful your existing online education can be. You don't need a full learning management system: Take the time to survey or interview customers about which courses or modules they find most useful and promote those. You could also: Online community platforms are powerful but can require resources that you might not be ready or willing to commit. Look for creative ways to get your customers to engage, network, and share their experiences, advice, and knowledge. At a minimum: Market digital and in-person events to your customers and focus on aspects that benefit them. Track attendance, gather feedback, and look for signals that indicate new purchase interest. Analyze these results to make the business case for further investment. You can: These five areas represent practical, straightforward DX changes that any B2B team can implement quickly as postsale teams explore further investment — particularly for using generative and predictive AI to enrich, personalize, and make each aspect of the DX more effective. For example, the use of AI agents can greatly scale and increase customer productivity in many aspects of the DX. This post was written by VP, Principal Analyst Laura Ramos and it originally appeared here.
