First time business owners can relate to the feeling of owning a business is akin to having your first baby. It becomes their source of pride and for most, an obsession.You spend so much time conceptualizing the business, making business plans, picking out a product, allocating people and so much more. After you've established all that, it's time to get down to the nitty-gritty and work on the day to day operations.As time passes you become fonder of the business and in effect you and the business become identified as one ...
Read More
First time business owners can relate to the feeling of owning a business is akin to having your first baby. It becomes their source of pride and for most, an obsession.You spend so much time conceptualizing the business, making business plans, picking out a product, allocating people and so much more. After you've established all that, it's time to get down to the nitty-gritty and work on the day to day operations.As time passes you become fonder of the business and in effect you and the business become identified as one entity. This has also led to the blurring of the lines between the separation of the business owner and the business. As such, it has led many business owners to make decisions which are not economically sound. Making such decisions may prove detrimental to your business.Just recently, there have been changes in the economy which have forced many business owners to abandon their posts and either return to the work force, or pursue a different type of business. Some business owners have held on tenaciously to their business and in the end failed to revive it, leading to major losses. Still, others have made the decision to sell their business at an incorrect value which may lead to major losses or dissatisfied buyers.This has led to an increase in a need for business valuators. Business valuators assess a company's total worth and assist in placing a proper price tag for both the seller and the buyer. There is a science involved in performing this task and may be done over a period of a couple of days or several months depending on the amount of data available for them to work on. Now this type of service does not come cheap. Business valuators often end up taking a percentage of the total sale price from the seller. This book will help you assess your business' value without depending entirely on your business valuator.There are simple action steps that you can perform on your own business. And whether you intend to sell or not, this book will help you place a proper value on your business and see it for what it truly is: as an income generation machine.Take note: this does not mean you can totally do away with your business valuator's services but it can help you understand your business more from a valuator's standpoint.
Read Less
