Is your home based business healthy and growing or does it need a little mouth to mouth? How do you know if your home based business is headed in the right direction? Here are 6 symptoms of a healthy growing and thriving home based business.
You're consistently signing new people up
Are you always adding new people to your team or do you have the same old group you've had forever? If you're not signing new people up all the time then you probably aren't doing all the right things.
Your team members are making money
If you're the only one making money something is really, really wrong. Your team members should be thriving as well. If you are making money and your team isn't you're not going to be making money for long because people aren't going to stick with you if they aren't making money themselves
1) What is your Business Worth?- The first step in deciding whether or not to sell your business is to get a clear understanding of what your company is worth. It may make sense to engage the services of a homecare industry expert to garner an honest assessment of company's worth. This should be done well in advance of selling, and repeated periodically over the years, to give you an idea of what companies similar to yours are selling for. Not knowing what your company is worth may result in you either getting less than the business is worth or not selling your business because your expectations are unrealistically high.
2) Identify an Intermediary/Broker - There are many intermediaries that you can use to sell your business. Oftentimes, entrepreneurs first ask outside accountants or lawyers to help them. Some try and do it themselves, while some engage investment banks or experienced intermediaries. Most brokers and intermediaries work on some sort of incentive based scheme and consequently may try and get the contract by giving the potential seller a very high valuation for their business
It's one thing to talk an energy drink on the world stage and try to sell it. It's another thing to offer it to a mom who has a tearful toddler by one hand and is trying to make it through the supermarket before her 2-year-old time bomb goes off.
You've got to sell it to the mom who's desperate to make it through the evening tasks...
A nurse who's working the night shift and doesn't like the caffeine jitters...
A rock climber who wants something that keeps him going but doesn't undermine the careful work he's done to build up his body's abilities...
You're trying to sell it to someone who will sit up and poke the person next to them and say, "Hey, they're talking to me!"