When potential buyers look at your business, 4 main categories will entice them to make an offer or scare them away. When you know how to optimize these core elements of your business, you can set yourself up for success and boost your chances of a lucrative sale.
Flaws In Your Business and How It Can Impact Your Company When You’re Trying To Sell
Listen in to learn how your products, workforce, industry, and customers can significantly influence your business’s appeal to interested buyers.
Napkin Numbers Talking Points
[0:55] #1 How flaws in your business can impact the selling process
- Products
- Workforce
- Industry
- Customers
[1:17] #2 Products
- Are your products diverse?
- What sets you apart from the crowd?
- If you have one product, are you properly highlighting it?
[2:21] #3 Workforce
- Is your team big enough to allow for scaling and consistency?
- Does labor limit you?
[2:51] #4 Industry
- Don’t forget about your competitors
- Take into account the unique risk factors of the industry you’re in
- Exit at a time when your industry is healthy
[3:48] #5 Customers
- How highly concentrated is your customer base?
- Do you have a few big clients or lots of smaller ones?
- What happens if your big clients leave when you exit?
By knowing exactly what potential buyers think when they consider purchasing your business, you take the power into your own hands. Use the tips in this episode as a cheat sheet to prepare for an easy and enjoyable exit. The bottom line: show buyers that they’ll be able to transition into taking over your business without a hitch.
Ready to take the next steps on your exciting journey to transitioning out of your company? Use our free business evaluation calculator.
