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If you have a company that provides bookkeeping service Irvine, you might be thinking of selling it in future. Selling a business is not as easy as most people think. No buyer will come and give you the money you need without valuating the business. It is therefore important to do early preparations and ensure that your business is worth what you are selling it for. This means that the final amount of money you will get for your bookkeeping business will depend on the number of former customers that will stay with the new owner at the end of the retention period. You need to improve your client retention and increase your client base if you want a better outcome. Here are a few ways you can do it.

Build an attractive culture in your company

Potential buyers are always looking for cultures that fit with their own. If there is no fit then it will lead to conflict down the road. You cannot control what you are looking for but you can direct your energies on building cultures that you know will interest most buyers. This means that you will rely on your employees because they will make it or break it for you. Your employees will embody the culture that you have created.

You should stand for something and make your people buy into what you stand for. You shouldn’t have employees that are just there to earn a salary and leave the business whenever there is a sign of trouble. If the employees don’t buy into your bookkeeping services Irvine CA business, your clients may not buy into it and this could doom your deal.

Employees should be an asset

Even if two businesses have a similar culture, the way of doing things will always be different. When there is a change of owners, there will always be an introduction of new software, new processes and a new way of doing things. Before you even think of selling your business, you need to make sure that the employees will embrace the change. You might think that this is not your problem but it is your problem.

When you sell a business that its employees are not ready for change, most of the employees will leave. And believe me, the employees have some attachment to the clients so when they leave, some of your clients will leave. This means that more losses for the new owner of the business and if you just sold the business, you will get lower payment from the new owner at the end of the retention clause. To make things better for you, you should make sure that your company is always adapting, improving, training and innovating its staff in the latest practices and technologies.

The business should be independent without you

Your bookkeeping service Irvine business should be independent of you for it to be valuable. This is very important because your clients should not leave when you leave as this can translate to losses to the new owner.