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Making your business a target for an acquisition is a viable exit strategy, but it’s not something you can do halfway. A business seen as safe and conservative won’t be attractive to larger companies that might try to acquire it. Instead, you need to establish a competitive advantage and show other companies why your business is worth their time. While it is difficult to say precisely how a business can establish a competitive advantage, there are a few tips that you can keep in mind that have worked in the past.

First of all, you’ll want to niche down to a specific part of the marketplace. Your goods and services should be geared toward a specific market and clientele, whether that is people working in a particular industry or customers in a certain age group. Develop a unique sales position or USP while you’re at it. This is a one-sentence phrase that describes what you have to offer to your clientele. Use it to call out your niche and what your products and services do to help those within that niche.

Your next step is to really step up when it comes to customer service. Your business needs to be successful if you want it to be acquired by a larger company, and the only way you’re going to prove that is by showing that your customers are satisfied. Always be ready to go the extra mile to serve your clientele. Listen to what they have to say, and give them reasons to keep coming back to your brand.

Finally, be ready to meet with other companies who are interested in an acquisition. If you have an attractive and unique product and you can prove that your customers will remain loyal to your brand even after the acquisition, you should be able to attract companies who will at least be interested in your business. It’s not a guarantee that an acquisition will happen, but it is a good start.

For more information about how you can get the most out of acquisition and make your business more attractive to larger companies, contact Lode Capital today.