The wisdom is you should start with the end in mind; but most businesses start with a passion or a great idea.
Business owners typically don’t give much thought to issues that might be important to a purchaser. Advisory Partner has now launched a free saleability tool to give business owners and entrepreneurs a tool to self-assess their own businesses or advisers to assess their clients’ businesses.
Completing the saleability score will provide feedback on some key areas that will impact on a business sale. It can assist with developing a pre-sale action plan.
There are simple things you can do to smooth the path to a sale. Some areas are difficult to influence dramatically, such as the market you operate in. While others, such as exposure to one major customer, can be the difference between being able to sell your business or not. These issues require strategies to deal with them, which could include expanding into a new market organically or through acquisition.
Give the saleability score a go now – click here.
Often business owners haven’t thought about how their businesses are valued, they just have a dollar figure they want in mind. Call Advisory Partner to discuss an independent valuation which will provide further feedback on where to focus to build value in your business.