Not only do you want your business to generate inquiries, you need to keep track of where those inquiries came from.This shows which marketing initiatives are working and is appealing information for a potential buyer.With strong attention to SEO during the previous 7 years, my event planning company generated 300-400 inquiries per year.
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3) Read Built to Sell This book, Built to Sell, is key to building any type of sellable business.
I read this book after being in business for about 4 years and implemented many of the strategies which eventually led to a successful business sale.
This makes it easy for a new owner to step right in and be productive.
9) Keep a copy of all past event contracts Potential buyers may want to see copies of past client contracts to confirm the amount of business that has taken place.
6) Don’t make your business all about you Most of us start out as solopreneurs which is just fine.
If you are considering selling your event planning business in the future, you will generate a higher sale price if the business isn’t just about you.
If accounting isn’t your strength, hire a bookkeeper and/or accountant who can help you for a few hours each month to keep your financial records up-to-date, reconcile your business bank statements, and prepare your business taxes.
2) Focus on lead generation and keep track of where leads come from A big selling point for my planning business was the number of leads generated on a yearly basis.
At some point in your event planning business, you may consider selling your business.
Or, perhaps, selling your event planning business is part of your business exit strategy.