If you’re thinking of selling a business in Australia, staying ahead of the competition should be part of your plan. After all, who wants to buy a business that doesn’t have its act together?
Is your small business up against heavy-hitters? Then it’s likely you’re willing to try anything to keep ahead! Great promotion faces the challenges privately owned small businesses face. Considering the stock of your competitors, how can your business shout louder in such a busy marketplace?
Strategy is only effective with proper execution. Your business is a lemonade stand: how can you outsell the kid across the street? You pitch a better case, sell a better product. Marketing is all about perception, and it’s the difference between products and services of equal value.
Here are tips to consider when selling a business in order to boost your chances of closing the sale. Since gimmicks have reputation of being conmen’s tools, these 5 are gimmick-free, sure-fire ideas:
Tip # 1: Give your stuff away, really
This may seem counterproductive for small businesses, but it’s the best strategy if you really take pride in your offerings. You get to attract a larger customer base quickly using this technique, something sure to pique the interest of potential buyers when you’re selling a business.
This tactic works well if you’re selling unconventional products, like beer-flavoured ice cream. Most people won’t bother buying in retail until they appreciate samples; this is why sample stands are so popular.
You shouldn’t skimp on the quantity of the samples, either. In the case of beer-flavoured ice cream, the sample should be a mouthful. If you’re giving away vouchers and coupons, the discount should put a dent on the actual retail price.
Tip # 2: Share your expertise at networking events
The most successful businesses thrive in communities. Go meet like-minded networks of peers and competitors. Who knows, you could even meet your buyer at one of these events.
Never shirk away from opportunities to contribute, especially if you have something of value to offer. When selling a business, you have to continue to build your business. Okay, there’s the urge not to share because of the competition, and for good reason. The rule of thumb is to offer anything that builds the industry, short of compromising your business’s advantage.
Networking is crucial if you’re service-oriented business. No conventions scheduled in your area? Then organize one. And don’t pass up the small gigs. Remember it’s all about contributing to community and networking when selling a business. The headcount of events shouldn’t be an issue.
Tip # 3: Maintain a regular podcast
It’s PBS on the internet, and you have full control of the content. If you’re plugged in to the community, then a regular podcast sweetens your prospects, both customers and potential buyers when selling a business.
Invite interesting guests to your shows, or even competitors (an adversarial approach always works). Talk about topics relevant to your audience, your clients and customers.
People love to share their stories, and a podcast is excellent platform for moderated discussion. You’ll establish meaningful ties with listeners as you educate them on topics you’re passionate about.
Tip # 4: Email updates to your customers
Build relationship with your customer base, but make sure you send email worth reading! Spamming your customers with the day’s best deals doesn’t help, unless this is part and parcel of your enterprise’s nature.
Some businesses send email once a week, others whenever there’s something of value to share.
The goal of emails is consistency, reinforcing your business as a reliable brand. Content should also be personalized, or at least relatable. Take your cues on email lists you’re subscribed to–what convinces you to read these regular updates?
Tip # 5: Support causes and organizations
There are plenty of causes to participate in, but you should have vested interest in these prospects. An Earth Day event should promote your brand as cost-efficient product or service. A charity food fair must market your product as the healthier alternative. Open your mind when selling a business is your goal. Be creative.
Charities and cause events are selfless affairs, but it’s also opportunity to promote your business as a viable brand and as a great deal. Your competition is maximizing on this advantage, so there’s no reason not to follow suit.
The Key to Selling a Business
Pull all the strings you can as you build your brand, take advantage of marketing tricks at your disposal. As a small business, what’s important is interested parties consider your business better than the competition. Drum up interest with promotion, and then back it up with products and services that deliver to expectations.
Want to get ahead of the game when selling a business? Zerocommission.com.au will list your business for sale on the top websites in Australia for a one-time nominal fee. Learn more on our site and sell your small business today!
Check out these other blog posts we’re sure you’ll enjoy:
- 5 ways social media can sell your small business in Australia
- 9 reasons to share your property/business listing on Facebook and sell quickly
- For Sale by Owner Tips: 5 things you must tell potential buyers
- Advantages of online real estate agents versus commission-based agents
- Why a For Sale by Owner deal is the best choice