Last month we talked about finding opportunity in times of crisis, such as COVID-19. Before this pandemic struck, most business owners would admit it was difficult to find time to work on strategic planning for their business, including thinking about their business as an investment. When it comes to thinking about how to grow their businessRead More…
People like to think you can take some number off a company’s income statement, multiply it by some number between 3 and 7 and get a reliable conclusion of value for the business. While this DOES provide the answer to a mathematical equation, it does NOT provide the answer to “What is the value ofRead More…
We were recently working with a successful Wisconsin business owner who has been working on his succession plan. During our initial meeting he was surprised to learn that every business has more than one value depending upon who the buyer is. He lamented he had no knowledge or experience in thinking through the different typesRead More…
Dear Cathy, What would you say are the key ways to build value in a family owned business? I find myself so busy every day and yet my company’s revenue growth has been stagnant despite my industry’s moderate growth trends. We are in the packaging industry and the company has been in my family forRead More…
Dear Cathy, I am the owner of a car dealership with 2 locations, and I find it stressful that I can’t answer the simple question “what is my business worth?” I need to know this as I plan for location expansion and insurance purposes. Frankly, I have hesitated to reach out to someone because unlikeRead More…
The Story Behind the Numbers . . . Dear Cathy, I have 100% ownership of a third-generation plastics manufacturing facility. My 58th birthday is coming up and that has me really thinking about what comes next for the business after I retire…or I should say so that I can retire in the foreseeable future. IRead More…
Dear Cathy, I’ve owned a plumbing business for 20 years. As I work with my financial planner on retirement planning, I need to gain a better understanding about the value of my business. A little background: I am a licensed plumber and do not have any employees, but my wife takes care of the businessRead More…
Dear Cathy, I am a 56-year-old owner of a 2nd generation manufacturing business. I have read about people getting business valuations and I’m interested to understand why I should look at doing this? Sincerely, Jim Jim, Thank you for your question! Some people are forced to have their business valued due to the death ofRead More…