Microns: New Micro Startups For Sale 🚀 - Acquisition Timeline
Namaste 🙏🏻
I hope you had a great Halloween day.
This week I will show you how you can be a more serious seller.
Buyers love it when the person is prepared and knows the steps and desired results.
Similar to raising money from VC.
The first thing would be to set your timelines.
Let's go.
P.S. Do you know what language I said "hi"?
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🕰 Acquisition timeline
To sell your startup faster and smoothly, you should arrange one simple step — create a timeline for your deal.
You should have a clear plan of what you should do and when.
This will simplify the process not only for you but for all potential buyers.
A lot of buyers are ready to buy, but they are looking for serious and educated sellers.
So let me show you concrete things you need to do. The first one would be to set a timeline.
Be upfront.
Don't play this game where you are sort of for sale but like not really for sale 👎
Openly communicating your wishes with the startup's buyer is a key 🙌
— Ilya Novohatskyi 🇺🇦 (@ilyanovohatskyi)
Nov 1, 2021
Create a simple doc where you would set deadlines for each step of the acquisition and your desired output.
For example, you plan to sell your micro startup in two weeks. Let's split this time for each action.
To prepare your startup for sale, you allocate two days, document everything for the buyer, record videos for different parts of the app.
Due diligence and Q&A. You should spend a significant part of your process; let's put ten days. The more things you have documented for the buyers, the faster you go.
Then in one day, you choose the more reasonable offer and transfer assets/money this or the next day.
In the offer, don't forget to negotiate the support period. The most popular period for micro startups is one month.
Follow these steps strictly, so it will help you get "yes" from the buyer rather than going back and forth for months.
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THREAD 🧵 ↓
— Harsh Makadia (@MakadiaHarsh)
Nov 1, 2021
💌 Share with a friend
If you found value in reading this issue, please consider sharing it with your friend.
Let me know if you have a story about selling, buying, or partnering on the project. I will cover it here so other readers can learn.
Stay awesome,
Ilya Novohatskyi