Today we are doing something a little different. I’ll share the best articles on buying and selling small and medium-sized businesses, and I’ll give you access to incredible resources that can change your financial situation.

You’ll see step-by-step guides on how to buy and sell businesses without losing money. Below I highlight my three favorite articles on buying a business and my three favorites on selling a business, so I got you covered.

Examining our Favorite Articles on Buying and Selling Small and Medium Businesses

Each article is going to fall into one of three categories:

• The most comprehensive 
• The most concise 
• The most actionable 

Let’s get right into it.

The Best Articles on How to Buy Small and Medium Businesses

• The Most Comprehensive 

This article is like a summary of Harvard Business Review’s guide on buying a small business. It contains the author’s notes on the book. By reading it, you’ll learn plenty of useful information like the skills, the amount of money, and the preparation you need before buying a business. You’ll discover the insights you need to buy small businesses that will provide you with consistent cash flow. 

One of the insights you can take away from this article is that you’ll need to budget for a two-year search when looking for a business to buy. You’ll likely find it sooner, but it’s better to have the money to focus on finding a quality company.

• The Most Concise 

This article by The Balance is the most straightforward article you can find on the Internet on how to buy a small business. It will walk you through the necessary steps without overwhelming you with tons of information. If you want a quick walkthrough on how to buy small and medium-sized businesses, this article will do.

• The Most Actionable 

Nerdwallet’s article gives you an 8-step checklist of what you need to buy an existing business. It’s a step-by-step guide on how to acquire an existing business. It contains helpful information that is easily digestible for beginners and experienced readers alike. 

The first thing the article challenges you to do is to figure out what type of business you want to buy. Do you want a business that you’re hands-on or something you could easily outsource? You need to make that clear before you start your search.

The Best Articles on How to Sell Small and Medium Businesses

• The Most Comprehensive 

Minerva Equity’s article will give you tons of helpful information on how to sell your business in 2021. You’ll see how to calculate how much your business is worth. Also, you’ll learn what type of preparation you need to do based on the type of business you run.

You’ll see who buys small and medium-sized businesses, so you’ll know who your target is.

• The Most Concise 

This article by Thomas Net is one of the most straightforward articles you can find online on selling a business. It will walk you through the preparation process which includes:

• The documents you need before you start selling.
• The business processes you need to improve.
• The succession planning you need to do beforehand.

Also, you’ll discover if you need to use a broker for the deal. Not using one can save you money, but finding the right buyer might be more challenging.  However, if you use a broker, you’ll likely sell at a higher price because they want to maximize their commission.

• The Most Actionable

If you want a simple article on the exact steps to selling a small business, the article by Investopedia will give you the seven steps to selling your business. The first and most crucial step is to figure out why you decided to sell the business in the first place.

It’s the first question that the potential buyer is going to ask you. You need to be crystal clear on the reason. Are you going to sell your business because you want to retire or because you’re bored? You need to communicate that first with yourself and then with the buyer.

Summary

These are the best resources online for buying and selling small and mid-sized businesses. They will give you most of the information you need to start the process. However, you should assess your financial situation before buying/selling small and medium-sized businesses. The last thing you’d want is to lose money because of a lack of preparation.

Yours Unconventionally,

Codie & Ryan

Co-founder- Unconventional Acquisitions

If you want to learn more about researching, analyzing and buying businesses, check out the articles below:

• How to 10X Your Dealflow – Uplevel Your Contacts
• Turn Your Skills Into a Cash Substitute 

You can also register for the course here OR if you are serious about buying a small business, join our Mastermind.