ByLien De Pau, Contributor. Lien De Pau, founder of The Big Exit. Sell your biz for max value.
What if the perfect buyer for your business is already in your inbox? Or sitting across from you in your Monday team meeting? Most small business owners don’t need to post their business on a marketplace or hire a high-fee broker to sell their business. They just need a better system for identifying the right buyer, at the right time, with the right motivation to say yes.
In this article, you’ll learn a 6-step framework, with a practical, proven path for finding the buyer who sees value in what you’ve built and is ready to take it to the next level.
Step 1: Understand the Different Types of Business Buyers
Before you go looking for a business buyer, get clear on who you’re actually looking for. There isn’t just one type of buyer, there are three main ones, and each brings different expectations and priorities to the table.
Strategic buyers are often companies already in your industry or a related field. They pay a premium because acquiring your business gives them a strategic advantage, like new customers, products, or market access. They’re harder to find, but they often pay the most.
Financial buyers look at your business purely as an investment. They’re focused on financial performance, return potential, and future cash flow. They don’t care as much about industry fit, they care about profitability and scalability.
Lifestyle buyers are common in smaller deals. Think solo entrepreneurs or operators who want to step into a stable business they can run themselves. These buyers want cash flow, simplicity, and a business that doesn’t require a huge team or complex systems.
Knowing which buyer type fits your business helps you tailor your pitch, prepare your materials, and choose the right outreach strategies.
Step 2: Start With Your Inner Circle
Most successful small business exits happen behind the scenes, long before anyone lists their business publicly. The reason? Trust. Your buyer is likely someone who already knows you, respects your work, and understands your business.
Start by making a list of potential buyers in your existing network. Think about:
- Employees who have expressed long-term interest or loyalty
- Co-founders or business partners
- Family members already involved in operations
- Long-time suppliers or vendors who know how your business runs
- Loyal clients or customers who might want to expand
- Industry peers or even indirect competitors who understand your space
Don’t overthink it. Just brainstorm 10 to 20 names or companies and rank them by two things: trust and alignment.
