Many times the most valuable asset on a business owner’s balance sheet is the equity in their business. Helping my clients walk towards financial freedom, I am sometimes surprised at the answers I get when I ask the question. Here is a brief sampling; my neighbor down the street sold theirs for this amount and mine is better, well, rule of thumb is 2.5 times the net revenue or my accountant told me. The more important thought, will my business sell at the time I want to leave my business and for the price I need to fund my future hopes and dreams? A CPA and/or a certified appraiser will be able to help you maximize your bank account not the account of the IRS. The valuation method you choose should be approved by the IRS. This will likely be one of the largest transactions in your life, make sure you choose the right one. There are 6,330,000 entries on ask.com on how to value your business. Yikes, which is the right one? Make sure to choose a qualified expert. Most times there is no fee for an initial consultation. Get references and make sure they are not “practicing” on your business.
Next; my business is worth 500,000.00, now what?
Have you seen your competition mentioned in magazines, leading newspapers, or as guest on TV shows? Why not you? Have you tried? Do you know how to make this happen for you?
On getting publicity, here are some things to consider.
So knowing all this, what can you do?
SCORE Atlanta had a conference earlier this month where we focused on building sales and marketing skills of people already in business. I conducted a seminar titled “Shameless Self-Promotion: Do-It-Yourself PR.” The slides from that presentation are available online at www.slideshare.net/scoreatlanta.
This presentation will give you a lot of ideas…ones that have worked for me in landing mentions in/on O-The Oprah Magazine, Fortune Small Business, The TODAY show, and more. The key is not to try contacting the media but to position yourself so they call you.
All of my ideas take you down the road to more publicity by improving how you show up in organic searches on the Internet (usually referred to as SEO or search engine optimization).
Check it out and add to my ideas with your comments. (Since doing this presentation, I’ve added several more ideas to my list.) Let’s see if you have more.