Preparing to sell your business: Part 2/5

Selling your business is an overwhelming and daunting task. It’s stressful to even think about! Many entrepreneurs find themselves knowing that selling their business is the right next step for their personal lives, but simply don’t know where to start. I provide the framework and coaching you need to determine the value of your business and find the right buyer so you can enjoy the life you’ve worked so hard to achieve.

But until you’re ready to sell your business, let’s go over part 2 of 5 in this series.

#2: Work on Company Culture

Your accurate accounting will help generate interest in your business, but a healthy company culture will catapult interest into a different stratosphere! Nobody wants to buy a business full of dull, unhappy, gossiping employees. In a time where depression and anxiety are at an all time high, be the type of workplace where people are happy to come to work; where they genuinely care about their co-workers.

When a Potential Buyer visits your business for the first time their senses are hyper-aware, scouring for potential red flags everywhere. They will sniff out a toxic culture in a heartbeat! Happier and long-tenured employees are all good signs potential buyers are looking for!

This addresses the internal culture. The culture within. But what about the external culture? What do your clients and the local community think about your business?

To enhance the external culture and perception, diligently pursue Google and Social Media reviews. Ask your customers (and employees) to leave a five-star review if they are satisfied with your product or service. If your company is B2C you should aim to have over 200 reviews on each platform. If you are B2B have at least 50 reviews. Shoot for an average of 4.3 stars or higher.