If you’ve been following our series on selling your business this month, including our kickoff column, “Is it Time to Sell Your IT Services Business?” and our infographic, “9 Steps To Selling Your Business,” you already know that valuations in any industry tend to fall into a range.
The goal for any business owner selling his or her business should be to sell at the high end of that range.
However, some factors that impact the value of your business are not in your control. That’s because they can vary with the needs of the buyer.
Literally, beauty, or in this case, value, is in the eyes of the beholder.
Maybe your company is not geographically positioned advantageously to meet the scope and scale requirements of the buyer.
Maybe the buyer will acquire your direct competitor instead of your company. Or maybe you don’t have proprietary business processes or technologies that can drive premium value. Or you don’t have a big brand in your space.
These are a few in a long list of factors often associated with premium valuation for the right buyer.
The good news is there are universal moves you can take to increase the value of your company regardless of (or in addition to) these factors.
Here are six concrete steps you can take to attract a buyer and get more money when you sell.