Social media has become an important component of running a successful business.
However, when you’re ready to sell your business, you want to make sure that social media is an equally important part of the sale.
Imagine all that can be done with a little work on social media during the selling process.
Maybe You Announce Yourself
It is not advantageous for everyone to run to Facebook or Twitter and announce that they are going to sell a business. However, it is advantageous to announce on social media sites that you are seeking business partners for anew venture.
You may well get some responses in this way, and then you have prospective buyers at the ready. Some people may be willing to listen and some may not, but this is not a bold announcement. This is a way to let people know what’s going on.
After It Becomes Known You’re Selling
Selling a business is a long process that requires due diligence from both sides. Part of the due diligence of the buyer is to see that those selling businesses have a loyal customer base. It is rare that someone is going to want to purchase a business that does not have loyal customers.
Simply seeing positive feedback on social media from customers ensures buyers that they are purchasing a business that has a loyal customer base.
It Also Drums Up Interest
When the word starts to get out, more customers will come out of the woodwork and that will allow for more value to be assigned to your business.
You are going to sell a business to make a profit from it, and the best way to do that is to make sure the buyer pays a fair premium for what you have.
When customers see that the owner is selling a business, some will be very upset, but this is time for the buyer to see hat they have work to do, but also to interact with their potential new customers.
Especially as the sale is completed, you’re giving your buyer a chance to interact with the customers before they get slammed their first day on the job.
No one wants to be surprised, and social media takes much of the surprise out of the purchasing process for these buyers.
Make Proper Announcements
If you are selling the business to a company that intends to change the business or dismantle it, you might be fine with that but your customers may not be.
Having the ability to announce to them that final inventory is being put on sale will give you a chance to reap the benefits of a final push for business.
This could equally benefit the buyer who might be able to get something out of a final sale and is, therefore, willing to spend a hefty premium to get the business from you.
Social Media Keeps People Connected
You want to be able to interact with your customers after you sell your business. So, you might be happy to be selling businesses, but you might also want to have customers follow you to a new business. You can’t do this without a big dose of social media.
This allows your loyal customers to see where you’re going next and participate in and remembrances of your old business. You don’t want to be out in the cold when you sell, and social media keeps you right on the front lines.
Selling a business can be very difficult, and using social media to improves the chances of selling, inform customers, keep the business looking good, and to bring people along with you to your next venture is just a wise thing to do.
No one every got anywhere by not talking, and using social media to talk wisely can make the process of selling much easier for everyone.