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10 Tips to Building a Successful and Sellable Service Business

10 Tips to Building a Successful and Sellable Service Business

Build your business from the ground up like you're planning to sell it and you'll make better longterm decisions, develop better processes, and be more likely to not try to do everything yourself (nobody wants to buy a job). Chances are, these same things that make your business more sellable will also help you be better positioned to work with who you want, doing what you want, at the prices you deserve, so you'll get more out of the business while you own it – not just financially, but personally as well.

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Will a tech gap be your retirement trap? Improve the chances of selling your business

Will a tech gap be your retirement trap? Improve the chances of selling your business

Did you know that around 2/3 of small businesses never sell and are closed down when the owner retires?

And of those that do sell, the average sales price is about 1/2 of what the owner thinks it's worth?

Add to that the fact that most business owners have the vast majority of their financial assets tied up in their businesses, and the prospects for the average owner to ever retire comfortably are slim.

According to Christopher M. Snider, President and CEO of the Exit Planning Institute (EPI), 85-90% of the net worth of the average business owner is tied up in their business, yet "57% of respondents to their survey stated that lifestyle is not dependent on transfer of ownership of the business." That's called denial.

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What is brand positioning and why is it so important?

What is brand positioning and why is it so important?

Positioning your brand well creates a path to success that is shorter and easier. It helps your customers know they should select you.

[Bonus at end of post - Get this post in a PDF.]

Think about this: if a prospect is comparing your product with a competitor's, what is there about yours that would make them choose it? If there's nothing to differentiate the two, you have a commodity that people will only choose based on price, and that's the last thing you want. Or, even worse, what if your prospects think something about your company or product that isn't true?

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