If you plan on selling a business in the next few years, there are important steps you should take to maximize its value. Zoellner Garten & Co., your top resource for business planning advice in Cincinnati, OH, explains below how to increase the value of your company before a sale to maximize its price and make it easier to sell. 

Business Planning: 5 Steps to Increasing Your Company’s Value

1. Determine the Current Value

Before you worry about improving its value, you must first determine your company's current worth. The business appraisal experts at Zoellner Garten & Co. can help you identify your starting point.

2. Create a Plan to Overcome Challenges

Next, identify your most important challenges. Are you having trouble with customer loyalty? Is there increased competition in your sector? Are you dealing with cash flow problems? Develop a plan to deal with these issues effectively moving forward.

3. Adjust Accounting Procedures to Maximize Profitability

Some businesses enact accounting policies that minimize their tax burdens. However, to increase the value of your company quickly, you must first increase its profitability. To achieve this, adjust your accounting procedures with help from an expert.

4. Increase Your Gross Margin

When you're selling a business, its value is intricately tied to the gross margin. You can increase your gross margin quickly by raising prices, reducing the cost of goods and inventory waste, and by utilizing other techniques Zoellner Garten & Co. can recommend.

5. Improve Your Marketing Efforts

You are almost certainly leaving money on the table. Learn to snatch it up through improved marketing efforts. Provide more value, build stronger relationships, use clearer calls to action, and enact powerful marketing automation. 

Zoellner Garten & Co., Cincinnati, OH's business planning and appraisal experts, can help you maximize the value of your company and guide you through the complex sale process. Since their founding in 1988, they’ve worked with countless business owners and managers to sell, purchase, and grow companies throughout Cincinnati, Dayton, and northern Kentucky. Visit their website for their contact information, or call (513) 852-2400 to discuss selling a business with a friendly, knowledgeable professional.