When you are hunting for a great website to buy and you have finally found the one, you really want to make sure you are an attractive website buyer to the seller.
The more attractive of a website buyer that you are the easier it will be for the seller to lean towards going through the deal with you as apposed to other potential buyers. Which is why it is important for you to understand what actually makes an attractive website buyer before you find the deal of a lifetime.
There is nothing worse than finding a great website investment and loosing out because you weren’t prepared and somebody else was. So let me break down 3 important things to help you to become and attractive website buyer.
1. Killer Communication Is Key
This tip can be related to everything in life, however it is especially key when trying to pull off a deal on a website that is something you are hungry to buy. What I mean by having great communication skills is to be open and honest about everything you know about the type of business you are trying to buy. Communicate your goals when taking over the business and how you would like to handle everything throughout the deal in an effective way for both parties.
But above all else, what is the utmost import is keeping on top of emails and messages by replying as quickly as you can. You don’t have to watch over your computer/phone every second of every day. Though the quicker you reply to emails and messages the better. This will show how serious you are about the deal.
2. Speed & Professionalism Is Your Trump Card
As I mentioned before about rapidly replying to the seller, it is also important to promptly provide whatever information the seller or broker needs too. Again this shows professionalism and seriousness towards the deal.
As for professionalism when buying a business, you want to know at the very least the basic outline of the business model in which you are looking to purchase. By knowing this you are showing the seller and broker that you know what you are talking about and you are not just coming into the deal blind folded.
Studying up on the prospectus and conducting at least some due diligence into the business you are looking at purchasing allows you to learn more about the business and progress through the deal with speed and professionalism. Unlike someone who hasn’t got a serious interest, this is where you will start to shine out as an attractive website buyer.
3. Be Prepared For The Deal
Last but not least, preparation is incredibly important, if not the most important.
There are so many things you can do to ensure you are prepared for the deal. One being that if you are going to be using finance to pay for the business. You should have already arranged or been approved for the finance which can speed up the whole deal and get it off the market and into your hands quicker. Another thing you want to be prepared for is some more rigorous due diligence. Especially if you aren’t going to be doing all the due diligence yourself, it is best to have some advisors on the ready that you either know or would like to contact to start working on those parts of due diligence you need overseeing or help with.
For those of you who are new to investing this is quite crucial to have help during due diligence. Even for those who are experienced like myself, it is still wise to have another opinion when looking at a business to buy.
Obviously finance and due diligence are the most important things to note and have prepared. Though that still doesn’t mean you should leave out other things you might need, for example having your own hosting account already set up if it is not coming with the sale. It is too wise to have someone at the ready to help you with the transfer of the business if you are not sure how to organize this or the broker doesn’t provide this service.
I would also suggest clearing your schedule so you can get to work on more due diligence yourself and keeping prepared by setting a to do list for the things you need to do even for when you have already taken over the business.
Like all things in life, preparation makes things so much easier and sure there are some things you won’t always be able to prepare for. Though getting every little thing ready you can to make sure the deal runs as smoothly as possible will show your professionalism to not just the sellers but the brokers you might be buying through too.
Which in turn is something brokers also remember for the next time you may want to purchase another business through them. Leaving a good impression as an attractive website buyer is only going to help you in many more areas than you may think.
In conclusion, being an attractive website buyer is what is going to help you get the deal, it is going to also allow you to have more buying power which helps you in negotiations when trying to get a better deal for yourself. So keep remember to keep up great communication skills, rapid responses and be prepared for every part of the sale/deal as you can.