Small businesses are used to bootstrapping and implementing guerrilla tactics, and therefore they’re used to getting the word out via networking, flyers, even signs in windows – none of which works well in the business sale process. As the preceding section in this chapter explained, this is a time for discretion and confidentiality.
You need to offer your business for sale in a manner that doesn’t tip off customers, creditors or employees. And most certainly you don’t want to let competitors know your sale plans – unless you’re considering a specific competitor as a likely buyer.
If you know a specific person or business that’s likely to buy your business, you can proceed with a confidential inquiry. To cast more widely for buyers, the only safe approach is to offer your business for sale discreetly and without identification, using brokers or blind ads to get the word out.
