What steps do you need to take to grow your business sale value?
Business owners are always great at what they do. They know their business inside and out.
But what happens when it’s time to sell your business? Do you have the results you need to justify the price you want?
Most of the time, business owners need to start working on their business instead of in their business. What we are doing to help our business clients is acting as the external advisor to their business, helping them follow the three steps essential to building their business sale value.
1. Find your Purpose
Your business needs desire. You need something that is going to drive your business from now until you sell it. You need purpose.
You find your purpose by asking why? Why do you own a business? Why did you choose this industry?
2. Set your Goals
Once you know your purpose you need a target for the future. Is it your business sale value in 5 years’ time? Or is it more personal like days where you don’t have to go into work each week? Whatever your goal is you need to set it for a point in the future and work towards it.
3. Monitor your Progress
It is one thing to keep track of where you are compared to your target but what happens when you fall short? How do you stay on track?
Ask your accountant! We can act as the external advisor to your business, running a second set of eyes over the numbers and your business processes to let you know if anything seems abnormal.
The process we take in improving business sale value is allowing our business clients more certainty of what they’ll receive when they sell their business. The last thing you want is to have a great business but because you didn’t plan ahead, you didn’t get as much for it as you needed.
Talk to Total Accounting Partners today about maximising your businesses sale value – you can’t afford not to.
General advice disclaimer:
General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.