I was speaking with my sister-in-law Alison over the weekend, and we were discussing buying/selling houses, renovating, and how much work, in general, houses can be. She was reminiscing about her first house, a cozy Cape that they bought in rough shape an put so much sweat equity into. It was a labor of love for almost 10 years. When it came time to sell, they decided to invest some money into upgrades on the house in order to maximize their return. They completely redid the bathrooms, added new counters and a new floor in the kitchen, and when completed, it looked like a new house inside! They had no problem selling, but Alison made a comment to the effect of, "I wish we had done it earlier so we could have enjoyed it for a while."
Drawing an analogy to Alison's story, what if Alison's house was a business? More specifically, what if the business was one that the owner was looking to sell? Thinking back to my article entitled Is Your Marketing Strategy Hindering Your Exit Strategy?, you can't just take a marketing and sales strategy, implement it right before the sale, and voila! Increased value. Unfortunately, it doesn't work that way, so why not set yourself up to enjoy it for a while?
Over the past several months, I've spoken to quite a few business owners that are looking to sell their business. Some of them want to sell so they can retire, and some of them would like to be acquired. It doesn't matter if you have been in business for decades or you are an early stage start-up with a great idea, the notion is the same, more growth = more value. Easier said than done, I know, but the owners who have signed on as clients have all had similar issues. Their Inbound Marketing Assessments revealed that their websites were well outdated and their general marketing was not happening, or happening without being tracked or working towards a goal. Marketing for marketing sake is not a good plan, and as a result, they were not growing at a desired pace.
So what made them change? Wanting to grow their business in 2015 more than in 2014 is a pretty good incentive to change, and incentive to change is required to achieve success. After all, Einstein said it best: "We cannot solve our problems with the same thinking we used when we created them." If what you are doing is working, keep on truckin'! If it's not, and you are ready to change, but not sure where to start, try here-