I’ve recently finished reading a book from local Cairns author Sam Harrop called Small Business, Big Exit. The book has some pretty sobering statistics for small business owners that I bet you haven’t thought about before:
- 80% of small businesses are owned by Baby Boomers
- 7 out of 10 plan to sell in the next 5 years
That’s 1.4 million businesses for sale in 2025. That’s a staggering figure!
Not only that, but 90% of business owners don’t believe they’re ready for sale. If this is you, this book is a fabulous blueprint for help you get your stuff together and maximise your sale price.
We’ve Done This Before
Here at Precedence we’ve helped lots of businesses transfer over their online assets from one owner to the next, and we’ve seen the many issues when purchasers fail to get good info from vendors.
Here’s a quick list of the major things you should have when buying:
- List of domain names for business
- Domain name passwords
- Contact details for hosting providers for all domains
- Login details to hosts’ control panels
- Dates of billing period for current hosting providers
- List of email addresses for all emails
- Login details for all email addresses
- List of all essential software like reservations systems, cloud storage, server access etc
- Critical contacts list of all people associated with providing online support
- Access to social media profiles
- IP of any material published by the business; logo, photos, designs, etc.
In our experience there are very few business have everything neatly sorted. In fact, it’s often an absolute fight!
If you’re selling your business and need some assistance with gathering all the data required for transfer, or you’ve bought a business and you’re not sure what to do to check you’ve got everything, give us a call.
We can definitely help get your online ducks in a row.
And in the meantime… read Sam’s book!
Director of Precedence