First Impressions Count – Business Tips

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First Impressions Count Business Tips

• BY
• http//benchmarkbusiness.com.au/

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First Impressions Count Always! Weve all heard
that expression First Impressions Count well
its no different when selling your business. As
a professional business broker I cannot stress
enough to my clients the importance about you
can only sell your business once. To optimise the
opportunity of selling your business and
achieving the best possible outcome, there are
certain things that need to happen and are the
responsibility of the business owner,
seller/vendor. Besides all the other information
supplied to a broker prior to going to the
market, for example financials, tax returns, BAS
statements, lease agreements, plant equipment
and so on there are other important issues to
attend to that will help achieve that maximum
outcome.
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• What else can I do? Below are a few Business
  Tips
• Present a clean tidy workplace.
• Have all equipment working properly and service
  history (if applicable).
• All staff uniforms in good order and worn
  correctly.
• Freshly painted walls and doors.
• Making sure that private and confidential
  information is hidden from the buyers view.
• Allowing the Buyer to feel that you are not
  hiding anything from them. Let them look at
  everything. Especially the areas that cannot be
  seen from the customers or clients
  point-of-view.
• Clean all windows in the premises (as if you were
  selling a house)   its no different.
• Mow all the lawns, remove weeds and clean gardens
  and garden beds (if applicable)
• Welcome the Buyer as you would welcome a friend.
• What will a buyer see as they walk in and through
  the business? See it from their point-of-view
  see it through buyers eyes.
• Dont apologies for something not being right.
  Fix it!, and then you dont need to make any
  excuses.

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• If you have a website, make sure that is up and
  running.
• Having a business plan that can be shown to a new
  owner and their accountant remember, its not
  just the buyer that needs to be sold, its their
  advisors as well.
• Providing Standard Operating Policies and
  Procedures to the new owner.
• Providing an Operating Manual to the new owner.
• Present Business plans, cash flows and
  projections.
• There should be no ums! or ahs as answers! Just
  straight forward honest answers.
• By adopting these helpful business tips, engaging
  a pro-active broker and presenting all the
  information correctly, then you will not only
  realise a premium for your business but you can
  sell knowing you have handed over a business to a
  new owner that you were proud of.
• Ian SalterREIQ Business Broker of the Year 2016
  2015AIBB member

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