Reading about the University of Washington’s big victory over rival Washington State I noticed the following from UW defensive coordinator Pete Kwiatowski, “When you beat the guy across from you, it’s a simple game.”
It always comes down to doing the basics. As I’ve told my clients for years (and mention in my book, Buying A Business That Makes You Rich) when you do the things you’re supposed to do, good things happen.
For business buyers, this includes implementing a comprehensive search system, building a relationship with the owner/seller, realizing the vast majority of sellers care about their employees and legacy, and recognize you want to pay a fair price for a great business.
For business sellers, the number one overriding “simple thing” is making sure your business is ready for the buyer’s in-depth analysis. My top four things are – show growth, reduce dependencies (especially on the owner), have solid financial systems and accurate financial statements, and demonstrate how you attract and retain great employees.
And for increasing sales, whether you’re an advisor, banker, business owner, or employee, it comes down to constantly and consistently getting the word out about the value you provide. You may set a goal of increasing revenue by 18% but if you don’t market, make telephone calls, or see people how the heck will you achieve your goal?