When you are ready to take that next step in life and sell your business, keep in mind that several different factors go into determining the value of a business when it goes to market. Because there is so much more involved than simple checks and balances, even the most successful companies can fall short when the valuation results come in. Before you find yourself in a situation like this, know that you don’t have to settle for less. Here are some steps that can be taken to boost your business’ worth.

Set yourself apart and stand out
When you know that your business is being compared to others, being unique can make all of the difference. Consumers are drawn to distinction when evaluating companies to do business with. They compare products, services, customer support, and several other aspects. An established public interest shines a light on your business and gives potential buyers greater incentive. With that in mind, they’re going to look for companies capable of holding their own in their niche, and why not? That’s precisely why they are looking to buy an established business instead of building one from scratch.

Today’s business landscape revels in competition from most industries, so even the smallest detail could be the one that launches your company to the top for consideration. Any aspect that sets you apart from others in your field contributes to success, but it’s equally critical to drawing buyers’ attention.
 
Benchmark your company against others by researching and examining your top competitors. You want to gain a better understanding of their weaknesses and compare them to your own. Play on your strengths and work to improve upon your shortcomings to enhance your status in your industry. Purchasing prospects are likely doing the same thing with the companies they are considering, and they are sure to take notice. The result should be a response with more lucrative offers.

Document and streamline operations
When was the last time you documented your current processes? Efficient businesses are usually the most productive ones, and that productivity leads to higher profits. Take the time to do a deep dive on the internal operations of your company. As you do so, evaluate all details from every possible angle.
 
Whether you do this on your own or turn to a professional for help, the ultimate goal here is to find areas of struggle and identify pain points. However, bringing in an efficiency expert could bring in an unbiased perspective and work wonders in this exercise. The final result is to develop and implement new practices to make things flow more smoothly.
 
By reducing waste and boosting productivity, revenue elevates while the cost of operation is reduced, all without sacrificing quality. Higher earning potential and lowered cost of operations are very attractive to potential buyers.

Maintain your workforce
Providing your prospective buyers with a highly skilled and productive crew to work with provides a great deal of stability and assurance. Fully trained and qualified employees hold a great deal of value. Regardless of rank and tenure, they are the backbone of any company. Having to train an entirely new team leads to losses in productivity and increased costs for pending business owners, so don’t send your employees packing if you’re planning to sell your business. Instead, groom them to be more confident and independent.

Delegate and step aside
If you’re like many business owners, you are a highly engaged participant in your business. While that is an admirable quality to be so involved with every aspect of the company, it could show as a red flag in the eyes of your prospects. They may have concerns on whether or not the business would run as smoothly without your involvement. In reality, your business, processes, and crew should be able to keep the business humming on their own.
 
Be sure everyone in the company is well-versed in specific procedures and processes. Since you just evaluated and improved your processes, it’s the perfect time to hand over the reins. Pass your knowledge and experience on to a qualified employee to oversee the business in your absence as the new owner gets acclimated.
 
Continue to be involved in the company right up until it’s signed over to a new owner, but make sure it can run smoothly without your help as well. Seeing the business is capable of retaining its strength in your absence is a significant confidence boost for prospective buyers. You may even get higher offers once they realize and appreciate the anticipated ease of transition.

Keep growing
An excellent selling detail is a highly recognized brand. Now is the time to ramp up your marketing, sharpen your sales team, and demonstrate a solid plan for growth. Buyers pay more for growing and flourishing businesses and will look for a bargain on those that are stagnant. Now is the time to make your business look the best it’s ever looked.
 
Loyal, repeat customers are critical to all businesses regardless of size or industry, but having a steady stream of new ones is also essential. Demonstrating a balance between the two ensures consistent cash flow. Targeting new prospects is the key to generating fresh clientele, so continue ramping up your marketing efforts to boost potential buyers’ interest as well as your company’s market value.
 
Continue to invest in your business, even though it may seem counterproductive. In reality, there is nothing further from the truth, for you want to keep your company alive and thriving.
 
Keep updating equipment, improving manufacturing processes, developing new products and services, and carrying out other upgrades just as you would under normal circumstances. Continue funneling funds into new marketing campaigns and SEO strategies as well. Remember that a flourishing company gets a higher offer, and a stagnant company comes at a higher discount.

Final thoughts
Even though you are ready to slow down and stop, keep in mind that your business is not, so keep that momentum to gain the highest return. Set yourself apart from others in your niche both on the surface and through underlying aspects. Increase efficiency in every way possible to improve productivity and profitability. Prepare your business to operate without your involvement. Cultivate relationships with customers and prospects in every level of your sales funnel. Don’t stop your forward momentum. Renovate the company itself rather than its workforce. 
Narrow down the value – call a specialist – call Transworld!Contact us at Transworld Business Advisors by scheduling a consultation to start the valuation of your business. You worked hard to build your business. You owe it to yourself to engage a renowned expert to represent you for an enriching experience and the best offers through our network of experts.

When people think of the health and wellness industry, they think it is predominantly dominated by women.  Here at LaVida Massage, it is actually a 60-40 (women to men) split. We encourage all genders to take an interest in their self-care. Don’t let the stigma scare you away from getting your father a LaVida Massage gift card.

It can be hard to shop for dad! Does he already have every tool set? Does he already have a dark blue tie? Instead of a materialist gift, give him an experience this year. If it is your dad’s first time experience massage therapy, he will love it! Even if its not his first time, he will still love it! Each massage is a little bit different. This year, say thank you with a gift from LaVida Massage.

Every dad works hard in their own way and there is no better gift than the gift of relaxation and recovery. Whether your father works a blue collar job, white collar job, or just needs a break from life, a massage is the best way to show you care about him and his health. If your dad is all about physical activity, the sports massage could be the right fit. If your dad suffers from back pain, a Swedish or Deep Tissue can help him get rid of the problems that bother him. At all LaVida Massage locations, we offer custom full body massages. This means whatever your father needs, we can tailor a massage to him. As they say, no two dads are exactly the same.

For more information on the different massage services that are offered at your local LaVida Massage, go to lavidamassage.com to find the location nearest to you. Each location offers different types of massage services and products, but the best way to see what LaVida can do for your father is to come in and talk with one of our Sales Associates!

You’ve put your heart and soul into your business to get where you are today. You are ready to close the book on this chapter of your life and start something new, be it a new venture or enjoy a well-deserved slower pace.  The first task is deciding what your exit will look like, and then you can make preparations for that transition.
For those whose business is just beginning or gaining ground, the idea of planning an exit strategy just sounds so negative! But as you ponder that, I remind you of the wise words of Stephen Covey: “Begin with the end in mind.” So begin your business with a clear vision of your desired destination or end, and continue proactively to make it happen.

Think of it this way. Planning an exit strategy need not be impending doom, but instead a plan on how to optimize a good situation instead of the narrow thought of eventually getting out of a bad one. When you think ahead about a graceful exit, you can run your startup while focusing on things that make your business attractive and compelling to potential buyers.

Start with intentions: cash cow or legacy?Let’s start with the initial intentions of your business because not everyone starts with the same purposes. 
Some entrepreneurs start a business as a means to make a good living for their family and build personal wealth. As a bonus, they enjoy their work, which is what inspired their business in the first place. Wasn’t that the original American dream? These business owners don’t think beyond their own needs, for their ambition is focused narrowly on personal goals.

On the other hand, another driven business owner may have a broader vision of their company growing beyond their wildest dreams, enriching many along the way. They start small to test their idea, and as interest and success take off, they will engage in phases 2, 3, and 4, which may introduce new products or services. They may take another path to expand and spread their innovations to more locations. Whichever the case, this entrepreneur is building a legacy empire!

Both concepts are very different, and neither is incorrect. Imagine, though, how different an exit strategy might look for either of them.

Option: sell to a friendly individualThis option is most attractive to the family business owner. They are ready to transition out but would love to see someone else enjoy the community relationships and stable income that they spent their lives fostering.  The friendly individual may be a family member or another person interested in purchasing a business with an already established strong reputation. This ideal buyer has the skills and operational knowledge to be successful.
As the seller, you would have your processes well documented, and vendor connections listed for them pick up where you left off. You may negotiate to stay behind for a defined period to walk the buyer through the standard operations and ensure a level of comfort before you make you exit.

Option: merger and acquisition (M&A)If you can’t beat them – buy them. Larger companies find great value in acquiring smaller and successful competing companies and adding their branding. This practice enables them to maintain a loyal customer base and enhance the product and service offering. This type of deal is a win-win situation for both parties. To the business owner (seller), the transition is as fast as a few signatures and handing over the keys. To the acquiring company (buyer), merging is an efficient way to grow their revenue quickly instead of developing a new market organically.
Click here to find out more about qualifies a business to be an M&A transaction.
Option: make it a cash cowThis particular option often requires all of the planets to align to be possible, but worth considering it happens in your favor.

• Business is in a stable and secure market
• Company has a steady revenue stream
• You have someone that you trust to run it all for you
  

If you are lucky enough to have this as an option, retain ownership, pay off any remaining investors, and enjoy the residual income. Just keep a nest egg aside because even a cash cow needs the occasional feeding of hay, and keep an alternative exit strategy in case of any of those three planets become misaligned and you’re ready to make your absence permanent.

Option: initial public offering (IPO)Going public is exciting and takes a tremendous amount of effort, but can really be a road to riches. This idea would be an option to the entrepreneur dreaming of growing that legacy empire, but it is not for the typical startup in the early years. Between shareholder demands and liability concerns, this will be a very calculated and orchestrated event that could take years to bring to fruition after proven long-term success as a startup company.

Option: tap out and liquidateThis option isn’t usually a planned strategy from the beginning, but a reality when all else fails and the business owner is ready to make their exit. There are companies that will buy your company for space and equipment to open a different company using some or all of the material for new purposes. Other companies will buy everything and liquidate it all, piece by piece to get a higher return. Either of these methods is a means for the business owner to cash out and make their exit.

Not sure? get an expert involvedTo make sure you fully understand the options of getting you the best return for the sale of your company, contact the experts at TransWorld before you make any decisions. They will complete a valuation of your business and provide you a realistic expectation based on the most current analysis of the local and national market. Our professionals will work aggressively on your behalf through the selling process, maintaining your anonymity until your business strikes the interest of a serious and qualified prospect that is ready to personally meet with you and discuss the attributes and accomplishment of your company. Click here to learn more about our entire sales process, and let’s get started!

Water, the most important liquid on the planet, makes up roughly 60% of the human body. That is why it is so important to stay hydrated. While there is no “real” recommended amount of water you should drink a day, most doctors agree that you should try and consume 8-10, eight ounce cups (64-80 fl oz) of water each day. The health benefits of drinking water are numerous and some are even surprising. Here are some amazing benefits of drinking water:

• Keeps your skin hydrated. Your skin is mostly made of water. When dehydrated, it can lead to disorders and wrinkles. Drinking water is the easiest and cheapest way to stay looking young!
• Lubricates your joints. Cartilage contains 80% water. Dehydration lessens the effectiveness cartilage has on joints and, in turn, leads to pain and inflammation.
• Aids in weight loss. Water is the perfect zero calorie drink to replace soda or other sugary drinks. Also, drinking a big glass of water before a meal will help prevent overeating.
• Promotes healthy kidneys. Your kidneys are primarily used to filter liquids that come through your body. When dehydrated, kidney stones can start to form and, in extreme cases, dehydration can lead to kidney failure.
• Relieves allergies. When your body is dehydrated, its airway is constrict. This will heighten breathing difficulties brought on by allergies or asthma.
• Helps with healthy digestion. The digestive system is reliant on water to process food correctly. Dehydration can lead to digestive problems, constipation, and heartburn.

Water is so important to our everyday lives that we should be making a concerted effort to drink the recommended amount . According to the Institute of Medicine, in 2013 almost 75% of Americans suffer from chronic dehydration. Don’t become a statistic and make sure to get at least 64 fluid ounces of water each day. There are plenty of ways to make sure you get your water each day. Try remembering to drink a glass of water after every bathroom break or using one of the numerous water tracking apps. If those require more effort than you want to put in, just having a water bottle nearby will help with hydration!