There are many challenges for business owners and entrepreneurs when selling their businesses, for example choosing the right broker, the lengthy selling process, protecting the IP and getting the key players on board. On top of that keeping the business operational while seeking to maximize business value.
At BLD Consulting we have identified 5 ways to increase your business value before you sell your business.
Seek advice early and develop an exit strategy plan
Exiting your business is part of the natural process, so start your dialogue early and work your desired exit value and the time frame.
Get some experienced advices and develop your exit strategy plan with a reasonable time frame.
Develop a profit maximization plan and put it into work
What is your return on Investment with the business? Do you know what it is? If not conduct a financial audit to identity your cost and profit.
Sometime to maximise your profit may just be simply getting an extra transaction from your existing customers, increase your margin by 10 percent or develop a better conversion sell strategy to get your potential customers over the line.
Increase sales and lower OPEX expenses
How effective is your marketing campaign? Conduct a sale audit for your business to see where your leads are coming from, then work out which marketing campaign generate sales for you and focus your effort on it. Keep an eye on the marketing campaign to check the lead generation on a regular basis. The other things you need to do is to reduce and minimise operation expenditure. Learn to reduce OPEX expenses and adopt it as part of your business culture. Remember increase sale and reduce your OPEX will improve your bottom line.
Create a longer Industry and business vision
By an innovator in your industry and align with your business vision. Identify what are the business as usually in your industry and redesign your industry to create greater value.
Develop Creditability within your industry.
To develop creditability, you may start writing article for your specific industry and joining the industry association. Start to give speech for industry function and forum. Be part of the industry!
Take time to develop creditability and so get moving!
Five ways to increase your business value are part of the tactics at BLD Consulting use to assist our clients to improve their Exit Value. At BLD Consulting we have achieved higher EBIT multiple for our clients than the standard Business brokers. With more than 20 years of experiences in business and consulting our experienced team will assist you with Start-up, growing, develop and exit your business.
Contact BLD Consulting today for a 45 minutes complimentary confidential discussion on +61 (03) 9018 7388 or email@example.com