I had a recent discussion with a friend about “staging” a company for sale. If you watch HGTV, you’ve probably seen shows dedicated to home staging – preparing a house for sale by highlighting its strengths and downplaying weaknesses. You may have heard of folks going through this exercise and discovering they like living there much better and canceling the listing.
Staging your home mostly involves doing simple things that you know need attention – eliminate clutter, repurpose rooms, add complementary furnishings, replace antiquated hardware, and make obvious repairs. For a business, staging might involve getting rid of obsolete inventory, writing off non-performing assets, renewing customer contracts, or introducing complementary products.
But why wait? If you know of areas within your business that need attention, address them now and enjoy the benefits long before it is time to sell.