Become An Irritant To Your Competitor And Sell Your Business

I was talking to an entrepreneur yesterday who told me that his goal for starting a business was to simply sell it. Which is a little bit different from the goals of the vast majority of the people who start a business, most people simply want to establish an income.

This entrepreneurs strategy is to start is business chipping away at a market leaders market share in a niche market and to act as an irritant to his competitor so that sooner or later they will pay him to get him out of the market. They will buy his business, and they will pay handsomely. The strategy seemed to work as he had sold a few businesses and was a millionaire.

What perhaps most people do not realise is that often it is a larger business and competitor that is the prime candidate for buying your business.

If selling to a competitor is the strategy you think is best for your business, it’s preferable to engage the services of a professional business transfer agent, who has experience in assessing the interest and motives of these competitors.

They may obtain client lists, be able to gauge your financial strength, or your motives for selling, you could be giving them information that may harm your business.

So you might want to start thinking about which company may wish to buy your business or in thinking about your business strategy is there any way that you could become an irritant to your competitor so that they pay you effectively to disappear?

This entry was posted on 24/03/2010 at 04:45 pm and is filed under Selling Your Business, General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.