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5 Practical Tips On How To Sell A Startup

Smruthi Kishore

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Planning to sell your startup company might be the toughest thing than setting up a startup. The road to acquisition can be difficult but it is not impossible. Most of the times startups are established only to sell them to larger companies for a decent profit.

Here we discuss 5 such practical steps which might be helpful while making a decision to sell your startup.

1) Have a clarity on what you own

There is a huge difference between you approaching someone and someone approaching you. Most startups are a complete mess. This creates plenty of doubt when the buyers are considering a deal with you. For a successful sale of your startup, get to know your buyer first. Plan yours acquires 18 months in advance of the sale. For selling a startup, you need an experienced attorney in order to have a perfect sale.

2) Being realistic always works

One should set realistic pricing expectations. If you are thinking to sell your business, it only indicates that your business might have stagnated or you lost interest in it and you want to move on. So, having realistic expectations and understanding the market often saves time. As a founder, you will always feel like you deserve the time and money you spent on your venture.
You can sell the whole project with all the assets at one go but many buyers will be asking you to continue working on it or provide minimum support for a certain period of time. So being realistic with your deals will always be appreciated.
3) Stage yourself and your companyYour business venture must be presentable before you show it to your buyers. Financial statements must be audited to ensure all the transactions are recorded correctly and standard GAAP (Generally Accepted Accounting Principles) have been followed. 
Founders should ensure that their own interests are been protected in the company vesting and equity contracts.

4) Show Lucrative Figures

Buyers will always consider the long and short of things like risks, profits, growth and much more. When you decide to sell your startup, try to outline these things outlined for your buyers in order to grab the buyer’s attention, as it is quite common that buyers don’t waste much of their time listening to your proposals. So showcase the buyers only your lucrative figures.

5) Know the pace of the acquisition

Larger business often moves at a slow pace. So sell things which work in the long term plans. The first and foremost thing is to be patient enough to deal with these acquisitions. Give the buyers a proper growth plan so that they will see the investment you have put in your Startup company. So be sure your idea is grab worthy.

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How To Keep Your Best Employees Motivated

Ramya GovindRaj

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How To Keep Your Best Employees Motivated,Startup Stories,Best Motivational Stories,Inspiring Startup Stories,Best Employees Motivated,5 Ways to Keep Your Best Employees,How to Keep Your Employees Engaged,5 Steps to Keep Best Employees Motivated,How to Motivate Employees

Employees are the backbone of any organization. Good employees provide the added muscle required to do the heavy lifting. However, good employees do not last for long in one company if they are not treated fairly. Here’s a checklist of things managers and management can do in order to retain the hard workers and keep them happy.

Give them room
Give them the space to grow and do their own thing. Good employees generally think out of the box and go the extra mile to make sure their work is up to the mark. In order for them to provide the best results, give them room to develop on their own but help them by providing them a road map and the necessary tools and support. Once you leave them be, they work harder to prove themselves to the rest of the world.

Communicate
Have open channels of communication with all the employees. Let them be a part of the decision making process. Only if they believe they are a part of something bigger will they also be involved in the company. Hold weekly or monthly company wide staff meetings, discuss the growth metrics and come up with ideas for the week or month. Communication and feedback make employees feel valued and their work appreciated.

Responsibility
Unless employees feel a sense of responsibility towards their work, they would not have the urge to do more. Delegate responsibility to the employees and monitor their growth. It has been proven time and again pointing out opportunities to individuals within the company creates a much greater workforce stability. Added responsibility boosts productivity and allows employees to find purpose in their work.

Incentives
Reward the work good employees do in order to motivate and encourage them to do better. Incentives send the message the management is keeping track of employees work and is keenly following their development in the company. Incentives, rewards and recognition improve employee engagement, individual performances and attract high potential employees. Retain the good employees by letting them know there is something in store for them as well and it is not just a one way street.

Challenges
Good employees tend to get bored with routine work and like to be challenged regularly. It is impossible to grow if there are no challenges at work. As a company, try to maintain a culture that embraces and encourages challenges rather than floating along on autopilot mode. Challenges pave the way for innovation and improvement by testing various workflows and finding a system that works for everyone.

When employees are made to feel cared for, their career is nurtured and their needs are met, they will serve the organization well. It is important to place trust in the employees, let them take the lead and appreciate their efforts to retain employees and motivate the best ones.

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How To Make Clients To Fall In Love With You

Smruthi Kishore

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How To Make Clients Fall In Love With You,Startup Stories,Best Motivational Stories,Inspiring Startup Stories,4 Ways To Make Your Clients Fall In Love With You,client relationships,few tricks to deal with your clients,Learn how to make clients fall in love with you

There are several ways to make people fall in love with you, especially if you have hard to please clients. While there are several tried and tested ways of getting your clients to like you, the trick is to think of your clients as the object of your affections and dreams.

Think about what happens to you when you fall in love. You’re happy, giddy and excited. Your face carries a perpetual smile and your stride has a bit more bounce to it. Especially, when you’re in love, you can’t help but share your good news to everyone. Telling your friends adds the cherry on the top of this delicious cake. Well, in all honesty, client relationships are very similar to this. You want them to be attracted you and your product, be exclusively in a profitable relationship with you and to tell all of their contacts about you! If you are still confused, then here are a few tricks you could use to seal the deal with your clients!

1. Look into their eyes

Gaze at them, giving all your attention. Do not stare into their eyes like a creep. Look into their eyes with honesty, feeling and a sense of understanding. This helps in showing your clients that you truly get what they want and you are sincere about their needs.

2. Make the connection sizzle 

You know there are moments where you feel that burst of electricity when you’re with the person of your dreams? Yes. We know. We feel it too. To make things sizzle with your clients, then the same old things just aren’t going to make the cut. Let your clients know you can keep things exciting, fresh and on their toes every time! Make the client feel special, as if they are your sole customer! Cater to their needs in a timely manner, keeping them apprised of the timelines and deadlines. In essence, communicate and connect!

3. Keep the mystery going 

With your loved one, a little surprise and delight never hurt, as you continually are able to keep it fresh. A gift for no reason? Yes, please. A spontaneous weekend getaway? Why not? A surprise party with family for a big birthday? Talk about feeling appreciated. Customers are no different. Send them an unexpected “thank you” note or a care package!

4. Always stay in touch 

Be honest and true in all of your dealings. Make your client feel you are the best and only game in town! To know you is to love you! Let this be the mantra your clients chant — which hopefully would lead to a long standing and profitable relationship for both of you.

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How To Deal With Difficult People At Work

Smruthi Kishore

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As one of the most evolved species in the evolution chain, we humans have a knack for understanding individual traits with precision. While it is often easy enough to distinguish from one another in most aspects of our lives, it can be challenging to do so on the professional front. There are several types of people who you encounter on a regular basis at work, making it hard to distinguish one feature from another. If you still aren’t able to figure out individual characteristics to be aware of, then this list might just help you!

1. The Narcissists 

You know the kind of people whose words start with I and end with Me? Yeah, you know who I mean. The people who really don’t do a lot, but get noticed anyway because of the way always go on about themselves? These people fall into the bracket called the narcissist. Unfortunately, because the rest of the workforce doesn’t know how to deal with them, they are pushed into leadership roles. How do you deal with them, then? By beating them at their own game of course!

2. The passive aggressive people 

Passive aggressiveness is a form of anger, but not an outright form. You may be tempted to try and get to the bottom of what’s making them angry and try to resolve the problem. But from personal experience, do not go there! They will promise to help you with a project but then they don’t. Or they’ll show up 15 minutes late. They always drive everyone crazy at the end of the day and you’re left wondering what you could have done differently. If you just have to work with them, then try turning your aggression up a notch. Always gets them in the wrong places and the output of your work is usually perfect!

3. The guilt trippers

Guilt trippers lay on the emotions way too strong. Its like you know you were guilty, but when they start telling you what they think, you’ve lost the game altogether. If you’re working with a colleague who’s like this, then the best way to deal with them is to divide your work equally. This helps in creating balance and ensuring the blame game isn’t possible! You win. They win. The project wins!

4. The Whiner 

You know how you have worked really hard on a project and deserved recognition for the amount of effort you put into the task? Yes. That seems fair. However, there’s always this other person’s voice in the background (no. Not your subconscious,) which keeps cribbing about how they would have been perfect with this project but just weren’t given the chance to prove themselves? These are the whiners. They will cry. They will crib. They will make life hell for you and your team because they just couldn’t speak up. So the next time you hear a whiner crying, give them a harder task and make it an ultimatum of sorts! Pressure really does help!

If you are working with people like this, then make sure your boundaries are just yours and that you have made your 9 to 5 hours comfortable! If you have other kinds of people you deal with, then please comment and let us know!

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