When selling a business, buyers look at three things: your price positioning, what makes your product unique, and how you market it. Patented features, exclusive ingredients, or proprietary marketing hooks are what justify your company's value.
What I wish I had known before selling a business, which is having unique value proposition. So what differentiates you from your competitors? It could be product, it could be price, it could be promotion. I think those are the 3 most common. Where do you fall in terms of price? You can either be a low-cost leader or you can be the premium leader. Premium leader meaning your most expensive, most value. Low-cost leader mean lowest cost for most value. The second is product. There's something with your product that's different. With anything like e-commerce or food, it's like you've patented a certain ingredient, things like that. And then when it comes to promotion, it could be that you have a unique marketing hook that you copyrighted or trademarked or whatever, you have something that's working really well with promotion. And so those are the 3 things that I've seen that when I've seen buyers look at businesses that they have identified as the reason that business has wherewithal, it's because it has some kind of unique value prop that is one of those things.
