Predictable Businesses Sell!
“The past does not dictate the future...but it can draw a very detailed sketch.” ― Aegelis, Sophizo
Buyers love predictable businesses and will pay top dollar for them! While a seller can’t guarantee what the future holds, they can point to the past as a record of what the business has proven it can produce.
A strong track record of consistent sales and satisfied customers is a compelling opportunity for buyers. Even better is a strong track record of success and the blueprint for making the success happen!
A blueprint is a guide, a design, or a pattern that can be followed to get a predictable result. In business there are several blueprints for success that you can use that can make your business more attractive to buyers.
Strategic Vision: Like a blueprint that outlines the overall design and purpose of a building, a business needs a strategic vision that defines its mission, goals, and objectives. Once completed it provides a roadmap for making decisions about the business's development and growth.
Workflow and Processes: Like electrical and plumbing plans in a blueprint portray the detail flow of utilities, a business blueprint can include workflows for the operational flow of activities. Work processes can provide detailed instructions along with the quality, quantity and timing details of how tasks are performed.
Organizational Structure: Just as a blueprint specifies the layout and structure of different areas in a building, a business establishes an organizational structure that outlines roles, responsibilities, and reporting hierarchies. It defines the relationships of positions and their functions within a business.
Almost every buyer purchases a business because they believe they can make it better. Whoever buys your business may not follow your vision, or stick with your organizational chart, and they will likely improve on your workflow and processes. That is the beauty of having a blueprint for success, a buyer can look at how you got your business to where it is, and they can revise and modify to achieve the results they would like to get from their new business.
However, without the blueprint to rely on, it may be hard to replicate your success, let alone improve on it.
Predictable businesses simply have more value when they go to sell. If a buyer is comparing two businesses which are producing the same revenues and profits, they will be trying hard to discern which one of them will give them predictable results they can count on.
If you have any question about how your business can bring you maximum value when you go to sell, check out the 8 Drivers of Value. And find out how ready your business is to sell through your Value Builder Score.