How to Grow Your Business with Exit in Mind

For small business owners, the question of growth is an important and time-intensive one. Developing a solid plan of action to make the business grow may not receive the amount of attention and consideration that it warrants, as day-to-day tasks often take priority. However, if your business plan includes a quick exit, growth should be at the forefront of all business activities.

Fortunately, it is possible to grow your business quickly, allowing you to focus on other aspects of running the business. The tips below have been selected to help you maximize business value with exit in mind.

 

Invest in your product

It may sound obvious, but it is absolutely necessary to put in the time, resources and effort to ensure that your company’s product is of top quality. In today’s world, consumers have hundreds of options to consider when making a purchase, so providing goods or services that a customer can rely on time and time again will help build brand loyalty. Remember that the earning opportunity in the future will help balance your investments in the long run.

Investors will want to see that your product is trusted, saleable, and has a good market share, so getting it right from the start can pay off when it comes time to sell.

 

Retargeting advertisements on social media

Advertising on social media is a great way to reach a large and engaged audience. However, simply sharing ads about your company or product does not necessarily equate to sales. Retargeting advertisements can serve a unique message – such as a promotion – to previous visitors of your website or people who have already viewed your company’s ads in the past. These types of ads encourage return-visits to your website and repeat purchases.

A repeat business market helps to grow the value of your business as it shows investors that the product or service does not have a finite lifecycle. It also demonstrates brand loyalty and business goodwill, an intangible asset that is always of interest to potential buyers.

 

Build a great team of employees

It takes much more than a great product and marketing to build a business. You also need internal growth and staff who are motivated to make the business succeed. It’s important to hire employees who are willing to align with your vision for the business and its values. These employees will be able to oversee a variety of tasks to enhance growth, while you can focus on your respective priorities. Additionally, you may be able to rely on your strongest employees to help refer trusted candidates for future roles within your company.

Even though you may be looking to sell the business in 5 years or less, a strong workforce will increase its value. It demonstrates to investors that the business can operate without you at the helm, and can be taken over by existing employees.

 

While there are many strategies to grow your business, the above methods are specifically useful for businesses who are growing with the intent to sell. Businesses that plan their exit early have a higher chance of a good sale value, so contact us at Transact Business Group to get started on planning your exit strategy today.