When company owners build their business, they often do so with the vision of being acquired by a large corporation. While having your concepts come to being is incredibly rewarding; selling your company is the way you might like to cash in on all your hard work, while also, giving your business another life.
When considering selling, staffing owners should remember a few things:
- Exceptional executives are a key factor to potential acquirers. Keep your internal talent pool happy and motivated as they will be a major component of your success during negotiations.
- Accurate numbers indicate you have a well-run business. Performing due diligence before placing your company on the market will help any potential deal run smoothly.
- Annual growth rates are telling of revenue projections, and make certain that your company is projecting towards an incline. This ultimately determines the value of your company.
- Mergers can give buyers a wider market share without having to do all the work themselves, this gives both companies wider distribution, reach and market share.
- Staffing firms with advanced processes and proprietary technology speak of its capacity for innovation. This shows acquirers your company’s competitive edge.
Even if you aren’t looking to sell your staffing firm right now, try to keep all these areas in tip-top shape. You never know when an opportunity to sell might present itself.
To read the full article written on SIA’s The Staffing Stream, click here