The most valuable (and overlooked) asset in your biz
Quick tip for you today that can make you much wealthier than you are now.
But there’s a drawback.
The drawback?
This only applies to you if you want to sell your business someday. Or if you want to help your clients sell their business (and get a slice of the profits they make as well).
If you never wanna sell your biz, this won’t help.
But if’n you do?
Listen up.
Even if you don’t plan on even considering selling your business for at least 10 years.
Because this “trick” I share today will make that fat check you get when you sell your biz just a lil bit fatter.
Here goes:
When you try to sell your business, there are a buncha factors that go into it.
Of course, you need buyers. And in order to attract buyers, you need a valuable business with a proven track record of making money.
And you need a bunch of other stuff I’m not privy on nor wanna give advice on. I’m talmabout things like lawyers, accountants, evaluations, etc.
But when going through this long, legal process, many people forgot about perhaps the biggest asset they’ve built in their business:
No, it’s not a proven offer.
No, it’s not a laundry list of potentially money-making offers.
It’s not even your history of success or how many customers you served in your business.
Of course, these help. But nobody trying to sell their business forgets these fundamentals in their business.
But you know what they do forget?
Having an active, engaged list of email subscribers increases your valuation.
In fact, I hear tell that you can add an extra 10% or so to the sale price of your business if you have about 10k engaged and active customers on your email list. (Give or take… it could add way more of a percentage to your sale price, or way less.)
Pretty nifty, eh?
Check this out:
Direct response legends have used this “trick” for years in the direct mail space. It just wasn’t an “email list.” It was a “buyer’s list.”
Here’s what they’d do:
They’d write a sales letter selling something. Then, they’d get a list of buyers (and make money from whatever they sold). And they’d turn around and sell that list of buyers for a big, fat premium.
Sometimes to the tune of a million dollars or more — just for that list of buyers.
And you’re doing exactly the same thing.
So, if you want to sell your business someday, keep your email list engaged, active, and buying. It just might be the most profitable thing you do over the next coupla decades. (Not to mention, all the loot you’ll stack up between now and the time you sell your business.)
And if you’re a fellow email copywriter… make sure your clients know how crucial their email list is.
Anywho, if you want to keep your email list engaged, active, and buying…