The SmallBizLady Buzz - Issue 159

How do you road test your business?

If you think you might want to sell your business in next 3 to 5 years, there are many factors to consider.

#1 Does your business have a significant potential for growth?

Track your industry trends. A deep understanding of your industry’s trends can help you reach an informed valuation that reflects your business assets as well as the current market. If you are in a growth industry, it will be an easier sale with many potential buyers.

#2 Take stock of your business assets.

Make a list of the production, property, and resources that comprise your business — assets and liabilities, cash and investments, inventory, employees and intellectual property.

#3 How strong is your sales pipeline.

How many customers and long-term contracts do you have? Do you have any recurring revenue streams?

#4 How strong is your team?

Do you have an EVP or COO that manages the day-to day operations? Could you go away for three months and your business run without you?

#5 Do you have financial documentation in order to ensure a smooth valuation process?

• Licenses, deeds and any proprietary documents.
• Audited financial statements for the last three years.
• Tax filings and returns.

#6 Do you have a basic valuation?

Calculate: business value = assets - liabilities. Your business assets include anything that has value that can be converted to cash, like real estate, equipment or inventory. Liabilities include business debts, like a commercial mortgage or bank loan taken out to purchase capital equipment. Some people use a percentage of the annual sales, or the last 12 months of sales/revenues.

Even if you aren’t planning to sell in the next few years, knowing how to value your business— can help inform your company’s road map, plus future exit strategies.

This week’s featured post is,?Video SEO: How Video Can Improve Your SEO Efforts

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Video SEO: How Video Can Improve Your SEO Efforts

Lights, camera, action! Welcome to the thrilling world of video SEO, where small business owners can unleash the power of engaging videos to skyrocket their online presence. With the digital landscape constantly evolving, it’s time to embrace video marketing and make a lasting impression on your audience. In this article, I’ll explore the topic of video SEO, explaining how video marketing can boost your SEO efforts and sharing tips to optimize your video SEO. Continue reading....

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Across town. Across the country. Roadie delivers.

Roadie?is the crowdsourcing platform that has a network of more than 200,000 drivers nationwide, covering more than 20,000 zip codes. This delivery service offers time-saving benefits, fair, upfront pricing without surcharges for evening and weekend deliveries, hard-to-reach destinations, same-day local delivery up to 100 miles, real-time tracking and free insurance on every delivery, seamless integration with e-commerce platforms like Shopify, the ability to safely carry perishable goods, and 24/7 customer support.

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Podcast: How to Protect Your Business Assets with Tracey L. Gordon

Check out this recent podcast here:?How to Protect Your Business Assets with Tracey L. Gordon

The Honorable Tracey L. Gordon Register of Wills of the City of Philadelphia, joined us to talk about how to protect your business assets. Tracey has served as a pillar of change for Philadelphian constituents for over 20 years.

Her organizing and legislative success propelled her from the ranks of local grassroots leadership and advocacy to becoming Philadelphia’s first African American Register of Wills. Her tireless dedication to the community has resulted in election protection laws, city-wide neighborhood clean-ups, advocacy for seniors and youth, as well as property value increases and protection. As the Register of Wills, Tracey is implementing comprehensive probate reform to improve quality of life Philadelphians. For more information:?www.phila.gov/wills

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Only 48 hours left to sign up for the 12 Ps of Running a Successful Business Masterclass

Sign up for my latest online course:?Fix Your Business, The 12 Ps of Running a Successful Business. It’s a 12-week course to give you everything you need to tighten up your business operations. We’ll look at your people systems, profitability, processes, and building stronger sales system, and much more. If you are ready to scale your business, you need this course.?Classes start May 1, 2023. We’ll meet LIVE every week to support you along this journey. Use the code SBL15 for a $450 discount. Register by April 28th at 12 midnight!

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Join me for some special educational events to celebrate National Small Business Week

May 1 – May 5, 2023

Monday May 1st?SmallBizLady University launches?12 Ps of Running a Success Business Masterclass. It’s our 90-day plan to get Your Life and reduce Chaos in Your Business.

Tuesday May 2nd?I’ll do a special day time edition of SmallBizChat Live 3pm-4pm ET. Join me on?www.facebook.com/smallbizlady?or?https://www.youtube.com/melindaemerson?to watch LIVE.

Wednesday May 3rd?Listen to the?200th Episode of SmallBizChat Podcast

Wednesday May 3rd?Join me on IG Live at 1pm ET for Live Office Hours with American Express. I can’t wait to answer your small business questions.

Thursday May 4th?Sign up for my?FREE WEBINAR: How to Sell and Mart Online at 5pm ET

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Subscribe and don't forget to leave a comment below!

Melinda F. Emerson,?“SmallBizLady”?is America’s?#1?Small Business Expert. She?is an internationally renowned keynote speaker on small business development, marketing and social selling. Melinda is also the president of the Quintessence Group, an award-winning marketing consulting firm based in Philadelphia, PA, serving Fortune 500 brands who target small business market. LinkedIn named her a Top Voice for 2019 in Small Business and Entrepreneurship.?In addition to being a former NY Times columnist, she is frequently quoted by media organizations including The Wall Street Journal, Fortune, MSNBC, CNBC and Fox News. She is the host of?#Smallbizchat?LIVE and The SmallBizChat Podcast. A prolific writer, Melinda has published more than 5000 articles on her blog?www.succeedasyourownboss.com. Her small business advice is widely read reaching more than 3 million entrepreneurs each week online. She is the bestselling author of?Become Your Own Boss in 12 Months, Revised and Expanded?and?Fix Your Business, a 90 Day Plan to Get Back Your Life and Reduce Chaos in Your Business.