{"id":560986,"date":"2019-11-16T03:00:58","date_gmt":"2019-11-16T08:00:58","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbgreenbay\/key-mistakes-that-could-impact-your-sale\/"},"modified":"2022-01-31T12:41:54","modified_gmt":"2022-01-31T17:41:54","slug":"key-mistakes-that-could-impact-your-sale","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/key-mistakes-that-could-impact-your-sale\/","title":{"rendered":"Key Mistakes that Could Impact Your Sale"},"content":{"rendered":"
\"\"<\/p>\n

The old saying, \u201can ounce of prevention is worth a pound of cure,\u201d most definitely applies to any business owner that believes he or she will someday want to sell his or her business.\u00a0 The bottom line is that every business owner has to transition out of ownership at some point.\u00a0 In a recent Inc. article, \u201c<\/span>Four Mistakes That Could Lower Your Business\u2019s Value and Weaken Its Salability<\/span><\/a>,\u201d author Bob House explores 4 mistakes that could spell trouble for business owners looking to sell.<\/span><\/p>\n

No doubt House explores some excellent points in his article, such as that you should always have what he calls, \u201ca selling mindset.\u201d\u00a0 The reason this mindset is potentially invaluable for a business owner is that when operating in this way, sellers are essentially forced to stay on their toes.\u00a0<\/span><\/p>\n

Or as House writes, \u201ca selling mindset encourages continual innovation, growth, and investment, helping your business stay ahead of the competition and at the top of its potential.\u201d\u00a0 Having a \u201cselling mindset\u201d means that business owners have no choice but to perform periodic reality checks and access the strengths and weaknesses of their businesses.<\/span><\/p>\n

Mistake #1 Poor Record Keeping<\/b><\/p>\n

For House, poor record-keeping tops the list of big mistakes that business owners need to address.\u00a0 As House points out, both potential buyers and brokers will want to examine your books for the last few years.\u00a0 The odds are excellent that before anyone buys your business, they will look very closely at every aspect of your financials, ranging from your sales history to your operating costs.\u00a0<\/span><\/p>\n

Mistake #2 Failure to Innovate<\/b><\/p>\n

The next potential mistake that business owners need to avoid is a failure to innovate.\u00a0 House notes that a lack of tech-savviness could make your business less attractive to prospective buyers.\u00a0 The simple fact is that virtually every business is now impacted in some way by its online presence, whether it is the quality of that presence or lack of it altogether.\u00a0<\/span><\/p>\n

For House, a failure to maintain an active online presence could be associated with a failure to innovate.\u00a0 Even if your company is innovative, if you do not maintain a coherent and robust online presence, this could portray your company in a negative light.<\/span><\/p>\n

Mistake #3 Unstable Workforce<\/b><\/p>\n

House also feels that having an unstable workforce could spell trouble for your business\u2019s value and negatively impact its salability.\u00a0 Most prospective buyers will not be very eager to buy a business that they know has a lot of employee turnover.\u00a0 In general, new business owners crave stability.\u00a0 Attracting and keeping great employees could make all the difference when it comes time to sell your business.<\/span><\/p>\n

Mistake #4 Delayed Investments<\/b><\/p>\n

The final factor that House notes as a potential issue for those looking to sell their business is delaying investments and improvements.\u00a0 House states that it is important for owners to continue to invest even if they know they are going to sell.\u00a0 Investing in your business can help it expand, grow and showcase its potential future growth.<\/span><\/p>\n

Another excellent way to prevent making mistakes that could interfere with your ability to sell your business is to begin working with a business broker.\u00a0 A top-notch broker knows what mistakes you should avoid.\u00a0 This experience will not only save you countless headaches but also help you preserve the value of your business.<\/span><\/p>\n

Copyright: Business Brokerage Press, Inc.<\/a><\/p>\n

World Image\/BigStock.com<\/a><\/p>\n

The post Key Mistakes that Could Impact Your Sale<\/a> appeared first on Deal Studio – Automate, accelerate and elevate your deal making<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The old saying, \u201can ounce of prevention is worth a pound of cure,\u201d most definitely applies to any business owner that believes he or she will someday want to sell his or her business.\u00a0 The bottom line is that every business owner has to transition out of ownership at some point.\u00a0 In a recent Inc. […]<\/p>\n","protected":false},"author":2,"featured_media":560988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,8,2],"tags":[],"class_list":["post-560986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller-articles","category-seller-faq","category-selling-a-business"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/560986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/comments?post=560986"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/560986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media\/560988"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media?parent=560986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/categories?post=560986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/tags?post=560986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}