- In this video, I'm gonna teach you
how to sell your business.
Hey guys, I'm James Sinclair, I'm an entrepreneur
based here, in the United Kingdom.
I run my own businesses, I've got over 450 staff,
we turn millions in pounds in sales each year,
and I think there's gonna be some really good stuff
in this video to learn how to sell your business.
If you're new here and you've just discovered our videos,
make sure you hit subscribe so you get more
entrepreneurial stuff coming your way.
So, guys, in this video we will learn
how to sell your business.
Now, we're going to move over to this flip chart over here
because I've put some of the salient points
that we're gonna go through when getting your business
ready for sale.
Thing number one is make sure that it's a business
or an investment, it's not a profitable job.
Most people build profitable jobs
and then they wanna sell their profitable job
and no one wants to buy a job do they?
They wanna buy an investment so make it a proper business.
Make sure that it can work without you
and it doesn't need you to run the business.
So, you need to build something that can just work
completely automated without the business owner being in it.
Now, you can carry on building a business
but make sure you're not running it,
and if you wanna sell something then you gotta make sure
that it can run completely without you.
So, the first thing is you're not building a profitable job,
build a profitable business.
Next one is Google famous, make sure you're business
is Google famous.
When people are looking at your business to buy
or they're researching businesses to buy
in a particular niche or sector,
make sure you're the Google famous ones.
Make sure you've got all Trustpilot reviews,
Google reviews, or TripAdvisor reviews,
whatever your sector you're in.
Make sure that you are Google famous,
that you're everywhere on the internet,
because when they doing a due diligence on you,
they're gonna go to Google first
before they check your accounts and anything else.
It's the quickest and easiest thing.
Make sure you're LinkedIn profiles are there,
make sure you're top of all the search engines,
make sure you're Google famous.
There's loads of things that you can do for free
to make sure that happens.
So, when people are doing their due diligence and research,
they're choosing this first of all.
Make sure you're top of page.
Next one, there's room for others to grow.
Well, basically, you gotta make sure that there's something
for the person that's buying your business
that they can take it to the next level.
Make sure you amplify the things that you're weak at
that there's huge opportunities to.
It's like when you're selling a house,
maybe you're showing someone round your house,
but you say, look, I've got planning permission
for an extension on the house,
you don't have to go through that,
and if you extend the house, blah, blah, blah,
it's gonna be worth more, more, more.
That is a thing that someone else can do
that you haven't done.
You've laid out potential opportunities
that haven't been tapped.
This is a key thing to do.
So, maybe they've got a successful brick and water store
but you're not taking full advantage
of the internet and the website.
So make sure that you amplify the weaknesses
for others to improve.
The next one is make sure that you've built
some regular income into the business.
Loads of business that are started off by entrepreneurs
are key man businesses, they're driven by a key man
or a key woman that makes the magic happen,
that makes the turn over happen.
What you wanna do is you wanna obviously start like that,
but as the years role on, make sure that there's
some residual regular income in there,
so that if you remove the key man, or woman, or person,
that the business continues to run.
This is crucial, it's why people like investing in property,
they know if they buy the property and rent it out
to someone, they're gonna get a regular income each month.
Try and work a way of explaining,
if you haven't even got it in yet,
of how you could build residual income into your business
and it'll start being far more attractive
for people to buy your organisation.
The next big one is to create an investor deck.
This is the salient points of the business,
bullet pointed, like a brochure,
that explains all the good things that you've done
in your business.
How long you've been trading, how long you've turned over,
who your key management team is,
a CV of the management team,
your strengths, your weaknesses,
the opportunities and threats to your business.
This'll be about six pages, imagine you're presenting it
to a private equity firm, a venture capitalist,
or a pension fund, that are gonna send it to other people
that don't necessarily know you face to face.
A brochure to sell your business.
This is now easier than ever to do.
You can do it on all the big programmes
that you've got on your computer.
Make sure it's good, make sure there's photos in there,
make sure there's headings, make sure there's bullet points,
scream about the good stuff you've done.
Good, easy content that people can read through,
within an hour, fully understand all the big headings
of your business.
Lastly, consider vendor finance.
What's vendor finance, you're thinking.
Well, this is where you, the person selling,
provide the finance for someone to buy your business.
And in most business sales transactions now,
there's always all vendor finance,
or an element of vendor finance.
So, you might ask for them to give you some money up front
and then pay you for the balance of it
over a period of time.
They can wrap up interest into it,
but it's a good way of getting the value that you want
for your business.
So, guys, if you want some clarity on some of the stuff
that I've discussed today, let's get a discussion going.
Hit the comments below the video,
and I'll do my very best to answer all your questions.
And, lastly, guys, if you've really enjoyed
watching this video, why don't you come along
to one of my free live seminars.
Now, I've got all details of how you can do that
in the description of the video.
Check it out and we'll hopefully see you there.
Thanks for watching the video, really hope you enjoyed it.
We've got a tonne more.
But first of all you need to subscribe by clicking here
so you get notified when we bring out more videos,
and you can watch the rest of our videos by clicking here.