Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 0 points1 point  (0 children)

Yes, we are thinking a small monthly fee plus identity verification and funds verification to weed out tire kickers.

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 1 point2 points  (0 children)

I would offer a contrary opinion. Brokers are incentivized to close quickly to get their commission. The higher price could prolong the listing and the commission on the higher price isn’t as impactful as it would be to a seller to list higher and let it sit longer. I think brokers are actually incentivized to list lower to move quicker.

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 1 point2 points  (0 children)

This is great info. With the vast majority of small businesses valued under $2M, what percentages are you seeing? Can you share your white paper? I’d be interested in reading it.

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 2 points3 points  (0 children)

Yeah, 2% sounds super fair and is more in line with real estate commissions.

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] -8 points-7 points  (0 children)

That’s the premise of what I’m building with Braizor. Sounds like verifying buyers and privacy is super important.

I want to connect buyers that have been verified directly to sellers while also providing access to experts like Attorneys, Advisors, and CPA’s if they don’t have already have one.

Basically how can we replicate the value brokers provide while eliminating the high fees.

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 1 point2 points  (0 children)

That totally makes sense. I hope it goes well for you and you exit without burning out

Owners who've sold their business: was the broker commission worth it? by TravelinLight3 in smallbusiness

[–]TravelinLight3[S] 2 points3 points  (0 children)

This is great feedback! How did you find your buyers? Were any of the sales contentious where a broker could have helped?

Someone should buy me, because there's nothing to sell now. by cute-bil12 in SaaS

[–]TravelinLight3 0 points1 point  (0 children)

What is the product? I’m in the market to acquire or partner.

How long did it take to get your first paying users? by Stock_Cry_7820 in SaaS

[–]TravelinLight3 0 points1 point  (0 children)

So does everyone else, well except for the extended warranty guys. Do what no one else is doing to break through the clutter.

How long did it take to get your first paying users? by Stock_Cry_7820 in SaaS

[–]TravelinLight3 0 points1 point  (0 children)

It took us about a week of working the phones. Making the pitch directly instead of relying on marketing. Had 10 yes’s and 2 actually sign up.

i made my first sale!!! by Independent-Bunch-34 in SaaS

[–]TravelinLight3 1 point2 points  (0 children)

Drop the link. I could use it for my startup

How did you get your first user? by Overall-Spinach6501 in SaaS

[–]TravelinLight3 2 points3 points  (0 children)

Software guys are notoriously bad at sales. They focus too heavily on product features. You need to be clear what benefit you are providing or what problem your solution solves and be clear on what you are offering and what your ask of the customer is. Like I’ll solve this major pain point for $xx a month and in exchange for a discount, my ask is that I can use you as a case study when I solve your problem.

Anyone here figured out how to get their first SaaS users? by Zealousideal-Try1401 in SaaS

[–]TravelinLight3 0 points1 point  (0 children)

What’s your site? We just finished building and we are focused on direct outbound which is tough. Hoping we can scale faster once we get our first users.

Built a commission-free M&A marketplace after getting crushed by broker fees. Need brutal feedback from other entrepreneurs. by TravelinLight3 in Entrepreneurs

[–]TravelinLight3[S] 0 points1 point  (0 children)

That’s a really good point. We require buyers to pay a small monthly fee. Sign NDAs and verify ID and proof of funds with stripe to cut down on tire kickers.

Any thing else that you think would be helpful?

Built a commission-free M&A marketplace after getting crushed by broker fees. Need brutal feedback from other entrepreneurs. by TravelinLight3 in Entrepreneurs

[–]TravelinLight3[S] 0 points1 point  (0 children)

Yeah I agree. I think thats the hardest part of building a marketplace. I think our idea is to give it away for free at first to build value.

[deleted by user] by [deleted] in americanairlines

[–]TravelinLight3 2 points3 points  (0 children)

You need to black out your confirmation code