Step One – understand what is important to the buyer

Just like finding the USP for a product first, you must consider what buyers are looking for. Obviously, if your business is doing well financially this is a natural selling point that won’t take much explaining – after all you can let the numbers do the talking. However, in some cases, buyers may be looking to invest in a particular sector that they require for an existing business, or perhaps they are looking to expand their own portfolio with expertise in a niche area.

Consider what your business can offer, ask yourself, do we have a niche or mass-market product offering? Are we specialists in a certain area? Is there potential for growth?

Step Two – Looking at the wider market

The buyer will also be interested in the long-term, so knowing what sets you apart within the market is also important.

Here we could consider our 4p’s:

Product

Is your product different to that of the competitors, if so what makes it different? This may be a subtle difference such as colour or more defying like an advance in technology.

Also, consider your brand and intellectual property it could be a patent or trademark that gives you the competitive advantage.

Place

Think about your distribution, if you have a physical product that requires thorough logistic operations and your business is in the perfect accessible location you may be on to a winner. Alternatively, you may offer a service that customers require direct access to and you are in the city centre.

Remember your online community too. You may have a large following on the right platform of which to sell a certain product or service, and this could work in your favour.

When selling a business, it’s not always about what you sell.

Promotion

Closely connected to place, your promotion is important to consider, after all you may know your customers very well and can therefore provide knowledge the buyer does not have. No doubt, you will have access to data from successful and unsuccessful campaigns; it is this type of knowledge that may be extremely valuable to the right buyer.

Price

What are your price points in comparison to the competition? If you can afford to provide competitive rates, a potential buyer may find this attractive, as it could be an easy way into the market.

On the other hand if you offer premium rates with a brand and product that reflects this it can be equally as appealing.

Step Three – Selling Your USP

Once you have your USP it’s time to reach the correct buyer so ensuring your message is clear and consistent is vitally important. Mergers and acquisitions specialists can help with ensuring your message is presented in the best way possible, so consider asking the professionals.

Employees

These days, many businesses are fighting to keep employees and reduce churn. And it turns out that the location of your business can either discourage or encourage potential employees from working for you. Is your business close to a bus stop or train station? Do you have free parking close to the office? And are there places for your employees to go and grab a coffee or lunch during their breaks?

Suppliers

Suppliers are obviously a key part of your supply chain. Without suppliers, you’ve got no products for your customers. That’s why it’s a good idea to consider where your suppliers are located and whether it’s easy for them to reach your business. When your suppliers are located nearby, it’s easy for you to see both the suppliers and your products. It’s also much easier for you to restock once stock is low.

Customers

The first thing to consider here is your target audience. Are they tourists? Locals? From the UK? If you’re targeting locals, a shop in the centre of the city or town square is ideal. If you’re hoping to attract tourists travelling from other parts of the UK, it’s a good idea to look for an industrial unit to let close to the motorway or even near an airport.

If you have a B2B business, you may be best to be in an industrial or business area so you can have plenty of meetings with other business owners.

There are pros and cons to many different locations for your customers. While a location in the middle of the city is excellent for foot traffic, it can make it difficult for people to find parking.

If you’re considering the best location for your business, be sure to think about the above points. A location that’s too expensive can be a big mistake if you want to focus on growth, while a location that’s nowhere near your customers will make it difficult for you to reach them.

How to do that? We have some tips for you – so read on and find out more.

Cut the expenses you really don’t need

Do you really need a Hulu and a Netflix subscription? How about that Spotify premium? It may seem that you’re actually using all the recurring purchases you make every month, and given that they’re all relatively low-priced, it can feel that you’re not even spending that much on everything.

However, when you pile them up, you will realize you’re spending up to $100 (if not more) on all the subscriptions you don’t actually use on a daily basis. Is that worth it? Probably not – your bank account will look a lot better with all the money in it, instead of allowing it to fly off every month (and not even getting the value you hope for).

Be smart about your meals

Food is one of the largest monthly bills – and it’s not something you can actually skip. While you may be able to live with a less HD Netflix subscription, living without food is, well, impossible.

What you can do, however, is be a lot smarter with the way you spend your food money. For once, eating out is a bad idea from multiple points of view: it’s expensive and unhealthy. Instead of take outs and constantly ordering food, why not make your own? With so many resources available online, you don’t even have to be a master chef to cook amazing foods for low prices.

Furthermore, the way you do your grocery shopping can also affect your spending. Pay attention to the prices you pay for the food, buy in bulk, cook in bulk (and then freeze), and generally try to buy smart (e.g. it’s actually best to buy an expensive olive oil because it will bring value into your kitchen and it can transform even the most basic salad into something delicious).

Shop around for services

Your phone bill, your bank fees, and everything in between can all account to hundreds of dollars every month. That sounds very sad, but the great news is that you can actually save a lot of money by simply shopping around. You can always find better insurance, better Internet, and a better bank – and they will be happy to make you a better offer simply because they want you as their client. Believe it or not, you can save tons of money every month this way – and it can all add up to your savings (thus, improving your financial health).

We’re not saying it’s easy to save money – but it can be done as long as you actually WANT to do this!

The way you perceive money will make or break your success in achieving your dreams – so, before you even get down to a financial plan that will allow you to live the life you want, it is important to change your money mindset.

What are 5 of the best tips for a good money mindset? We have gathered them right below – so read on and find out more.

Accept where you currently are

Whether it’s student loans that give you nightmares or simply the fact that you are at a point where you’re not making enough money to live the life you truly want, accept where you currently are. Accept any mistakes you may have made and which have led you here.

And most importantly, forgive yourself if you think it’s your fault.

Start your new money making journey with a positive attitude – one that involves YOU as you are, with your history, and your mistakes. Accept yourself, your background and every small decision that led you unto this path. Accept it all

Be grateful for who you are

If you didn’t make any mistakes, if the people around you wouldn’t have supported you in the very bad times, if life hadn’t thrown your way obstacles, you wouldn’t be the one you are today.

Be grateful for who you are and what you have at the moment – however little it may be.

Be grateful for being a strong person who has made it thus far and who is ready to push their boundaries into a whole new chapter of their lives.

Be grateful for everyone in your life. They helped mold the strong person you are today.

Get rid of the “no can’t do” attitude

Truth be told, there are just a few things people cannot do – and even there, it’s only a matter of time until we will be able to actually do it.

You make no exception from mankind. And if you ever doubt yourself, think of this: 200 years ago, people laughed at those who thought we could once fly. And here we are today, flying low-cost within the same continent for as little as $50.

You can do it. You can get out of debt, you can make more money, you can be an entrepreneur – you can do whatever makes you happy.

Because you deserve it and because you are strong and because you are changing your entire mindset, adopting a positive attitude towards money and everything you want in life.

Declutter your life

The endless bills, the clothes you haven’t yet packed to arrange in your wardrobe, the pairs of jeans from high-school you still hope to fit into “soon” – get rid of everything that’s causing clutter in your life, be it physical or just thoughts that come back to haunt you.

It’s time to step into your new life now!

And yet, our monthly food bills can reach enormous numbers – and if you don’t pay a bit of attention, food can actually push you over the budget.

How to cut your food bill safely and still get all the nutrients (and deliciousness!) you need? We have some tips for you – so read on and find out more.

Do your grocery shopping list

It may sound very basic, but a shopping list can be a life saver when you go out to do your grocery shopping. Track what you already have in house with a simple spreadsheet and mark down the items you’re missing out on – then, go out and only buy what you actually need.

Going out without a grocery shopping list can very easily push you over your budget, making you buy items that are neither healthy, nor useful for your dietary intake. At the same time, sticking to a list will help you focus on the foods you actually need, on the foods that are good for you, and on the best prices for those foods.

Stop eating out

It’s fine to eat out every now and again, to celebrate an important moment or simply pamper yourself. However, doing it on a regular basis can push your food spending way over the limit. Cooking your meals at home doesn’t have to be a chore, it can be really easy and it can be very fun as well – not to mention it’s way healthier than eating take-out dinners every night.

Plan ahead

It may not sound like fun, but planning your meals ahead can really help you stick to a budget. Doing this will help you buy and cook in bulk, which is always cheaper than actually buying smaller portions and cooking them. Plus, it will help you avoid eating out – if you have your meals prepped, it will be actually easy to go home and just heat them up.

Drink more water

Not only is this a lot healthier, but it’s cheaper as well. Soda doesn’t come at a huge price, but when you do the math at the end of the month, you will see you can save quite the sum of money if you simply switch to plain, good-old-fashioned water.

Pay attention to special offers

Special offers, discounts, and coupons can save you a lot of money – but it’s also important to pay attention to the difference between real offers and fake ones. Keep your eyes on the prices on a regular basis and “hunt” down those food offers and discounts that are actually worth it. Also, keep in mind that you shouldn’t buy items just because they’re on offer – buy them if you need them, or if you know you will need them in the future (and they won’t be expired by then, of course).

That doesn’t mean you have to be horrified by the amount of money you’re paying for your electricity bill every month. There are plenty of things you can do to make sure you save as much money as possible on this! Following, we have gathered five of the best ways to save money on electricity – so read on and find out more.

Invest in a good thermostat and learn to set it correctly

Did you know that every degree over what’s needed can add as much as 10% to the electricity bill? This is not always the case; it depends on a variety of circumstances. However, do you really want to risk that? Setting your thermostat to the right temperature will help you stay comfortable and save money at the same time.

Moreover, if you can invest in a smart thermostat, you will save yourself the trouble of setting it up every time. This type of devices will actually know the right temperature, and they will adjust it in a way that offers you the comfort you need when you are home.

Use cold water when washing the clothes

Contrary to the common belief, warm water doesn’t necessarily wash your clothes better. For most of your clothes, you can use cold water, since they really don’t need all the heat. Doing this can save you more than $100 every year – and it’s just one of the small things you can do to lower your electricity bill.

Use less electricity in the kitchen

You may not be fully aware of this, but your kitchen is probably using a lot of electricity. For starters, you should make sure your refrigerator is functioning correctly, in the right parameters. Furthermore, you should also try to use the microwave when you can – despite what you may be tempted to believe, it actually uses less electricity than your oven.

Moreover, the small things (such as thawing the meats in the refrigerator) can also save you plenty of money – so it’s really important to just be aware of these small actions you take on a regular basis in the kitchen, and then adjust them to a more energy-friendly alternative.

Line dry your clothes

This is very common in many parts of the world, and it can actually preserve your clothes’ life as well. Again, it’s a simple, easy, and small thing you can do – it won’t be as fast as using the dryer, but if you can avoid that, why not do it? It will save you A LOT of money every month!

Change your electricity service

Most people stick to the same electricity service provider all their lives (or at least until they move homes) – but did you know you can actually shop around for better AND less expensive service? Keep in mind: you shouldn’t make this change blindly! Do your research, analyze the different services available, and settle on that which suits your needs…and your budget!

What are the 3 debt mindsets that are unhealthiest? We have some tips for you – so read on and find out more.

Postponing your finances for tomorrow

“I will analyze my finances tomorrow”, “I don’t have the time to do this today”, “I’m really not in the mood to do this today” – these are just some of the variants that could go through your head. However, this type of mindset can be one of the most harmful ones when it comes to paying off debt and getting your finances back on the floating line.

Why?

Because postponing for tomorrow means you will postpone it from tomorrow to the day after that, and then the one after that, and the one after that – until you will eventually end up in a situation that’s much worse than where you were to begin with. It’s an endless loop that needs to end today – not tomorrow, not next week, not next month. The more you postpone dealing with this, the harder it will be to actually get out of debt.

Losing all hope it will ever get OK

This stands true for any process that involves change, and not just getting out of debt and putting your finances in order: it is very important to NOT lose hope.

We won’t lie – it will not always be easy. It will not always work the way you initially planned. And it will sometimes be downright tempting to go back to your old ways and say your change efforts are useless anyway.

Don’t do that. Stick to your plan through thin and thick. You’ll thank yourself when you get to the other side.

Cutting down on EVERYTHING

OK, getting out of debt means you will have to cut down costs in many areas of your life. However, it is not entirely limited to that. Simply cutting down on food, on the way you live, cutting down entertainment altogether and making your life feel miserable will make you end up where you began: in debt, feeling emotionally drained, not very hopeful about the future.

It is thus very important to know what can be cut down and how much. It is important not to leave out every single little thing that brings pleasure in life – like that pizza you love. Don’t take it out of your life entirely – just limit its presence – like getting that pizza once in a two weeks’ time instead of twice a week.

Moreover, consider adding multiple streams of income to your house. This is a surefire way to pay more off your debt without completely sacrificing every single thing you like doing. It won’t be easy, but it is more than doable.

However, regardless of how little or how much you earn every month, money saving IS very much possible. It all lies in your determination and what you are willing to do to make it happen.

How to start saving more money and boost up the process, so that you actually see the results as soon as possible? We have some tips for you – so read on and find out more.

Pay more attention to what and how you eat

It may not seem so, but your food bill is probably making for a large percentage of your monthly spending. Unfortunately, you cannot just stop eating – but you can do a lot of things to optimize the way you eat, so that you get all the nutrients you need, stay healthier, and still save money.

Some of the things you can do include:

• Using a grocery shopping list or app;
• Planning your meals one week in advance;
• Buying and cooking food in bulk;
• Making the most out of your coupons (they may not seem like much, but they can save plenty when used the right way);
• Avoiding eating out and take-outs;
• Buying from local farmers instead of the supermarket;
• Knowing which premium ingredients are worth it and which aren’t.

Make it a recurrent payment

Most online banking tools allow you to make recurrent payments. This way, when you get your monthly paycheck, a sum of money can go into a bank account of your choice. This is a great idea because it will force you to live within certain spending limits.

Don’t be unrealistic about it, though. Set up a sum of money to be transferred to your savings account, but make sure you’ve still got enough to live decently until your next paycheck. It may be a bit more difficult to accommodate to a new spending limit every month – but you’ll start seeing more money in your savings account after a couple of months, and you will see that it was all worth it.

To help you stick to this, set up a clear goal (e.g. visiting a place you always wanted to see using the money you’ve been saving up for one year). It does help A LOT!

Get rid of all the unnecessary expenses

You may not feel that you’re overspending, but there are a lot of things you spend a lot of money on, every month, without even realizing it. Simply sticking to the same Internet provider or electricity provider can make your bill higher. Paying for subscriptions you’re not actually using can also pile up. Buying things just because they’re on offer can add up to your spending as well.

If you put down all of these things, you will see that you can save hundreds of dollars, every month, by simply not doing things you’ve been doing wrong!

What are the credit card mistakes you really, really need to avoid if you want good financial health? We have gathered some of the most important tips to help you with this – so read on if you want to find out more.

Having too many credit cards

One credit card is OK – one too many is definitely not. Opening and closing credit card accounts when you’re tempted by the different reward systems credit card companies offer is not a solution in any way. On the contrary, it can hurt your credit score.

Even more, keeping more than one credit card can also hurt your credit score – and it can make it more troublesome to actually manage your finances correctly.

Not paying off every month

Although credit card companies allow customers to make a minimum payment every month, this is not necessarily great in any way. In fact, it will only make you end up in more debt because these monthly minimums come with huge interest rates – and whatever’s left to pay will be charged with the same interest rate as well.

Make sure you pay your credit card bill before the due date, so that the money is in the account exactly when you need it to be – not even one day later, as even that can add extra-fees to your bill.

Not checking your bill

Although it can be a tedious process to thoroughly check your credit card bill, it is very important that you do it. Human error could lead to an extra charge on your credit card bill and it is crucial that you dispute this in due time to make sure you will not be left charged with a sum of money you don’t actually own. Yes, it does take some time to check every single transaction on your credit card – but it can and SHOULD be done.

Use it to live beyond your means

Having a credit card doesn’t mean you get to have free money. They may give you a limit that’s higher than your monthly salary – but that doesn’t mean you should actually use it. Sure, that shiny new TV looks awesome now and you can definitely walk away paying it with your credit card – but are you really ready to pay the bill in full at the end of the next month?

Probably not – and this is why it is really important to know how to live within your means. It’s always better to SAVE money, rather than take loans – so get down to business and make a financial plan that will not get you in MORE debt, but actually help you live better without breaking the bank.