Today more than ever, we have buyers looking for large, absentee and semi-absentee
businesses. With regard to small business owners, however, how can you stand out and
make your business more desirable to today’s buyer?
As a business owner, are you performing many of the menial tasks that could be delegated to
an employee? Over the years, we have found that buyers are more attracted to organized
businesses with systematized delegation strategies in place. Responsibilities that don’t
require the seller’s specific skills can be reliably delegated to employees; thus, the business
owner doesn’t attempt to do everything themselves.
Another important feature that buyers are looking for is a well-documented
business operational system. Do you have an organizational chart that lists
employees and their roles? Do you have each role defined and the
process/tasks that each employee performs documented? Employee
manuals help buyers feel a lot more comfortable. Imagine being a buyer and
feeling fully dependent on the seller’s employees, apprehensively wondering
at the outcome of the business if one of them leaves. However, if you’re
capable of saying, as the business seller, “I have employee tasks defined
and a manual on how each task is performed,” imagine how much better this
message will resonate with a buyer.Buyers can relax with the knowledge
that performing needed tasks or training someone new will be a lot less time
consuming and worrisome. If you don’t have the business operations
documented, there is no time like the present to get started.
Buyers will be more interested in your business if they are able to spend more time working
ON the business instead of working IN the business.
If you’re a business owner who is considering selling your business, consider either delegating
more of your tasks to your employees, or try to hire an employee who can relieve you of
those unskilled, menial tasks. Not only will this help you in the present, it will likely also help you
sell your business for the highest price possible, because your business will be more
desirable as a result.
Murphy Business Sales Business Broker Boston MA area Vince Murphy Murphy business broker can discuss experiences that might make
your business more saleable. MURPHY BUSINESS SALES