Marketing Saves... what does it mean? It means that by having a team focused on marketing your business to a targeted group of capable buyers that you as the client have more salable options.
More options equals a higher reward for the client and an enhanced level of comfort with the sales process.
Effective marketing of a business allows a business owner to benefit from:
- Multiple offers = multiple benefits. A buyer who is aware that they are in competition with other buyers will remain interested in the deal as they will perceive that the deal is a good one if others are looking at it with the same level of seriousness. This perceived interest amongst buyers creates a sense of urgency and moving deals forward quickly makes all of the difference between a failed deal and one that successfully closes.
- Higher Price. When there are two or more parties competing for your business, the advantage is clear, it provides the seller with leverage. Leverage can create many advantages, number one often being a higher price, but maybe for you it is some deal terms that you are passionate about. Marketing leads to interest among multiple buyers so that you don't have to settle for a single buyer's wishes.
- Speed. Any one that has been through a business sale before knows that speed, or more specifically, lack of speed is the kiss of death to a transaction successfully closing. Marketing of a business, when done right, will have interested buyers scurrying to make prompt decisions and get organized to make the deal happen or they will lose it. It really is every seller's dream.
- Comfort with the process. Picture yourself selling your business on your own while continuing to maintain the operations of your business to a level of high standard to ensure it remains appealing to prospective buyers.
Imagine having to scope out prospective buyers and ask them if they want to buy your business. Does that give you a sense of comfort or a heightened sense of stress? It can be a long haul as the average business takes 6-9 months to sell. By having a marketing plan in place and proper execution, you can find comfort in knowing that the activities required to sell your business are taking place.
- Confidentiality. A targeted approach to marketing a business protects an owner from having the wrong person finding out that your business is for sale. This could be an employee, a competitor, a distributor - all of which could be harmful to a business' success if a pending sale is discovered prematurely. "Marketing saves" only when the entire world does not know your business is for sale.
Marketing is the number one activity that will result in a successful business sale.
A focused process that profiles the ideal buyer and targets their interest with a customized marketing plan may sound simple, but the reality is, that marketing determines buyer interest!