We know what the average small business business buyer looks like. But there are other kinds of buyers.
Check out 3 Types of Buyers you meet when Selling a Business, which identifies three categories of buyers: individual, strategic and financial.
How The 4 Types of Business Buyers Impact the Value of Your Company talks about 4 types of buyers: professional investors, industry buyers/larger competitors, strategic buyers and individuals.
Both articles point out that each category offers its own set of benefits and drawbacks to you as a potential seller; however, this is one area where the complexity can lead you astray. Take a look at the articles, but don’t allow yourself to get too excited. For most small business owner’s individual buyers will be the only option.
“But the reality is that few businesses will ever become a target for professional buyers. Most small businesses are owned by an individual and will be bought by another individual.”
One of the benefits of the Simple Approach is while it targets the needs of the individual buyer, the results will make your business easier to sell, regardless of the type of buyer that might be interested.