ever think those little star ratings you see online could actually affect how much a business is worth not really to be honest I know right sounds kind of wild but we're going deep on that today those Google business profile reviews like when you're picking a restaurant exactly but it gets way more interesting when we're talking about like selling a business huge financial decisions so how do those reviews actually like change a company's value okay so imagine right you're trying to figure out what a company is worth you've got all the financial right you're looking at their future their cash flow and then bam you see hundreds of reviews exactly it's like this extra layer of information from real customers Straight From the Source telling you how the business is actually doing so those good reviews they mean more money they can yeah think about it positive reviews mean happy customers happy customers keep coming back exactly they spend more and that makes the business look good to someone who might buy it exactly it's like proof that the business is healthy and growing and there's research showing that businesses with lots of good reviews can actually be worth more like way more how much more are we talking sometimes even 10% higher waa but isn't it kind of fishy if a business only has Perfect reviews that's a really good point like no one's perfect right a few negative reviews can actually make the whole thing seem more real more authentic exactly what's important is like the bigger picture what are people saying overall right are there like pattern and the complaints are they addressing them so it's not just about the Stars it's about the story they're telling totally if a business is responding to those reviews fixing problems showing they care that's a good sign it tells a buyer that they know what they're doing like they care about their customers exactly which is huge it's like a window into how the business is run and this isn't just about selling by the way think about lenders Partners even people looking for jobs they look at reviews too so those reviews are like a business card kind of yeah they show your reputation how you treat people and that matters it has real value okay so I own a business what do I do with all this first off don't be afraid to ask for reviews especially from your happy customers make it easy for them right and when you get reviews respond good or bad it shows you're listening engage with them exactly and with those negative reviews don't just brush them off address the problem head on show you're trying to improve that shows potential buyers you're serious about customer satisfaction which can make a big difference in how they see your business so those little stars aren't so little after all no they can make a break a deal really can so everyone listening whether you're buying selling or just a customer pay attention to those reviews they tell a story they might just surprise you you never know what you'll find and that's it for our Deep dive today see you next time
