How much should you sell your business for? Financial Advisors often advise you to sell it for X because X is what you’ll need to live the life you’d like in retirement ... but they have no idea whether X is realistic or attainable - that's up to you. And since businesses are bought and sold at a multiple of their revenue (1.2 times, 2.3 times, etc.), when an Advisors says sell for X, what they’re really telling you is the annual revenue you need to hit in your final years of business, right before the sale.
Running “sanity checks” on your exit revenue goals and projections and the marketing programs that are supposed to deliver that revenue will reveal whether you are being too optimistic or pessimistic about the value of your business, and can help you craft a more accurate strategy for achieving your Exit Revenue goal.
Keith Loris, President and CEO of Sales Renewal, discusses how to know if you’re likely to hit your exit revenue numbers and learn how agile,...
We’ve all seen our share of tire-kickers - those would-be buyers who take their time in making a purchase decision, evaluating every detail because they’re in no rush to pull the trigger. This problem becomes especially prominent when your company’s main service or product is a comprehensive, all-inclusive solution since there’s that much more to evaluate.
Good marketers know all this time sitting in the sales pipeline hurts revenue growth, and that’s why it is important to get prospects to buy something as quickly as possible. Sales Renewal has worked with clients in different industries to minimize this so called “Time to First Dollar” by various means ( such as “unbundling” a comprehensive service to create smaller, easier-to-buy services). Learn more about reevaluating your offerings through Sales Renewal’s “
When building your business, having a great product or service is just the beginning. Communicating your company’s offerings, solutions, and advantages is crucial for turning a good product into a wildly successful one. But in the age of digital communication, traditional advertising is no longer the only way to tell people about what you offer. Connecting with your target audience through digital media can be an incredibly powerful asset to your brand and business - as long as you can optimize your message and create effective, ongoing communications with your customers.
Here are our top five tips to more effective marketing communication.
1. Articulate your marketing goal(s) and message
It’s difficult to be effective if you’re unsure what your goals are. Without defining a clear message and a way to measure the success of your communications, you’ll end up with a less cohesive and less engaging strategy that uses up time and resources without generating returns....
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