Have you ever wondered why some companies struggle, while others seem to grow effortlessly…
Chances are – those Businesses winning the game are answering the following questions better and with more clarity – from the Customers point of view…
Why is this important…
First and foremost, the market is extremely competitive and now provides your customers with greater access to information than ever before. Therefore unless your business continually educates the customers as to your dynamic value propositions, the only factors... your business will be doomed to compete solely on price.
Embracing, understanding and implementing this philosophy within your business will allow you to grow faster, increase your profitability thus allowing you to sell your business for more – when that time comes.
Furthermore, if you’re like most small business owners, your business is part of who you are so getting this right is extremely important.
As a business broker, I have had the opportunity to sit down with hundreds of business owners in an array of industries to discuss valuations as well as many other topics, and in all cases they ask… What is my business worth?
The correct answer is always… What a qualified buyer is willing to pay.
Selling Your Business for More, starts with a Strategic Exit Planning.
How prepared are you to Sell your Business? There are eight key drivers to increase your business valuation. This all starts with understanding your Business Value Score. In reviewing over 40,000 businesses we have found businesses that score over 80 have received offers that are 71% higher than average businesses.
Yes, there are different valuation methods to use as a guideline, however in the end after the dust settles and due diligence is completed, the value of the business will be based on several factors, such as location, products & services offered, management team and – most important – the value your business brings to the market-place relative to the competition.
Therefore, it should be the goal for every small business owner to generate the greatest return on investment of both your time and money. To do so, it is critical to continually exercise sound business practices as well as activities that educates your customers as to why your business delivers the best dynamic value – your only factors – of both products and services to the market-place.
Needless to say, every business owner deserves the right to learn how to increase sales, and how to multiply their profits which will easily increase the valuation of their business… Unfortunately many never take action or wait until it is to late… which in almost all cases cost them thousands or tens of thousands of dollars.
Simply Put, the right systems lead to revenue growth and increased profits, and the bottom line is this; prospective buyers will evaluate all of these factors – and more.