BOOST Business Coaching

What’s the last thing you should do before selling your business? What’s the first question you should ask yourself before opening your business? Answers below
It would be fair to say that a lot of BOOSTs enquiries come from people looking to sell their businesses. How come the ice cream shop owner knows how to sell, market and add value to ice creams by sprinkling chocolate , putting in flakes and sticking sweets on them to turn 50c ice cream into a $3.50 masterpiece. Yet when he comes to selling his ice cream business he presents and promises potential purchasers a complicated, hard to run business with no end of hassles, unrelenting hours, no lifestyle, lack of financial return and a pretty gloomy unreliable financial outlook. Why would anyone want to buy into that?
Business Sellers today are in a highly competitive situation. As baby boomers look to retire over the next 5 – 15 years there is an ever decreasing supply of business purchasers with your particular skills and a bundle of cash large enough to buy your business. Yes there are people who want to buy your business but buyers have a choice and they are not going to give your business a look in over an easier, less complicated enterprise.
The best time to think about how you are going to sell your business of course is the day you open your business or as a second option TODAY. Start planning now for the big pay day! Here are some of those factors that potential purchasers are looking for when deciding on what business to buy
1. Your Business can show proof of long term ongoing work
2. It has a recurring profitable revenue stream
3. Employee and customer churn is minimal
4. You can prove that there is more income growth in the business – and how to achieve it
5. You can show value of intellectual property – (Name, brands, etc)
6. Can be run simply and easily by anyone
7. Shows an excellent return on the capital investment

BOOST works with businesses to realise an absolute maximum return for their (sometimes years) of hardwork. We also work in with the premium Greater Wellington Business Brokers Paul Berryman and the team at Ray Whites. Our clients get an amazing competitive advantage when they decide to put their business on the market.
Whats the last thing you should do before selling your business? Put out the for sale sign of course. Talk to BOOST or Paul Berryman as soon as you start to think about selling.
PS – What’s the first thing you should when thinking about going into a new business? Figure out your exit strategy. That way everything you do in your business adds to your business.