3 Areas to Focus on When Selling Your Business

3 Areas to Focus on When Selling Your Business

By Carol Gresham

Covid 2020 forced us many of us to pivot. A pivot may cause business owners to lose the primary focus of strengthening and building a strong business that we hope to sell one day or pass on to a family member.

As business owners we should always plan and build strategies for growth, including conceiving new products and services, integrated offerings, or expansion. In this way, sales are fundamentally about the execution of strategy.

As you think about selling your business at the highest price possible how are you preparing and executing your strategy for a future sale?

Consider the basic elements of most strategy frameworks, typically centered on the following areas of focus:

  • Objectives: The overarching goals the organization intends to achieve. Some of these goals are growth oriented like revenue, margin, products per customer, etc.
  • Market: The primary base of potential customers to be pursued and won.
  • Competitive Advantage: The reason (or reasons) that customers will ultimately choose to work with you instead of competing options.

Then when you are ready to sell at the highest best value, make sure you select a business intermediary to help guide you through the selling steps.  CBI has a 25+ year proven process and follows the framework and strategies as listed above.

Call (877-582-5200) or email carol@cbiteam.com today for a no-obligation consultation on adding value to your company to prepare for an exit.