Jennifer was devastated. “What do you mean, my business did not sell?” She had put 20 years into developing the best building construction business around. Everyone knew who she was as her name was in every advertisement, building-site sign, and business-league bulletin.
But, perhaps that was the problem. Whether doing a lot of business or a little, the business not clearly identifiable as being able to stand without the owner may have challenges in trying to sell.
These are a few tips to help you to avoid Jennifer’s dilemma.
Ensure clients recognize the company, not just the individual
- Include staff in projects as part of the client experience. Turn things over to them when they are ready to succeed.
- Have at least one manager of high quality, one who can substitute for you.
- Relinquish responsibility to well-trained staff and contractors.
Product / service strength and longevity
- Keep up with industry changes and demonstrate innovation in your industry.
- Have some products and services, perhaps associated with your brand, with three or more years of proven performance.
- Demonstrate that core products / services clearly contribute
- Have ancillary products / services that generate income from same clients
Contact me for more strategies to help small and solo-business entrepreneurs.
