Make Your Business One That Will Last for Generations
Whether you are building your business to sell some day or to pass down to your family after you retire, you want to build it in a way that makes someone else want to buy it! Even if you plan to leave it to your family, make it something your kids want to buy because it works!
Here are 8 tips to make your business incredibly attractive:
- Systemize it! If you haven’t read “The e-Myth-Revisited”, you must! This quick book will introduce you to the idea of systematizing your business.
- Track every prospective customer you encounter and take great notes. From the first day you meet your first prospect, save his or her information in a CRM System
- Keep in touch with your prospects and customers by offering value. Don’t just sell to your prospects and customers. Give them something of value. A tip, a trick, something to help.
- Pick a Customer Relationship Management System and use it religiously. In our business, we say “If it’s not in the CRM, it didn’t happen”.
- Learn as much as you can about the lead acquisition and selling process. Even if you’ve been doing it for years, you can never learn enough! There are many online tools and books available. We like The Conversion Code: Capture Internet Leads, Create Quality Appointments, Close More Sales by Chris Smith.
- Pay careful attention to search based marketing. Become and expert – or at least a novice web marketer. Some would claiim search based marketing is dying, but it’s just not true.
- Keep GAAP quality books and have a CPA review them at least quarterly. When you do want to share your financials with a prospective buyer or banker, you will be glad you did this.
- Find out what your customers want and deliver it to them The best way to grow is by delivering products that help your customers get their desires.
We hope you find these tips helpful!