Having a solid business valuation before selling your online website is only one step in the process of being able to accomplish your goals. An experienced and knowledgeable website broker can tell you just how important it is to get an accurate website valuation prior to listing your company for sale. If you’re stuck on where to start, our business brokers can help you make a decision on how to move forward with your business sale.
You might have the perspective that your business is of high value but there are many different elements and factors that go into this process and having a business broker who can guide you through it and answer your questions while also providing room for improvement through various strategies and tactics can greatly increase the likelihood of success. There are three primary tips that can help you to get a more effective business valuation.
A formal business valuation can come up for purposes of litigation, tax concerns, or selling the company. While there is no one formula in line for valuing a business, there are several different measures that can help give you a better perspective on a company’s overall worth. The first step is to take a narrow look at how the business currently operates. If you have several products that are currently not selling well, it could be a great opportunity to remove these from your inventory or redesign your catalog of offerings.
Think about other questions such as whether or not sales have been lagging, whether or not you have the most valuable tax structure for your company, or whether you’re selling the majority of your merchandise to just a couple of customers. This is a great opportunity to complete a spring cleaning across the board for all of your assets. For online businesses, it’s important to also consider intangible and tangible assets.
While it’s easy to figure out numbers for tangible assets, think about your intellectual property as well, such as whether or not you hold any trademarks or patents or you have any established business relationships with the reputation you’ve built. When it comes time to sell your business, the importance of selecting the right appraisal team cannot be overstated. Do not try to read a few books, take some advice from the internet, and try to do it yourself. You might need to bring in experts in business valuation, including those from your established professional team, such as an accountant and an attorney. A business broker can also be helpful for this process.
A business valuation needs to be completed with the best perspective in mind going forward. The support of an experienced attorney and business broker can help you to align your individual goals and take next steps with your business. Contact our experienced and dedicated business brokers today to discuss whether now is the right time to sell or whether there are steps you can be taking behind the scenes in order to enhance the overall value of your company.
So you’re finally ready to sell and move on to your next chapter. But do you know which steps, strategies, tools and tactics you can implement now to increase the value of your business? This will help you tremendously when it comes time to sell and you need to move on to other options.
Since the need to sell your company might arise relatively quickly, it’s well worth putting in the steps to increase your business’s value now while you are just beginning to think about selling your business.
There are several different strategies that can enhance the overall business value and showcase your numbers most appropriately. Having a profitable business alone is not enough to entice a prospective buyer. In fact, as any website broker can tell you, established businesses can often make missteps and mistakes in the process of listing their online company for sale.
Simply having a decent source of traffic and ongoing revenue in and of itself is not enough to convince a prospective buyer to decide to work with you and purchase your company. The more work you’ve done on the front end to ensure that you’ve considered all possible options, the easier it will be to sell your business when the time comes. What follows are nine of the most effective strategies that all can be used when you are thinking about deciding whether or not your company is ready to be bought and is truly attractive for a buyer.
Plenty of businesses that go on the market for an online sale are attractive but not ready. This typically means that they would not survive an effective transition and ownership because all of the work is reliant on you as an individual. Other businesses might be ready for a sale but simply aren’t attractive. Attractive businesses that appeal to online buyers today have been built in such a way that looks low risk and simple to operate or have a strategic advantage in the market. Attractiveness and readiness are two of the key aspects in which value can be created.
Consider evaluating your business based on these nine following steps to decide whether or not there is work to be done in enhancing the attractiveness and readiness of your company. These valuable factors include:
- Predictable processes.
- Independence of the owner.
- A solid brand.
- Competent and experienced management.
- Sources of existing revenue and ongoing methods to continue them, such as service contracts, subscriptions, or other agreements.
- Evaluated and clean books.
- A solid growth trajectory.
- Diversity in customers.
- Unique and strategic value.
It’s all too easy for an entrepreneurial owner to be excited about the profitability and revenue driving of the company while overlooking the importance of other ways to build value. However, the leg work you put in to building value now can have significant impacts on your ability to sell your company when the time comes. Consider consulting with our experienced and knowledgeable business brokers to discover what is right for you and your business.
If you’ve already made the decision to sell your business and you’re ready to start the next chapter of your life by early 2020 or mid-2020, you need to be prepared to know all of the steps involved to sell your online business.
One of the easiest ways to bypass many of the challenges associated with selling your business is to partner with an experienced and knowledgeable website broker who can help you understand what is required in order to get the best price for a company.
Having a simple plan of action and several different steps that you can take in order to get there can make it easier to understand how to accomplish these goals effectively. The six steps to consider include:
- Identifying your exit strategy.
- Getting your finances in order.
- Perfecting the appeal of your business online.
- Understanding how valuation influences your business sale.
- Preparing yourself for the due diligence process.
- Marketing your business for sale.
Having as much data as possible prior to listing your company for sale online will help you understand whether there are some key steps you can take to increase the value of your company. Consider a few important questions before contacting a business broker, including:
- What is the primary reason you want to sell?
- Are there any legal complications present in the ownership of your business now that can be navigated before the business is sold?
- Can you afford to live on the proceeds from the sale or lose the income?
- What are you going to do with yourself after you move on from the company?
- Are there automation steps and processes you can put in place to make it easier for another party to step in and manage your business?
When it comes to getting your books in order, you need to notify your accountant and your attorney. It’ a good idea to bring them into this second phase of preparing your business for sale. Sometimes a complete overhaul of your record keeping process due to years of overlooked or neglected paperwork might be required.
A prospective buyer is likely to have many questions about the overall value of your business, and so you’ll want to take steps to get your books in order as much as possible. In some cases, this very process could bring to light situations that have a detrimental impact on the price you can expect to get for the business in its current state or your ability to sell overall.
This is where you need to take a step back and decide whether or not it makes sense to address the issues and postpone the sale or to move ahead with a more immediate sale for a lower asking price. Every little step that you can take in making your business have better curbside appeal will enhance the opportunity for you to sell it effectively. The impact of this appeal cannot be overstated.
Take a good look at your online property including your sources of traffic, your website design and establish relationships you have with suppliers and vendors. There may be an opportunity to take several steps to increase the overall value of your business by making it as appealing as possible to potential buyers.
Scheduling a consultation with an experienced and knowledgeable business broker might be the next step you need to take when it is time to consider how and when to sell your business. A business broker could assist you with avoiding common missteps and empowering you with the right information to decide whether or not now truly is the right time to sell.
Images are so key on a website such as Amazon. Even though you have to put a lot of legwork and effort into optimizing your product features, description and title, don’t neglect your images in favor of focusing only on the text.
Product images on Amazon are the main thing that people are looking for to obtain a first impression of your product and decide whether or not to continue in further research. Several tips need to be incorporated when you include images with your product description. These include:
- Considering whether professional photography can allow customers to zoom in to see what they are going to purchase and to verify that all of your images are high resolution.
- Include at least one image showing the product packaging.
- Include some lifestyle images which shows pictures of the products in use.
- Have a plain white background on the primary image that does not include infographics, watermarks or any other materials that could confuse or deceive the consumer.
- Verify that the images are at least 1000px in width and 500px in height, so that the image does not get blurry as the customer zooms in.
- Take photos with other items to demonstrate the scale and size of your product.
- Make use of additional graphic design tools, such as infographics to demonstrate your product’s key features or to showcase a guarantee.
Although photos are only one component of your overall impression of your Amazon FBA product, they are an important one. Make sure that you invest in proper professional photography so that you can get the most positive first impression of your Amazon FBA product.
It might seem easy enough to take pictures of your product at home, but you could be missing out on opportunities to showcase your product in the best possible way. At home photos, unless you have a strong photography background or an at-home studio that make things look perfect, could dilute your ability to convert a customer who has already landed on your page.
You put so much effort and energy into optimizing your title, description and product features that you don’t want to lose out on the opportunity by having a consumer click the back button and decide to work with one of your competitors instead. The photos are a key part of a consumer’s decision to click through to look at your overall product listing. If they have already made it that far, you don’t want to lose out on someone simply because you didn’t have the right pictures to be able to secure them fully.
Done with Amazon FBA? Ready to move on with selling your business? It’s time to speak with our dedicated business brokers today to learn more about your options and next steps.
Do you know how to make a great impression with your Amazon FBA product? Do people get excited to buy because of the work you’ve put in to make it a success?
You have approximately 50 words or a 250-character limit for your product title in most categories. It’s a good idea to not just use this but to use all of it. Certain categories are allowed longer product titles while others might require little shorter titles, but regardless, you need to be able to use the real estate that Amazon provides you. Some of the best practices to keep in mind when creating an excellent Amazon product title include:
- Always include something of additional value, such as a key element or product benefit that easily makes you distinguishable from a competitor. Any unique facets of your product should be mentioned within this section, even though you have a limited real estate in order to be able to accomplish this.
- Reference Amazon’s algorithms, but remember that it will be people at the end of the day who are looking for your product. People who identify your product title must be able to understand it and want to click it based on the information that you’ve provided.
- Include target keywords that are relevant to what your searcher might be hunting for. Keywords that are listed in titles will have the biggest impact when compared with other options such as your description or your features. Putting all of these target keywords and the most important facts about your product in under 250 characters can be challenging.
To build on the success of your product title, you can’t forget about the other important elements that help your product to rank effectively in Amazon. These include the product rating, the product reviews, the key features about the product, the description, and the product images.
You should always make your best effort to create a listing at the outset, but always be ready to evaluate it and optimize as necessary. This helps to continue to add value to your customers. Best practice guidelines should be studied and then implemented for each of these six key factors.
This helps the overall impact of your product listing and generates potential future traffic as well. It’s not just about getting prospective buyers to land on your Amazon FBA product listing, but you’ve got to keep their attention and keep them there so they follow through the process to purchase. Overall this is one of many components that should be included in your total Amazon FBA business and listing strategies.
But it is most certainly an important one that shouldn’t be overlooked. The more effort that you put into optimizing your Amazon product listings and titles, the easier it will be for you to showcase the value that your Amazon FBA store has in comparison to many of your competitors. This information is instrumental in helping to show someone else that your company is worthy of being purchased.
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If you want to be successful on Amazon FBA, there’s no chance that you can afford to overlook Amazon product listing optimization. To be a successful Amazon FBA seller and to be able to list your company for sale in the future with the help of a knowledgeable website broker, you’ll need to have an eye constantly focused on Amazon product listing optimization.
Listing optimization makes it possible for searchers for your product to be able to land on your page, and this is a process that you must undertake not only at the beginning when you set up your business but on an ongoing basis so that you can verify that your company is always set up for success.
Product listings are practically everything when it comes to running your Amazon FBA business, and many of the most unsuccessful sellers on the site have neglected these. Nothing helps your entire SEO strategy as an Amazon FBA seller like an optimized listing. Plenty of people who launched their side hustle or full-time business as an FBA seller want more sales, but never stop to think about how their product listings could be enhanced to improve this.
Each individual listing on Amazon should be fully optimized with keywords to increase the chance that you’ll be able to generate a meaningful relationship with your customers and get them to land on that page in the first place. There are six key factors that must be incorporated into your Amazon product listing optimization. These are product rating, key product features, Amazon listing descriptions, product titles, product images, and Amazon product reviews. Overlooking any one of these aspects could be catastrophic for your business. After you’ve implemented these quick Amazon hacks, this can help you generate more sales.
Product listing best practices assist you with growing profits, increasing visits, and boosting conversions. This all goes into your overall SEO strategy. A great customer experience is also more likely to boost the chances of getting great Amazon reviews. You can use the Jungle Scout product listing grader as a great tool (it’s also free!) that will give you immediate insight into where you can enhance that listing. This will break down how every point on your page is performing and the steps that you can take to improve it. Points are awarded for each of the six key factors and you will also receive an overall ranking. All of this information provided for free by Jungle Scout is backed up by data, because they are constantly evaluating what contributes to average conversion rates for a broad range of products.
Your product listings are an important component of being successful as a business owner and enlisting your company for sale, should you decide to move on from your Amazon venture. Schedule a consultation with our experienced business brokers today to learn more about what to do when it’s time to sell your company.