Sara El Kareh
Sales of a company are not made within one night. They must be prepared several years in advance. A business owner should not rely on chance, and should not wait to be ready to sell, for it is just the biggest mistake that shows that he/she is already in a failure phase. Sales should be previously planned and scheduled, just as a pilot checks all the passengers before taking off. It is true that when a business grows, values increase; yet, it doesn’t mean that maximum prices of sale are ensured. One should always have something more to offer for his purchasers and business in order to succeed in his sale.
When you set prior plans for sales, you will solve several issues that you may face during your path. Just try to do the following in order to get started:
1. Make sure you know who your potential buyers are. In order to plan for you company’s sales, you should identify your buyers. This will help you recognize all the issues or obstacles that you may face. Be aware that the buyers might be partners in business, major employees, family members, investors or capitalists.
When you identify potential buyers, you should realize the ways of payments adopted by these buyers. When you plan in advance, you will have more options for sales.
2. Don’t worry much about the real value of sales, just focus on required steps to sell your products with the highest price possible. Therefore, you need to examine procedures of auditing and accounting, arrange reward plans for employees to preserve the major ones, review the structure of your retirement plans as well as overdue agreements.
It is important to keep everything clean in order to support judgments for your business. It is also essential to bring an auditing firm to help you sort whatever financial issues you face before you start dealing with buyers.
You should also know that encouraging employees and supporting them financially will make buyers more interested than to know that employees are not simply leaving your company.
3. Be determinant and motivated enough in order to sell a successful small business. You should know that your participation as an owner affects the performance of your company. You should therefore work on finding and cultivating new major employees in your company, execute crucial operations to solve the issues of customers, create guides, catalogues and user manuals and organize teams that will make you limit the need for your interference. When you become easier to have a replacement from time to time, you business is considered more valuable. Try to figure out when it is important for you to be present and when you should be away from all the issues that can be solved by your key employees.