If your brand means something to your community, your business is going to be more worthwhile to your buyers. Brand value plays a huge role in the attention that your business is going to get when you’re ready to sell. If you are seen as an integral piece of your community, region, or market, customers ...
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As business owners, we often have to step back and ask ourselves, “Will this bring value to our business.” Sometimes “this” is an upgraded technology that will make the inventory process easier or a promotional offer to increase seasonal sales. While those are important, an interested business buyer is going to look first and foremost ...
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We’ve spent the last two months looking at and dissecting the eight key drivers of business value. These drivers help you evaluate your business in a broad sense of what potential buyers are going to be looking for when they are thinking about purchasing.
These drivers are important because they help you categorize and promote various, ...
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How would your business run if you were out sick for one day? What if you took a week-long vacation or a month-long leave of absence? If the answer to those questions is, “It wouldn’t,” you’re probably running your business in the “hub and spoke” model.
This traditional business model is represented as a wheel. In ...
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The pursuit of incredible customer satisfaction is an investment in the current and future value of your business. In much the same way as establishing your shop in a niche location or moving up the recurring revenue ladder, building a customer experience that encourages lifelong loyalty to your brand is going to take time, money, ...
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The relationship between business value and the monopoly of control is a powerful one. A potential buyer will not want to buy your bait shop if it’s nestled in between two other bait shops. This situation does not create the kind of revenue stream that turns a business purchase into a long term investment.
So, what ...
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When a buyer approaches an owner about purchasing their business, many are inclined to talk about the great things that the business has done in the past.
Accolades, awards, sales records, and the length of time you’ve been open are all things to be proud of, but buyers are looking towards the future. They want ...
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In continuation of our series on the Value Builder System, we’ll discuss the importance of your business’ financial performance. The buying and selling of businesses comes down to a common bottom line: will this transaction make me money? By organizing and legitimizing your books before the sale, you are helping all parties have peace of ...
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Running your own business is a challenge, but it can also be very exciting. It presents opportunities and obstacles that you can’t plan for. Every journey in business ownership is different, but one frustration seems to resonate universally: no matter how long or hard you work, sometimes it feels like your efforts aren’t paying off. ...
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When it comes time to sell your business, you’ll receive a check. This check is the icing on the cake of all the blood, sweat, and tears that you poured into your business during your time as the owner. The buyer, on the other hand, is going to be writing two checks: the one that ...
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