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10 THINGS THAT MIGHT BE HURTING YOUR BUSINESS
10 COSAS QUE PODRIAN ESTAR DAÑANDO SU NEGOCIO
TESTIMONIAL (ENGLISH AND SPANISH) / TESTIMONIO (INGLÉS Y ESPAÑOL)
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Google Reviews:
- Customer Concentration
Try to diversify your customer base and ensure that no one customer constitute more than 15% of your total income. - Declining Gross Margin
In case you are experiencing a sharp drop in gross margin, a professional buyer can conclude that your competitive benefit is eroding and you need to compete for customers via price. - Ugly Lease
If your lease agreement, i.e. the change of ownership document, demands that you seek the permission of the landlord before you place your markets on sale, this can scare many buyers and turn them off. - Supplier Over-dependence
Do not over depend on a single supplier. Make sure you have more than one supplier for your raw materials. You may end up in disappointment which can drag down the image of your company. - Sloppy Books
Take proper and good care of your books. Nothing disappoints a buyer than shoddy, inaccurate bookkeeping. - Regulated Markets
If you operate your business in an environment with unstable government policies towards companies and industries, your business can be dramatically affected, causing your buyers to get cold feet. - Employee Flight Risks
If you have a tangible number of major investors, lock them with some forms of incentive plans that either reward them to stay beyond the usual business plans or wade off the possibilities of seeking an alternative. - Owner Dependence
Ensure your company functions properly even when you are going on a vacation. Even though you may be off., your business may still be valuable to someone else. - One-off Revenue
Create a recurring income via offline means, such as subscriptions and service contracts. This will give the buyer an assurance of where solid sales may come in the future. - Bad Buzz
Make sure your customers are willing and ready to recommend your business. New buyers may request to check your recommendations or satisfaction level before initiating a transaction with you.
Conclusively, try as much to avoid silent killers. Following these tips, you can be sure of a healthy business that will guarantee a better price when it is the time to sell.