When she received the call, she didn’t initially believe it. She certainly didn’t believe them. In fact, she was only half listening. As the conversation
continued, however, she was more interested. They asked her good – no great questions and genuinely were interested in meeting her. She decided to take a chance and agreed.
The first meeting was at a neutral place. She didn’t want to raise any suspicions. It was a restaurant that would allow for a free flow discussion.
The discussion and the meeting had one objective. Someone wanted to buy her company. They were interested. They were serious. Their initial ball park offer was surprisingly generous.
So how did her business arrive at this junction to be able to receive a serious and lucrative offer?
To get to this place it started over a year ago. When she joined Results-Driven her intention was twofold. First, to help make her company more efficient and increase profits; and second, to get it ready to sell.
To achieve both goals we laid out a plan. Our plan focused on a number of key areas. First, we examined every area of her business to make improvements. We went step-by-step from the initial inquiry, to order fulfillment to payment received. There were numerous areas where the customer experience was weak. We fixed those.
Next we tackled the client database. We discovered it had a lot of old and outdated information. We then began a simple process called data mining. Our objective was to mine the customers for two reasons: look for opportunities, and determine how to deepen key client relationships.
As we began these processes and adopted these new procedures, the magic began to happen. Client relationships were enhanced significantly. Inefficiency’s were identified and corrected. Morale increased as did revenue and profits.
But you may be saying to yourself, the above information is helpful, but how did the buyer find our client?
The buyer wanted to expand their business into this new market, and when they asked around for well run companies with a good reputation, our clients business kept on coming up time and again.
So what happened? Did they sell? Yes – they did, and for a lucrative and well deserved price.
Selling your business or any business isn’t easy. It takes a vision, a plan and strategy to achieve this goal. The rewards, however, can be worth it.
If your goal is to someday sell your business, what do you need to fix to get a serious and also lucrative offer?