How to Leverage Social Networks to Help Sell Your Hotel
By Mike Handelsman Group General Manager, BizBuySell.com | December 26, 2010
These days the term "social networking" is everywhere. People across industries and locations are turning to communities – both online and offline – for help with everything from finding a job to discussing personal interests and hobbies, to just seeking advice. While social networking seems to have become universally popular, most individuals still haven't tapped into the benefits it can offer when selling a business. Have you been thinking of putting your hotel on the market? Then you won't want to underestimate the power of social networking to help you through the process and increase your chances of a quick, successful sale. There is a wealth of information out there that can help you succeed. If you put in the time and effort to leverage these networks it can pay off in spades. Here are some of the most useful resources to keep in mind:
Take Advantage of Small Business Organizations
When selling any type of small business, some of the most helpful resources available to you are organizations designed to guide sellers through the various stages and challenges of owning a business. It's no secret that selling a business can be a difficult task, but these types of groups are ready and willing to assist.
SCORE, "The Counselors of America's Small Business Owners," (www.score.org ) has 364 chapters across the U.S. that can connect area business owners to personal business coaches for guidance. The organization thrives on the efforts of volunteers, so its services are free and confidential. In many cases, there's no better assistance than that of someone who has been in the same shoes and can advise you based on their experiences. In addition to these personal coaches, SCORE offers free online workshops and advice articles, which can also be incredibly useful throughout the process. The following SCORE article, for example, outlines 12 crucial steps to selling a small business: http://www.score.org/sell_business_12_steps.html.
In addition, don't forget that the United States Small Business Administration (SBA) offers resources specifically aimed at guiding business owners through the selling process. The first place to turn is the section on the SBA's Web site devoted to critical information you need to know about selling, such as an overview on seller financing, key information for sales agreements, business pricing techniques and methods for locating buyers. You can view these resources at:
Use Social Networking Sites & Online Communities