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How does your business rate in our community?
February 20, 2009 |
In today's economy your company could be valued more or less than you actually think.
Ask yourself these questions:
1. Do I really know what my business is worth?
2. Do I know what factors drive the value of my business?
3. What things should I be doing right now that will influence the value I receive when it’s time to retire or sell?
4. How is my health and will that impact when I need to sell my business?
5. Is my business capable of operating without me?
6. Have I had a professional business valuation prepared recently?
It helps if you think about your family business as an investment just as you would your shares in BCE or your GIC’s. The sale of a business is almost always a very emotional ordeal for owner/managers and, as we can all probably attest, emotion is not always helpful to us in reaching sound business decisions.
Our experience is that owners frequently think of their business “as their baby” because of the years of work (sweat and tears), nurturing and growing the business. The business, whether we want to admit it or not, has wound its way through our lives and impacts on almost everything we have done since we started it.
However, you need to keep in mind that there are some big differences between your business and publicly traded shares beyond the emotional issues. You need to know that two of the biggest differences are:
1. There may not be a ready market for your company, and
2. The market price for your business can vary significantly depending on the purchaser you are able to attract.
We can help you with this so that you know where your business is at in today's economy, the value that this community puts in "your baby". Come talk to one of our specialists, Harvey Labuhn•CBV, or James Nakashima, CA so we can help you and give you peace of mind for the future. |
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One thing you can't recycle is wasted time. 