I was thinking of setting up a virtual assistance business, but the idea behind it is to sell it (and sell it fast) because I won't be able to maintain it if it continues to attract users. I'm not thinking huge. I have two realistic milestones: First: to acquire enough users with steady profits. I'm aiming towards ($2000-$3000) per month. Second: to sell it afterwards to a related service/agency/product house that can improve on it. Again, I'm not aiming towards a seven-figure exit. (I will be happy with $35000) How should I approach this matter? What should I consider before/while/after developing the business?
Hi there, There are so many directions you can go, however, I would suggest you do some due diligence around a few areas:
1) what would someone be willing to buy
2) what would they be willing to pay for it
3) what would make it sellable
If you can clearly answer those questions, you'll have a better idea of what your business will want to sell.
Also, I'd like to suggest you rethink your numbers. Given what it will take in investment of time and money to create something that is sellable, you'll certainly want more than $35,000 for it.
Answered 8 years ago
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