Engaging with buyers
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Once your project is submitted, reviewd & approved, interested buyers will contact you through SideProjectors, which you will be notified via email. All offers and subsequent messages exchanged are available through your Inbox.
As a seller, it is completely up to you to engage with these potential buyers. Do not accept offers from buyers you don't want to sell your project to. We strongly suggest you take your time in talking to the buyers. In addition to the exchange of emails, we recommend you to speak to them via other communication channels such as Skype, Google Hangout. Do not sell to anyone before speaking to them first directly and finding out all the information you can. Here are some tips when engaging with potential buyers.
  • Talk to them face-to-face via video conferencing tools such as Zoom, Google Hangout and Skype.
  • Do your own due diligence and background research on the user - ask for social media public profile (e.g. LinkedIn).
  • If possible & applicable, you can also use third-party ID verification services (e.g. Jumio).
Arranging a sale
Once you and a buyer are in agreement of the sale, you can arrange how the different assets of the project can be transferred and how the payment can be made. Please note that SideProjectors is not involved in the sale process whatsoever. You as a seller need to ensure that the sale is valid, the buyer is legitimate and own all risks involved during the sale. Here are some tips when arranging a sale with an agreed buyer.
  • Make sure all/any legal & sales-related paperworks are done. Often, there are documents such as Letter of Intent, Non-Disclosure Agreement, Contract of Sale and Transfer of Intellectual Property involved. If you need any of these, please make sure you consult your lawyer and have all documents signed by both you and the buyer before proceeding with transfer of your project.
  • List all assets that will be included in the sale - e.g. domain name, code, design materials, data and agree with the buyer and work out when and how they will be transferred. You can also think about receiving certain amount for each asset that is transferred.
  • We strongly recommend you use an Escrow service (e.g. Escrow.com), which will mediate between the transfer of money and your assets.
  • You should also discuss with the buyer on a refund policy, if there is one. Is there one? If you allow a refund, how would it happen? Make sure that both parties agree on this policy.
  • At times, buyers would request if certain custom extensions can be done before purchase is made. In order to save your time and to make sure that you are only dealing with a legitimate buyer, we recommend that you include the extension work as part of the sales process so that you don't do any needless work in case the buyer no longer engages.
After the sale
Congratulations! That's it. You probably need to celebrate. The last small request from us would be to please mark your project on SideProjectors as SOLD and let your friends know about SideProjectors.
Got questions?
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