My wife wants a new car, so we’ve stopped in to a couple of dealerships. I’ve checked on things online and looked at financing. My wife has asked for testimonials and referrals from friends. Some things that were purchased in our household this week include plants and flowers for friends, treats for servers at restaurants, cosmetics, food, clothing. Then there are the bills for things we “purchased” long ago such as cell phone service, internet service, TV subscription, mortgage, electricity, natural gas, water. The list seems to be endless.
On the “sell” side, this week I’ve worked on due diligence as part of an Angel Investor organization looking at a company trying to raise funds. I attended a meeting of the organization to listen to five new pitches. I took with me to the meeting three others that are looking to raise funds for other investments. I watched the Dow Jones and S&P 500 indexes get to new heights as people bought and sold shares in really big companies, some with valuations of a trillion.
Every person and every company is constantly buying and selling. Often, we don’t take the time to understand what the buyer really wants. Do you know what you want when you buy something like a new pair of shoes? Do you know what your employer wants when the company is buying a new VP of marketing? Are you ready to sell yourself for that promotion? What’s important in buying a car? My wife wants safety items. As a Detroit native, I find myself still tied to buying American. We’re looking at a Ford, but my wife’s family worked at Chrysler and it’s hard for her to consider a different company, even though it was owned by Germans for a while and now by Italians. Buying criteria can be complicated.
If you want to know what is important in selling a business, start by taking this survey of just 18 questions. You’ll get a report immediately on how your company compares to similar companies. https://www.mycorevalue.com/domain/survey/discover
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Getting to SOLD: The Right Way to Exit Your Business SOMEDAY We’ll be talking about how to prepare years in advance to be able to get the most for all your hard work.