Importance of Business Listings in Preparing the Business FOR SALE

Automation increases business productivity and efficiency. Communication is easier within the business employees which makes better coordination. Businesses can also provide better customer service and interaction with the use of social media.

Modern technology sure gives us the upper hand in handling our businesses. With the use of the digital world, small businesses can open doors to reach their customers and do their business process in full service. 

Automation increases business productivity and efficiency. Communication is easier within the business employees which makes better coordination. Businesses can also provide better customer service and interaction with the use of social media.

Internet and social media platforms are necessary now for all kinds of businesses. Those that are easy to find online are more likely to get customers and gain profits. Being visible to their potential customers provides a big advantage for small and medium-sized enterprises (SME). So, aside from building their own website, many of them are now engaging in business listings.

What is a Business Listing?

Business Listing is a great way to market your business. It is a business directory where you add your information like business name, address and contact number. 

Business owners know that getting an engaging and interactive website can promote their business online. Many small businesses also set up their social media accounts to reach more people. But not many of them will think about submitting their business information to business listing sites.

Here are some benefits you will get once you sign your business in business listings.

  1. Create a strong online presence

With every one of us using the internet to search for everything, having your business in business listing sites can easily make them searchable and easy to reach by potential customers. Business listings can be categorised by type of business and location so people can contact businesses within their area.

  1. Boost your business reputation

Businesses that are found in business listings are often seen as legit and more credible. There are customers who look in these business directories and might think it’s suspicious when they do not find your business there. Knowing and hearing about your business might not be enough to convince them to contact you.

Business listings also allow customer’s review. Seeing that your company has positive reviews on listing sites, potential customers might immediately contact you and get your service.

  1. Rank high on search engine

An online business listing or business directory is seen to be a trusted source of information for search engines like Google or Bing. So, getting listed on these sites can increase your chance of appearing on the first page of these search engines. The more people that will see your business information online, the more potential customers you will get.

  1.  An easier way to sell your business

There are also business listing sites that focus on businesses that are for sale. Business owners can list their business on these sites to reach more potential buyers. Some new business owners would want to purchase already established or known businesses instead of building their own from scratch. They use these business listings to look for potential businesses to buy since business listings sites are known to have credibility and are trusted by many. Business brokers also use business listings to guide their clients in either selling or buying a business.

DDDC Business Advisory is dedicated to assisting you to boost your business value. We can work hand in hand to gain the best outcome for your business needs.

How to Prepare the Business for Sale?

It’s not unusual for business owners to think about selling their business even when they are still starting to grow them. Selling one’s business is not always because of difficult reasons. Sometimes, business owners would start a business, lead it to success and then, they want to move on to the next challenge in their lives.

Preparing the business for sale is never too early. Selling a business is a long process and should be considered very carefully. Having them listed on business listings sites could be one way of preparing it since this can increase your business reputation and value.

If you are a business owner and have already decided to sell your business, maybe not right now but in the near future, there are some things that you need to do in preparing the business for sale. Check the list below. 

  1. Organise your finances

The first thing that potential buyers will look into your business is your financial records so make sure to properly settle them. Buyers do not just look for businesses where they can gain profits. They also consider the long-term feasibility of businesses.

Work with your accountant or business consultant in reviewing your finances way back 3 to 5 years. Make sure to include every small detail of your business process in presenting your business. Be transparent to your buyer so they can get the whole idea of your business finances.

  1. Get your business valuation

Contacting a professional business broker is the best way to maximise your business value. By knowing your business value, you will know how to price your business competitively in the market. Before deciding on a number, you can also check in business listings sites for the prices of businesses similar to yours.

  1. Check areas in your business that needs presale improvement

Buyers are attracted to businesses that present themselves well. Of course, they want a business that has high gains and low deficits. So, make sure you look at all aspects of your business. Keep a clean record of your legal aspects, check your business image like your location, online publicity and even business connections, change or upgrade your equipment if needed, and maintain good working relationships with your clients.

  1. Keep your plan confidential

Work with a few people that will help you in preparing the business for sale. The fewer people that will know about the selling process, the more likely that it will push through. Getting the word out before the sale can create a feeling of uncertainty to your employees and clients and might impact your business process. This can also affect the business reputation and might result in losing a potential buyer or reduced-price instead.

DDDC Business Advisory values your effort in building and growing your business. And thus, we also make sure that you get the maximum value for it.

Sources:

[1] Smith, N. (2019, September 17). The Importance of Having Local Business Listings. Global Trade Mag.

[2] Nacht, R. (n.d.) Items to Consider When Preparing Your Business for Sale. Exit Adviser.

[3] Handelsman, M. Preparing Your Pre-Sale To-Do List. Inc.

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