Why 2013 Saw a Rise in Small Business Sales in California

If you are contemplating selling your business in the state of California, it may interest you to know that business sales for 2013 were up from 2012. Selling a business is a big and sometimes difficult decision. Even so, many business owners find this recent increase in sales to be quite comforting, especially if they want some security to know that there is a stronger market out there for selling. In fact, many potential buyers hope that these positive numbers will induce more businesses on the fence about listing their business will knowing that the market is in a healthier place for business sales in the state.

Small Business Sales Increase in California

The rate of small business sale has increased throughout the Golden State. In 2012, reports show that 14,368 small business operations were sold in total. In 2013, that number grew to 14,764 completed sale transactions. Of course, experts suggest that the increase may not be felt as substantially in some counties as others, which is typically to be expected, but that overall these good numbers reflect a new trend in upward sales that is likely to continue in 2014. Many factors appear to be linked to the increase, but one of the main reasons why these sales are going through is because buyers have better access to funding sources.

Sales in Large Counties Mixed

Some of California’s largest counties may not be feeling the increase yet, but that likelihood could change as more California businesses may be hitting the market for sale in 2014. Certainly, large counties like Los Angeles County are hoping to see more sales as a thriving business-for-sale market is a strong indication of an overall strong economy. Increased business sales are linked to better job growth too. The increase is doubly important in light of the fact that the state was losing businesses at a rate of about five percent.

What is Triggering the Rise?

While better access to money is at the heart of the increase, there may be other factors involved. For instance, experts believe that an improving house market as well as an improved stock market may also be supporting the increase in California business sales. Many small business owners also appeared to be waiting to list their business for sale in California until the market began to shape up.

Do You Have a California Business for Sale or Want to Buy One?

Increases or decreases aside, it can help the process of buying and selling to contract with a business broker. Their services can help viable buyers and sellers to sync up more quickly and effectively. Business brokers stay current with the sale market and understand the ins and outs of the buying and selling process. Their expertise can certainly impact the nature of the sale and the time frame in which a sale can be made. Contact a business broker if you plan to sell your California business or hope to purchase one.

Key Small Business Tips for Success

Small business tips for starting your own business can put you on the path to financial success.

The SBA says that the term small business includes concerns that are organized to make a profit and have fewer than 500 employees. In this post, small business includes work at home, affiliate marketing, network marketing and online home based businesses, and I will explore small business tips to help you achieve your business goals. These tips will help you get customers and generate more sales quickly.

Here are key small business tips and questions to consider:

1. Why do you want to start a small business? Starting your own business requires commitment. So, don’t proceed to do so unless you are prepared for long hours and frustration while you are establishing your business. For many, enduring this is well worth the potential of financial security.

2. Will you market a product or service? A service business is one where you offer your expertise to clients. For a product business, you will need to offer a tangible product. Typically, a product business is more expensive to launch than a service business.

3. Do you have a simplified business plan? The thought of writing a business plan is intimidating to most aspiring entrepreneurs. However, it is possible to write a one-page plan that tells the what, who, how and where of your business. You should keep it simple. You can add details as you go. Just get it started.

4. Who is your customer? Describe your target customer in as much detail as possible. Know their needs and wants. Know how you can provide a solution to their problem. This profile will help you create a targeted marketing message and save you time and money in reaching prospects.

5. What is your pricing? Pricing is an art and a science. You need to cover your costs and generate a reasonable profit. Doing research to see what your competitors are charging can help.

6. Are you watching your costs? Many entrepreneurs tend to underestimate how long it will take for their small business to turn a profit. Don’t burden your business with too many costs too quickly. To keep costs to a minimum, hire interns and outsource or barter for services.

7. What’s your plan for getting customers? One of my coaches says the secret to business success is spending 85% of your time doing things that will lead to sales and 15% of your time doing everything else. You’ll need a marketing plan. How do you plan on attracting prospects and converting them to paying customers? Design your advertising to generate sales. Your advertising should always include an offer and an easy way for prospects to respond.

8. Are you using social media? More and more businesses are moving to social media because their prospects are on social media. Only about 25% of small businesses are using social media to build their business. So, creating a presence on social media will give you an edge. This typically means building a fan page on Facebook. There are many resources you can use to build a fan page.

Here are some small business tips to attract more customers online:

1. Be sure to add local content targeted for your specific area.
2. Make sure prospects can find you online and offline.
3. Be very clear about what your business offers.
4. Participate on social media consistently.
5. Watch what your competitors are doing. See what is working and what is not working.

These small business tips require you to be consistent. It takes persistence to establish a social media presence.

If you act on the small business tips above, you will increase your chances of success, you will effectively leverage your time, and promote your business profitably.

7 Steps to Creating a Successful Small Business Marketing Plan

Small business marketing is all about determining the needs of your target market and then providing solutions to meet those needs.

These 7 steps are aimed at entrepreneurs starting a small business and those who want to create a successful small business marketing plan for an existing business.
Most small business promotions focus on how great their products and services are. Instead, you should educate your target market consistently and start building a relationship that will establish your credibility and trust. It is important to develop a marketing mindset. “Think Marketing” your products and services all of the time. It is very important to consistently market your products and services. Don’t fall into the trap of stop and go marketing. Some small business owners only market when sales are down.

You can’t have a successful small business without having a successful small business marketing plan. Effective small business marketing is the way to growth and profits

If you’re a small business owner or you want to know how to start a small business in the future, this simple 7-step plan will help you understand your business and your target market.

How to Start a Small Business Marketing Plan: 7 Steps
Begin the process by answering these questions:

1) Who — Who specifically is your target market? Who is your ideal client? What research can you do to find out more about your target market?

2) What — What products and services do your ideal clients want and need? What does your product and service do for your ideal client? What problems does your product solve for your customer? What are the solutions that your ideal client is looking for? What is your area of specialty that will differentiate you in the marketplace? What are the industry trends? What type of message will your ideal client likely respond to? What are you ultimately selling? For example: Are you selling eye glasses or are you selling vision? What is your unique mix of products and services? What is your pricing strategy?

3) Where — Where is your ideal client? Where is your customer located geographically? Where will you position yourself so they can easily find you? Where are the best places to get your marketing message to them? Will you speak to groups, hold seminars, or write a blog, newsletters or articles?
4) When — How frequently does your target market need to hear your marketing message? When are they most likely to buy your products and services?

5) Why — Why are you in business? Why do customers or clients buy from you? Why should they choose your product or service over your competition?

6) How — How does your customer buy your product or service? How are you going to reach potential buyers for your services and products? How will you communicate your marketing message? How will you provide customers or clients with the information they need to make their buying decision?

7) Marketing Mindset – Practice mastering a Marketing Mindset and you will be on the path to a profitable small business.

With these 7 steps, you can take action towards starting a small business marketing plan that targets new customers. “Marketing is about testing and evaluating your return on investment. But it’s primarily about helping people get what they want.” Master these small business marketing steps and you will be on the path to more profit and success as a business owner.

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