After years of running your business, have you thought about selling it for a substantial profit? If you haven’t evaluated your business lately, you might end up discovering some surprises on what it’s really worth.
While you probably think of your business value as all revenue and profits, buyers look at many other variables. Part of this comes in measuring your business processes. More accurately, it’s all about documenting these processes so a buyer sees what you’ve done to build your company.
CRM implementation moves things forward and documents everything from marketing and sales to customer service.
Take a look at how this improves business valuation for a faster sale.
Proving Your Profitability
While this is one of the most common business valuations, it still pertains to owning a CRM. Your CRM platform lists all the sales you’ve made since buying the program and even projects the future profitability of the business.
Metrics are a major part of CRMs, so you’ll have a lot of data at the ready to show your prospective buyers. Since you can access this information 24/7, including on mobile devices, it’s easy to present your profit charts.
Of course, buyers want to see if you have any liabilities, as in major debt. These metrics can prove you have a clean financial record.
Your Marketing Processes
There isn’t a better tool for marketing than using a CRM. Quality CRMs can up these conversions as much as 300%, proving what it does to prove your marketing prowess.
All of this becomes easily documented in a CRM for buyers. They can see how many leads you’ve generated over a year’s time, and which ones you’re still nurturing.
Thanks to your CRM having this data easily organized, the new buyers can easily take over your business without starting over. In fact, they can take over existing leads and nurture them while having all the data they need to take the leads through to the conversion phase.
Your Sales Processes
CRM implementation can immensely help with your sales processes. You have multiple communication methods and data on general customer personas. CRMs often gather data in real-time, so you can build accurate profiles on which customers are the most loyal over others.
Any buyer is going to find this very valuable if they want to keep the same loyal customers you’ve maintained for years. Sustaining the same customer base during a transition helps them in their early stages to maintain profit during their first year.
The same goes for learning about your sales processes, including the CRM itself. Passing on this tool to help with sales tactics is already a great asset the new owners can acquire without having to invest in it themselves.
Scaling All Processes
With all of these processes available in a CRM, you can see why it’s such a valuable investment to make in valuating your business. It goes even further, though, thanks to the cloud being involved in CRM programs.
All your data is easily accessible from the cloud, but allows all features to scale when it’s necessary. Those who want to buy your business want to see whether it has any chance to scale easily without added expense. Your CRM allows this to occur if the owners want to expand and take your business to the next level.
Documenting all your processes makes this easier, particularly if the buyer doesn’t have prior experience in the industry you represent.
Here’s a quick guide to successful CRM implementation.