Here’s How Preparing like Iron Man Will Help You Find Your Perfect Deal
Updated on June 17, 2021
When the Avengers movie first came out, my wife was 100% convinced that Iron Man was the best Avenger. She argued that he had the most impact and was basically…well, everywhere because he could fly.
While we agreed to disagree, one thing stood out to me—how he used his tech to bring up key information with a flick of the wrist.
Well, what if you could pull an Iron Man? Just picture it—a flick of the wrist and technology at the tip of your fingers to help you make smart decisions to get the most profitable acquisition possible, or the biggest exit from your business you could have asked for.
Now, you can. I’ll teach you how to be like Iron Man where you can see everything you need to see and make the most impactful decisions when trading online businesses.
Entrepreneurs are used to the hustle and grind, so making a shortlist of businesses to buy or manually tracking interested buyers is probably second nature. You might underestimate how much work it actually takes to buy or sell a profitable asset.
If you’re looking to buy, you’ll need to research a business’s niche, check its traffic and earnings, and contact the owner so you can find out more.
On the other hand, a lot of people might be interested in buying your business and your phone is ringing off the hook. You’re having to jot down the names of interested buyers, when they want to schedule a call, and keep tabs on any potential offers while weeding through the tire kickers.
Just reading that made me tired!
Rather than spend hours managing the data all on your own, you can use a super sophisticated platform that does all the work for you so you can focus on the deal itself.
Admittedly, it’s not as cool as a swipe of your hand, but with just a click of a button, you’ll have access to important information that will help you with your due diligence process. Here’s how our platform helps you find the deal that meets all of your criteria.
Buyers
Many entrepreneurs want to run an online business that’s pretty hands-off and generates an income that allows them to travel or live a comfortable lifestyle. But finding the right deal can be a full-time job.
If you’re tired of writing down where you found potential deals without having a way to save and see them all at once, we’ve got good news for you.
Our platform provides access to a range of tools that let you track great listings and hide the ones that don’t fit the bill. When you first sign up, we’ll ask you which types of businesses you’re interested in. From there, our platform aggregates all the listings that meet your criteria so you can review the best deals in just a few minutes.
If you want a more focused view, our filter function lets you sift through dozens of live listings. You can save the filter so any new listings that meet your criteria will pop up in your notifications. This means you don’t have to keep applying the same filter each time since the platform remembers your preferences.
When you scan the businesses for sale, you can upvote or like a business by clicking the thumbs up button on the far left. This saves the upvoted listing to your Watchlist so you can monitor it closer in the future. Downvoting a listing grays it out so it won’t appear in future searches.
If anything stands out to you in your initial research, you can make a note on the listing as a reminder to follow up on an inquiry.
To make it easier on the eye, you have the option of seeing the listings in either card view or list view.
In your personal Buyers area, you can monitor the progress of all the listings you want to pursue further. You can keep track of any listings you’ve unlocked or made offers on. We’ve also included a handy schedule planner to remind you of any scheduled calls with sellers.
If you want to learn more about our buying process, check out the Resources tab that explains what our buying process is like and helps you set yourself up for success in your buying journey.
Sellers
If you’ve ever wondered how much your online business is worth, you’re in luck.
Our free valuation tool gives a pretty good estimate of how much a business is worth based on a few basic inputs like earnings, monetization type, and how much traffic or sales it generates.
Our valuation formula is as follows:
Valuation formula: Listing Price = 12 month average monthly net profit x Multiple
Instead of using a yearly earnings before interest, taxes, depreciation, and amortization (EBITDA) figure, we use a monthly one instead because we feel it’s a better representation of an online business’s performance.
The multiple depends on factors like the age of the business, the rate of growth, and if there is diversity in traffic sources.
This handy tool also gives a profile analysis of the type of buyer personas who might be interested in the business and why it’s suitable for them.
Knowing why a business is a good fit for a Flipper Fred or a Newbie Norm already gives you an idea of the type of buyers who’d be interested in purchasing your business.
Within a couple of minutes, you’ve got a baseline sales number. But what do you do with this number? While you could reach out to private investors with a ballpark figure of how much you’re selling for, going down this route will take a lot of work since everyone you approach will ask you the same questions about your business.
Wouldn’t it be nice if you could let people know that your online business was for sale and let the stats do the talking for you?
Our platform is designed to let you focus on deciding which offers to accept so you can have a successful sale. The only tasks you need to complete are the Seller tasks, and they only take a few minutes to do.
A great advantage to using our marketplace is you’ll only be approached by investors with high buying intent. Buyers need to show proof of funds that they can actually afford to buy a business before they can unlock it. This approach is a great bottleneck and weeds out the tire kickers who are just window shopping and asking around to compare prices.
Once your listing is live, you can cut down the number of repeat questions from buyers in a convenient FAQ section. You can address any possible concerns like why did earnings or traffic drop during certain months, or how old is your inventory in the FAQ section to save future buyers time.
Whenever you receive an offer, the notification bell will update you. Head over to your Seller Dashboard where you can manage all the offers that come in for your listings. You can accept an offer or provide a counteroffer if a proposal doesn’t quite meet your expectations.
Once you’ve agreed to go ahead with an offer, you can monitor the sale from the vetting stage to migrations. There’s full transparency over your listing so you can track its progress at all stages of the deal.
If you have any queries or want to update information in your listing, you can always reach out to us through our ticketing system.
Why You Should Choose Brokers Over Doing Private Deals
For first time buyers or sellers, we strongly recommend that you use a broker for your first deal to acquire or sell an online business. We’re very biased in making this statement because we’re a broker, but there are a lot of benefits to using our platform. For example, with just a few clicks, you can collect information about potential deals in an instant.
The platform remembers your preferences so that every time you check, it will only display the deals you’re actually interested in. And we’ve made it super easy to make an offer and track its progress.
There is $800m in verified proof of funds, meaning buyers here have serious intent. We list 8-15 new listings every week, so there are potential deals popping up every week.
Some listings look so good, that buyers snatch them up and complete the deal within days.
While Tony doesn’t have any superpowers of his own, he used tech to get the lay of the land in front of him so he could make the best decisions. Register for free now to start taking advantage of tools you won’t find anywhere else so you can start building your wealth or acquiring a lifestyle business.
