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What can small businesses learn from sellers on Craigslist?

02 Jan

CraigslistIf you have ever used craigslist for buying or selling your items, then you know what I mean. Now, let’s assume…. if you want to sell your 1 year old car on craigslist.org.  What would you do in that situation? You might go to a local dealer or kbb.com, and try to find out reasonable price for which you can sell your car. You might want to sell your car for a premium price, if you have detailed records of all the older services and maintenance.
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Put snapshot of some artifacts: Most of the times, people put pictures to sell their items on craigslist, in order for a buyer to believe in their product. In similar way, as a small business owner, you need to put some kind of a snapshot of the company in your business plan, when you try to sell your business. Make sure to include graphical representation of company’s financial health, company’s culture, major achievements, etc. One can also use pictures of big dealings and snapshots of company’s events as a showcase for their achievements.
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Be ready to bargain: 9/10 times, people expect to bargain on any given offer on craigslist. If you have ever sold anything on craigslist then you know that people will call you up and they want to meet you before buying the item. And when they meet, they basically bargain for the product. It even comes to the point where they barter. So, if you were not ready with your bargain offer and your priorities, you might lose the trade. Thus, as a small business owner, when you want to sell your business….please be ready to bargain. If possible, be ready with few scenarios of offers and counter offers.

Craigslist ad expires after certain time: In the similar manner, you should have a date on your offer. Everyone knows that you want to sell your company, and that’s why you are out in the market. But if your offer doesn’t have an expiry date then it might create issues if your business appreciates over time.

I hope these tips will help you to sell your business for a competitive price. Let me know, if you have any other ideas to sell your business effectively. Thanks. – Bhavin Gandhi

 
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Posted by on January 2, 2012 in 21st Century, Leadership, Management

 

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