Aside from your financial history, it’s also good to consult your financial advisor on a three-year forecast. Setting realistic goals that are more likely to be achieved and successfully following through will boost your value.
Have your M&A advisor review your company’s current standing. See how you can strategically build up your business value before setting it up for sale. Ideally, an advisor would have several action plans feasible over 6–12 months. Here are some general tips that can aid in growing your business value:
Streamline company processes - Clean up your business workflow. Make it faster and more home owner database efficient by cutting out any unnecessary procedures or merging steps in getting new recruitments if possible. Faster recruitment, after all, does drive better performance and costs significantly less than dragging out the hiring process. It uses less energy and resources.
Reduce your budget - Budget cuts don’t have to be for a negative reason. This helps you take control of miscellaneous spending so that you can allocate the funds elsewhere.
Strengthen your database - Having a well-maintained database can boost your team’s efficiency in recruiting. It makes finding new candidates faster and speeds up the actual recruitment process.
Invest in lead generation - Acquiring new candidates is no easy feat, especially if the roles you’re trying to fill are niche or more complex than the average.
Check out how you can improve lead generation. You can expand beyond your regular job hunt platforms and emails. You can use social media platforms and market trends to revise and enhance your recruitment strategies.
Find new sources of funds - Look into the different ways to fund your business. Acquiring more monetary support can help you kickstart new revenue-driven projects or even build better programs for your recruiters.
Reinforce your branding - Establish your business as a successful one. Have a mission statement that pushes for the kind of success you want your buyers to see. Make it a point to run towards that goal as a business.
Strengthen Employee Value Propositions - When you’re looking to attract strong applicants, you should be able to highlight strong EVPs that applicants would covet. You can build this with an appealing workplace culture that has morally grounding standards and always considers its employees' interests.
With a strong EVP, you’ll get better employee engagement and better work performance.
Aside from complying with your advisor’s recommendations, you can also take the opportunity to build your business value by curbing the chances of low turnover rates. Here are some ways you can strengthen your recruiters’ preference to stay with your company longer:
Positive reinforcement - Don’t miss out on the opportunity to give employees a kudos or a due recognition for a job well done. Acknowledging their hard work can help foster a stronger sense of importance in their roles.
Build training programs - Allow them to grow in their field with training that can help your business thrive. This can be done through your newly acquired sources of funds. This can be in the form of strengthening their recruiting skills and sharpening their eye for suitable candidates.
Create mentorship programs - Partner mentors with recruiters new to the industry. Aside from training programs, mentorship programs provide employees with the opportunity to strengthen team camaraderie and forge a good recruiter’s mindset from learning with experienced employees.
Give them accountability to projects - Let them create their own projects with the goals they set for themselves. This will give them a stronger sense of purpose and feel even more important to the company.
When you’re dealing with your potential buyers, it’s imperative to put your best assets forward and package it in a way that helps them rather than merely to sell your business. Your sales process is what will undoubtedly determine the true success of the transaction. Here are some ways you can keep your sales process successful:
