July 3, 2018
DOES YOUR BUSINESS HAVE CURB APPEAL?
Does your business have curb appeal or is it a fixer upper!?
By that I mean at first glance does your business appear to be an above average business. Qualified buyers are looking for few but profitable households; up to date CRM; clearly defined business model; etc. indicates a low transition risk and therefore a higher valuation. Often you are better off selling less profitable parts of your business to one and the profitable to another. Sub divide!!
You should be considering these issues whether you have 30 years left in the business or 3 months. Long term you need to concentrate on growth and refining your processes. If your business is cluttered with un profitable segments you don’t have time to grow.
- Is the SUM OF THE PARTS OF YOUR BUSINESS worth less than the business whole?
- Do you have “products” on your product shelf that you do not specialize and do not contract out?
- Do you specialize in financial planning for individuals but have some group insurance clients you keep because you deal with the owners?
- Do you have “orphan files” of old insurance clients you are not seeing regularly and are accumulating risk to be sued?
- Do you have 200 households with assets of $50 million but 100 have $40 million and 100 have $10 million?
- Do you want to Exit in 10 years or less?
- Do you want 3.5 – 4.5 times recurring revenue and are prepared to “adjust” your business model?
IF YOU ANSWERED YES TO ANY OF THE ABOVE AND WOULD LIKE TO EITHER GROW YOUR BUSINESS OR PUT SOME MONEY IN YOUR POCKET- EMAIL INFO@QUEENSTON.NET.
Check out our white paper “9 WAYS TO INCREASE THE VALUE OF YOUR BUSINESS” – CLICK HERE
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