Thread by @awilkinson

1/ Four types of people buy internet businesses:

🤩 Strategics buy your business because you solve a problem for them or add to their existing offering in some way. Less about the business vs. the problem you solve/team. Your business/brand may disappear. (Public/Private Corps)

2/ 🤗 Holders buy your business and hold it for the longterm, making tweaks (sometimes aggressive, sometimes not) along the way. Your business and team likely continue to exist. (Holding Companies/Conglomerates/Family Offices)

3/ 👩‍💼 Flippers quickly boost results in the short-term, then re-sell/flip the business within a few years. The changes might be difficult for your team and Your business/brand/team could change radically when it's re-sold. (Traditional Private Equity)

4/ 🧑‍🔧 Salvagers look at your business like a cigar butt. They rip it open for the tobacco within and then smoke it until it's gone. It's about harvesting as much profit as they can until the business dies. Biz/team will probably not exist in 5 years (Synergized Tech Holdcos)

5/ Each is its own beast and right for different circumstances, priorities, and levels of distress or success, but you should always try to figure out who you're talking to.

Who you sell to will define the outcome of your business and team in the longterm.