Can you exit your business if you’re in a declining industry?
The answers – according to CJ Whelan, who co-founded Adigo, a teleconferencing business, is yes — on one condition: you must have sticky customers.
In the absence of an innovative product, acquirers may still buy your business if you can prove you have a loyal customer base that is likely to keep buying years into the future. Adigo enjoyed churn rates of less than 5% per year, so easily attracted three competing offers.
In this episode, you’ll learn:
• Why happy customers could be your most strategic asset
• What churn is and how it impacts your value
• The one thing that makes a business attractive to multiple buyers
If you’re interested in improving the value of your business, take our questionnaire or contact Colonial Business Brokerage today at 443-982-7332.