One of the first things we say to our clients who are considering selling their business is that the sales deck is probably the most important sales tool you have
Perhaps sales deck isn’t the right word. After all, it’s not like we’re printing the thing out and faxing it to potential buyers. Some business brokers call the sales deck a prospectus or offering memorandum. Either way, we’re talking about a marketing piece that tells the story of your business to potential buyers.
So, do we need to be so old school here? What about putting it TikTok or Instagram? What about making a video version of the sales deck?
Photos and videos are an awesome way to tell the story of your business. A sales deck that uses video is absolutely a fantastic idea, but there are a few considerations.
- When you do your sales deck, you’ll absolutely want to include a few photos that show your business to potential buyers. As far as how many, we recommend a handful of photos that visually show what is for sale. We would advise sharing more photos with potential buyers once they have demonstrated additional interest in your business.
- Video can be an awesome way to tell the story of your business. The challenge with video is that any video would need to look nice and flow well. This requires some editing and most likely a video program. If your broker knows how to use a tool like this (we do, FYI), then potentially consider video.
- One of the biggest considerations for incorporating video is how to post it and share it. Of course, you’re potential buyer will sign a non-disclosure agreement, but then you’ll have to decide how you’re going to share that video with others and then make sure they do not share it. You’ll definitely need to make sure you have 2-3 reminders about the non-disclosure agreement in your video.
- The other consideration for including video is that you’re going to need to hand over financial information. While there might be a short video to explain unique points about the financials, the financials are will need to be in a report style – i.e., excel or PDF.
We love the idea of using video to market and sell businesses. It’s a great way to tell the story of your business and it’s so cool to be able to share information directly from the owner early in the sales process. All that being said, tread carefully with this medium. Make sure your video contains really good information and looks pretty. And don’t forget to drive home that message about confidentiality.
As always, talk to us if you’re considering selling your business. We’re not shady brokers. We have a different and unique perspective and we hope to meet you soon.
