Many owner/CEOs have recently despaired about their ability to sell their businesses at acceptable prices under current market conditions. If buyers are interested, it’s often only at depressed prices.
We are always on the lookout for new tips for addressing this challenge. Mark Cadbury recently offered his 10 Ways to Maximize the Sale of Your Business. Here is Mark’s list:
- Ensure Customer Diversity
- Develop Management and staff
- Systematize the business wherever possible
- Focus on Recurring Revenue
- Develop Proprietary Products/Technology that cannot be copied easily
- Engage a Team of outside professionals
- Broaden Product Diversity
- Develop and maintain Key Performance Indicators (KPIs)
- Prepare a Written Growth Plan
- Invest in a quality accounting system
This list is good advice for any business owner regardless of whether you are currently looking to sell your business.
Read Mark’s article and commentary.
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