One of the most critical steps in preparing your business for a potential sale is focusing on your company’s growth potential. Buyers are not interested in buying a company with flat or declining revenues.
When Reviewing Your Revenues, Ask Yourself the Following:
How to Increase Growth Potential
Listen to Your Customers
Research your customers’ pain points and find new ways to help them overcome those. You can even ask your customers about this directly and act upon opportunities to improve based on their feedback.
Conduct a Competitor SWOT Analysis
A SWOT analysis is a technique used to identify strengths, weaknesses, opportunities, and threats. Ideally, you should be conducting a SWOT analysis of your business every six months, or at least annually.
In addition, you should also be conducting regular SWOT analyses on your competitors. A competitive SWOT analysis helps you gain more insight on where you need to improve, capitalize on your competitors’ weaknesses, and more.
Think About How Your Product or Service Can Evolve
To stay competitive, you must continuously evolve and adapt to our ever-changing world. The more you continue to improve your products or services according to your business goals, the more your company can thrive and grow. What’s more appealing to potential buyers than a flourishing business?
Focusing on your growth potential and learning how to increase it is vital to enhance your company’s value at any stage. ACT Capital Advisors has been working with businesses in various industries since 1986, developing strategic plans before they go to market to ensure they get the best value possible.
If you are interested in learning more about ACT’s sell-side services, use the following links: