Newbie Norm Buyer

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This type is where all business owners and investors begin—as newbies. At one point they didn’t know anything.

A Newbie Norm is probably still working their 9-5 and looking for a way to escape it. They view buying an online business as being the ticket to get them out of their situation. In many cases, they are right. We have seen people purchase cash flowing businesses that replace their job income from the moment the business is handed off to them.

As a newbie, these buyers have heard about doing business online, and they are excited by what it represents for them.

But remember… they are new at this.

That means they are looking for a cut and dried online business. They are turned off by overly complex businesses. Overall, they want to acquire a business for around $80k or less so they can get their feet wet. That amount is just small enough that they can afford it but big enough to be something real.

An $80k business will bring in right around $3k per month in net profit. While that is not always life-changing income, it is considered a good deal for most Newbie Norms just getting started in the online business world.

If your business in this range and know you’re talking with a Newbie Norm, focus on systems and support. The systems you developed to run the business will show the Newbie Norm that they can just apply your standard operating procedures to run the business.

Also, if you are willing to provide a good amount of support to them after the purchase (whether email, Skype, or a mixture), let them know that; it gives them more faith that they can succeed. After all, you are the expert in their eyes.

If you are unwilling to provide this support and have no systems in place to hand off to them, it might be best to deter a Newbie Norm from purchasing your business. One way to do so is to only accept a full cash upfront offer. If you rely on a payout, you may put yourself in a situation you really don’t enjoy, and the Newbie Norm certainly won’t appreciate how little support you showed them.

Always keep in mind, selling your business should ideally be a win-win for both you and the buyer.