3 ways to make your business attractive to potential buyers
From CEOs who set out from day 1 to sell their marketable idea to SMEs who are struggling to stay afloat and need investment, there is a range of reasons as to why you may be considering selling your business. However, with more and more people pursuing their passion to start a business and being given the necessary tools to do so, there is no doubt that the world of company acquisition is a saturated market. So, what can you do to stand out from the pack and drive your company acquisition potential? Here are strategies that we recommend to ensure your business is attractive to potential buyers.
Maximize your customer base
One of the simplest, albeit one of the most difficult, ways to increase your revenue is to maximize your customer base. Take a look at your current marketing techniques. Are you utilizing every tool at your disposal to reach the widest customer base and ensure the best customer return rate? If not, then this should be something to invest some time and money into. Are you harnessing the power of intent SEO? Or do you even understand it?
To put it simply, intent SEO refers to the specific words that potential customers will use when searching for a product or service and the intention behind the search itself. For example, somebody looking to purchase a specific type of plant for their garden during the summer may search for “best places to buy x plant seeds”, whereas someone looking to research what exactly are the best plants to grow during summer would search for “best plants to grow during summer”. Understanding the impact of sending each type of customer to the relevant pages of your website, whether that is your product page for the former or your blog pages for the latter, and utilizing this ability is guaranteed to drive traffic to your site. The result? You’ll multiply your revenue and drive company acquisition.
Define and celebrate your USP
Your USP, or Unique Selling Point, is what makes you different from your competitors. It is what you rely on to market your brand and products to potential customers, and this is no different when it comes to those who may be interested in purchasing your company. It is a saturated market, and buyers are not interested in companies that do not provide a long-term return on their investment. Therefore, you need to know exactly what it is about your business model that not only makes it stand above the rest, but also instills confidence that it has the potential for this much-desired return.
Increase your revenue
This strategy may seem obvious to many, but it is not uncommon to get caught up in the initial five-year plan for your business and become enthralled in its potential while neglecting its current, real-world value. Potential buyers do want to know that your business has the room to grow, but they are also going to be interested in its performance today. You need to ensure that your current model is profitable, so that a buyer knows that their investment provides an immediate return, as well as the long-term return.
Think about your products and the manufacturing process behind them. Could this be optimized? Are there any avenues for potential profit that you haven’t explored yet? Are there any unnecessary overheads that you can cut? Asking these questions and boosting your revenue as high as possible could be the difference between a failed sales attempt and a successful one.