10 Commandments of an Online Business-For-Sale Listing

6. Be descriptive and specific

This isn't the time to be stingy with details. You can't turn your ad into a novel, but in short statements you need to describe your business, its history and its strengths, in enough detail to cause buyers to think you have nothing to hide and much to like. This is your chance to differentiate your business from the others that the buyer might consider. Don't spare words and risk losing them at the starting gate.

7. Include pictures

Without revealing your business identity, present photos that convey the quality of your business interior, equipment, or other aspects that will heighten buyer interest and confidence. At a minimum, if you can't include a photo that doesn't give away the identity of your business, include a generic photo to catch the buyer's eye. For example, if you're selling an Italian Restaurant, a nice photo of a classy looking dish of spaghetti and meatballs should be enough to draw the searcher's eye to your listing.

8. Retain confidentiality

Without revealing your business identity, provide as much information about your business and its location to prompt buyer interest. Disclose your state and county without telling your city (if it's small and you're one of few businesses that match your description) or address. Instead, provide general information, "near major highway," "one of the town's busiest streets," "one of the leading players in the industry."

9. Upgrade your listing if doing so will improve responses

Especially if your business is of high-value and of interest to only a narrow buyer segment, consider investing in what's called a "showcase ad," which places your listing above others, sends it via email to potential buyers who match your buyer criteria, and provides you with a prospect list for personal follow-up. If you're uncertain about the benefit, start with the basic ad and then consider upgrading if you aren't happy with the response.

10. Proofread

There's nothing like a typo-riddled ad to send buyer interest (and price offers) southbound. It's your sole responsibility to double check the text you provide to listing sites. Use spell check, proofread it yourself, and then give it to a trusted, confidential advisor for a final review before releasing it for online posting.

Mike Handelsman is group general manager for BizBuySell.com and BizQuest.com, the Internet's largest and most heavily trafficked business-for-sale marketplaces. @BizBuySell