Selling Your Business

sometime in the near or far future

The time will come when you will need to exit your business - either by selling it or turning it over to a family member or other party. We don't live forever - but more importantly, we want to sell to allow time to enjoy living or doing something different.

So when you make that exit, you want to get the best value possible. That can be achieved by following 3 key strategies:

1) Grow Your Market

The larger, and more diverse your market is, the more value your business will be. Businesses will strong sales, defined market segments, and positioned in a growing market will command a higher price. You need to show:

  • increasing sales trending up over a 3-5+ year trend
  • defined market segments
  • available products or services that target these defined segments
  • opportunity for expansion
  • tested marketing tools to reach the market

So how do you grow your market?
Yes, you can do with increased sales and advertising. But more importantly, you must also have product development (enhancements), market positioning, segmentation, distribution and channel management. It all starts with a high level review of your marketing objectives.

Link to our overview of this marketing model that can be developed for your business:

The download will outline the marketing process for success.

jump over to our marketing prep section


2) Adapt New Features

We are referring to technology and emerging ways to do business. Businesses that incorporate the latest technologies are mare valuable than businesses stuck in the past. Examples include:

  • have a robust e-commerce and informational site for online presence
  • using social media to build product and company brand
  • involved in social networks for business reference and referrals
  • using the latest technology for operations, delivery, sales, and management
  • adapting IoT (interent of things) where applicable
  • using technology to reduce costs and increase customer satisfaction and awareness

The type of technology and use will vary by business. Our best recommendation is to view our subject materials on technological use:



3) Get Your Financial House In Order

If you are a privately owned business, you are not under the financial scrutiny that publicly-owned operations must adhere to. So your financial records may be a bit creative. That makes it extremely difficult when you are looking to sell the operations.

It's best to get your finances in order, by:

  • following sound accounting principles regarding the financial statements
  • having CPA reviewed and prepared tax statements - for federal, state and local jurisdictions
  • using general ledge software for recording and analyzing
  • keeping expenses and revenues neatly tracked and itemized based on your market segments

Using smart financial systems and methods allow you to analyze your business for improvement and more importantly, present your operations AS IS to outside, interested parties.

view our financial prep module


Contact us

get a FREE consultation

Krayton M Davis
Executive Director, CFOne Business Advisory Services
Serving Richmond and Northern VA

or e-mail your inquiry to:


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