Author: Moyn Islam, Co-Founder & CEO of BE
If you’re a business owner, have you ever had the idea about selling off your company in the future? If so, as a business owner, first, you must find out how you can maximize the value of your business, make it attractive to potential buyers and get money. Do you know that only 25% to 33% of medium-sized businesses offered for sale actually end up selling? For obvious reasons, the buyers want investments that reduce the risk and maximize return.
As BE founders, I and my brothers Monir Islam and Ehsaan Islam, wanted to focus on a few key factors or value drivers that help you to evaluate the strength of a company and increase its overall value. Well, our company BE has leveraged advanced artificial intelligence to revolutionize the EdTech and the Online Travel space. Our well-planned concept of ‘Live & Learn’ is unique and combines e-learning with live streaming of tech and non-tech courses and mentoring. The online travel business is a subscription based model to allow people to travel the world at lower than market costs. Let’s check the key pointers.
Realistic & strategic growth plan
Are new services or products in the pipeline? Can you take your business model and roll it out to the current market effectively? These are a few ways to capitalize on growth opportunities. We have strategically scaled our company BE and have constantly added new value drivers for our customers. So build it to a scalable model that anyone can become an independent brand promoter and earn residual income by partnering with us.
Diversified customer base
Typically, the buyers look out for a client base where no single customer accounts for over 8 to 10 percent of the total sales. A diversified client base protects your business from the risk of losing a huge customer base. With my experience I know it is an important assessment through the eyes of any buyer. With BE our objective was to add value to everyone and this vision translated into a large and diversified customer base across the world for us.
Steady cash flow
Ultimately, all buyers look out for businesses whose cash flow is increasing with each passing year. The larger the portion of stable and recurring revenues, the more desirable your company turns out to be for your potential buyers.
Your company’s competitive advantage is the key reason why your customers buy from you and not from your competitors. If your company has a competitive advantage that you should surely protect it as well as promote it to the buyers. BE’s edge is the customer first approach and the ability to add to people’s lives by allowing them to build their own business and earn residual income using our technology platform just from their smartphone. Anyone can unlock the freedom to live life on their own terms without trading time with their loved ones for money.
Financial foresight & management
While purchasing a business, buyers will typically scrutinize the company’s performance and its financial condition both in the current time and in the past. Having a reliable financial system to manage your business, protect assets, and support your company’s financial claims is a must for a successful sale.
If your business is thriving and impacting others, then there is no question about selling it. However, to raise a successful business from scratch, one needs to focus on the above-mentioned key value drivers to enhance the company’s profitability and increase the business value as a whole.