Using Technology to Sell Your Business
KK Ludwig-Lapper | AcquisitionPlatform.com | Back to Resources »
Let's face it, sometimes there's just no substitute for a good old pen and paper. Shopping lists, calligraphy practice, testing that new Sharpie... the list goes on. Pens are easy to use. Paper is easy to read. Your spiral-bound notebook probably won't crash and your legal pad doesn't surprise you with 'error -5000 this document is corrupted' messages.
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But pen and paper, almighty as they are, have limits. It's difficult to send a paper document 5,000 miles in a few seconds, regardless of how friendly you are to the clerk at Kinkos. Paper can't be edited and updated without some serious White-Out action. It costs money to print paper, ship paper, and dispose of paper. Unnecessary paper products are not good for the environment. And don't even get me started about paper cuts...
When it comes to selling your business, it's a good idea to prioritize your requirements for presenting your company, getting the right information into the hands of the right buyers, and making a lasting impression. We know that you rarely sell a business to your next door neighbor, and chances are you'll find a buyer somewhere across the other side of the world. If your potential buyer has a lot going on - meetings, lunch, travel, family - you'll want to get in quickly and show your company in the best possible light. Imagine being able to send company information, securely and instantly, directly to the interested buyer, letting them peruse the information in their own time at their own pace, and search for exactly the information they need, exactly when they need it. Paper can't do that. Digital can.
A secure, online application, like the Acquisition Platform Virtual Data Suite (VDS), can provide the technology to sell your company, without the hardship of learning about technology. All the tricky stuff is taken care of behind the scenes. Hosted on a SSL-encrypted server and featuring an approval-only access system, a VDS puts you in control of your company data, allows you to pre-qualify potential buyers, and only once you're happy, grant them access to your information - or some part of it. Your data is secure, backed up and confidential, but at the same time, easily accessible and instantly available.
So how does it work? Essentially you have an Acquisition Candidate Report locked up in an online vault. When a company is interested in some M&A with you, they'll ask for a key. You can pre-screen them, check out their credibility and finances, before letting them take a look. Once inside, they'll be able to view your company information, financial data, history, management - any information your provide. They can download the report to print or read offline, or view the web-version, search, print sections, review and revisit as often as necessary. But don't think they have a free-reign with all your data - Acquisition Platform tracks users time online, including IP addresses, which can locate a computer anywhere in the world. It's a very secure system, and far more secure than sending all your sensitive data through the mail to some unspecified po box in the middle of Texas.
Part of the Virtual Data Suite also features a communications hub. A forum-based system allows approved users to ask questions to the selling company, and you can respond. Messaging can be viewable to all of your registered members, or completely private. You can also send attachments, securely and privately. You can use the same messaging system for help, technical support, general questions or demonstration purposes.
Technology is really an asset to a selling company. It's not something to fear or be wary of. A company that embraces technology has a great advantage over hard-copy-only companies, with slow logistics and outdated performance. Making an impression has never been easier, and with tools like Acquisition Platform's Virtual Data Suite, all the hard work has been done for you.
And if you still miss the ink and parchments days, Acquisition Platform offers printed-and-bound Candidate Reports, too.
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KK Ludwig-Lapper is a technology specialist and freelance consultant. He has worked with many companies, offering technical and design consultancy and services. For more information, visit keviano.com |
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