Jane Toohey, Outsource2Us Managing Director, shares some key tips for putting your best foot forward when it comes to marketing your business for a merger or acquisition.
Whether you are actively wanting to sell your business or are wanting to get your business looking its best for potential future mergers or acquisitions, there are a few things to keep in mind.
Ask yourself, “If I was looking to purchase or take over a business, what would I want to know? and what would I be looking for?” Answering these questions will get you thinking about how to best position your business. When it comes to your own business, it’s likely that you will have tunnel-vision and not be able to see your own areas for improvement. Try taking a step back, reframing how you view your business and try to get an outsider’s perspective.
Why would a business want to buy you?
Make sure you are really aware of the key reasons why someone would want to buy your business.
Put together a Company Profile Sheet. Potential investors will want to know key stats on your business and having them organised in a single document will make this easier to market yourself. Think of it as a CV that covers the key aspects that buyers would want to know.
Make sure to include information such as:
- When the company/business was established
- How fast you’ve grown
- Any awards, media, or recognition you have received
- Growth and profitability over the last year, versus previous years, and how you got your business there
- Size of client or customer base, and data collected that can be used for future marketing or business direction growth
- Size of staffing and teams
- Important company assets such as hardware, or software
Public Facing Profile and Social Media Presence
Your public facing profile includes your company website, online reviews, social media pages, and any profiles associated with your business. If a future investor were to Google your company, what would come up?
Website
Your website can make or break the first impressions of a potential buyer. It’s important that your website tells your ‘story’ in a positive way. Your company story is who you are, what you do, and what is your company’s point-of-difference. What is it that makes your company unique or special? Look at your competitors’ websites in a similar field, and take notes about what you like, or don’t like about their websites. Then, try to adapt your website to best represent your mission statement, and reflect your company’s ethos.
Your website should not only be for information and marketing to future clients, but also to future investors.
Social Media
Perform a social media audit. Check over any social media profiles your business has and analyse them with the same approach as your website. Potential buyers and investors will want to see that you are ‘maintaining’ your social media presence and actively engaging through these platforms to market your business.
- Are you posting frequently enough (recommended 3 times per week)?
- Is the content your posting relevant to your target audience and/or potential buyers?
- Are there any negative comments or reviews that need addressing (this includes Google reviews)?
It’s also a good idea to see what current and past employees have posted about your company in spaces such as LinkedIn or Seek.
Market!
Market your business to other business brokers – let the brokers know that you are looking to merge, or be acquired, or, that you are open to being approached. You can find a business broker or talk to your accountant. This is where your company profile sheet will come in handy, as it will be a quick way for brokers to pass on key information about your company or business to those who would want to approach you.
