Further to my post of yesterday, lets explore the first of the elements to gaining a more favourable “Sellability Score” i.e. a more saleable asset. That is, “operating in a growth industry by being in the “right place at right time”.
It goes without saying that you want your business to be in a growth industry! But what if it’s not?
Maybe it was when you started but the market has since shifted the goal posts. As unfair as that is, it happens. So what do you do?
Find the growth in the industry you know and rework your business accordingly, in the quickest possible time frame…
If you want an asset that someone else can see themselves running into the future, sitting at the helm, then you really have no choice. Actually you do and that is to sell it for what the market values it at today, with the perception being that there is no real potential. By doing so, you’re then relying on finding a buyer who knows how they will use it and turn it around, but they won’t of course pay you a premium for that privilege.
For example, some will say that the print industry is in decline. And for the same some, they may be right. But printing is still being done isn’t it? So who needs it done and what do they need done regularly? Answer these questions and your reworked business model starts to take shape, doesn’t it?
Still not sure how to broach this? Google it!
Let your fingers do the researching and find out what’s happening.
Talk to your colleagues.
There will be something you can do that not many others are able to do and more often then not, that is relationship based. What relationships have you built over the time that have relied in you in the past, enabling it to be easier to rely on you in the future. Want to know what they want? ASK them.
Yes, the human factor strikes again!
Maybe there’s something you can buy that will catapult your business out of its obscurity and right into current operating procedures. You just need to know what you’re looking for and how you’re going to fund it.
Shake your findings together, give them a good stir and see what wonderful cocktail you can come up with your the future of your business. You might just surprise yourself..