Being a leader in your field is not only a feather in your cap, but also a key tool in the sale of your business. Buyers want to buy a company they can brag about to their friends, their spouse and their former colleagues. They want a company that is a leader in their market.
"What does your company do?"
Business owners are asked this question hundreds of times. Answers can be simple: “we are a machine shop” “we distribute medical supplies” “we provide phone messages”. They can also make the questioner sit up and listen “we are the leading manufacturer of bubbler cylinders in the world” “we supply every major hospital in New England with cutting edge disposable supplies” “we are the largest telecommunications voiceover company in the Northeast”.
Buyers will pay a premium for a company’s unique market position, one that cannot be easily overcome “by throwing money at it” with price competition or innovation.
Know the aspects of your business where you are the leader and exploit these differences. If you are not a leader, then becoming one in some aspect of your business, will tend to have a positive impact on the sale of the company.