In the previous posts of the blog topic, we discussed several factors on the tell-tale signs that whether your business is sale-ready or not; we’ll continue from where we left in the previous blog. But before we deal with the last two factors at hand in the concluding part of the blog, a reminiscent of the factors that would set the tone for your business to be sale-ready: demonstrable systems, knowing the numbers required and inability to raise funds for scaling the business up to the next level. Surprisingly, the last two factors may seem pretty basic, but businesses that lack in these may still be left behind in terms of saleability.
Offline & Digital presence – Branding
Any business that has a great offline presence can be irresistible for a business buyer. Businesses for sale are also judged by its overall looks and brand packaging. Branding speaks its own language, and how it is perceived by potential buyers could be either a deal maker or breaker. Whilst communicating its core message, branding puts across the key differentiators and values that define a brand or business. If the business has a brick and mortar location or a Mom and Pop store, it has greater prospects of saleability.
Buyers shouldn’t feel they need to provide everything a makeover or even cosmetic engineering to uplift the brand image. When it comes to digital presence, any business should be listed on ‘Google My Business’, have a functional and well- designed website, social media pages, branding elements, search engine rankings to create that all important first impression.
Next, an organized office stocked with the latest equipment and accessories will come across as sales-ready than one which lacks in aesthetic seriousness. Any prospective investor or buyer would feel like the business owner is serious about growing his/her business and taking the leap forward.
Doing the homework right
Start-up owners or entrepreneurs prepare a pitch document that forms the basis for seed funding and subsequent rounds of funding to fill investment gaps. Similarly, even a well-established business must prepare an attractive pitch with the selling price that is based on market facts and not just gut instincts. Remember than only your numbers speak for yourselves any day; rest is only perception. Therefore, understand the indicators that your business is likely to project in the selling process. To conclude, a business built on strong values, robust process and positive culture may readily reflect on its bidding price, and thereby expect a major profit.
