Build Business Value
BUILD BUSINESS VALUE
Take Action Now, Increase the Value of your Business, Get the Most when you Sell
Build Business Value will give you an overview of steps you can begin taking today to build the valuable business you want.
The book does not tell you how to make and sell your product or how to deliver your service - I assume you know how to do all that. The bedrock on which business value rests is that of an excellent product or service, competently delivered, and having a competitive advantage in price, service, or quality.
Instead, this book tells you how to make decisions about the business that will enhance long term value, in lieu of reducing taxes and taking out cash.
There is nothing wrong with operating your business with a goal of reducing taxes and taking out as much cash as you can along the way. But understand that operating the business in this manner will not increase the value of the business over time as much, and if you want to sell the business later, the value will be much lower.
"You can take the value out now, or build value for later, but it's hard to do both."
In the Appendices, I include an Accounting for Entrepreneurs section that lays out the basic financial reports and analysis you may encounter and gives you some very basic tips for interpreting those documents. Any entrepreneur who is intent on building value needs to be conversant with these financial reports and analysis tools.
It is important that you understand how to read these financial reports and basic analysis and understand how others - bankers and buyers - will read them. These financial statements are the lenses through which a lender or acquirer will view your business. By understanding them you can see how the steps in this book will affect value, you can monitor your business' progress along the way, and you can better evaluate the advice your professionals will give you along the way.
Scott Pfeiffer helps busy tech entrepreneurs add value to their businesses by leading regular, structured strategy planning sessions with them and their management teams. Teams will come to a better, mutual understanding of the goals and vision of the business, and the path forward to reaching those goals.
Scott also helps partners create a shared vision and a positive working relationship where everyone is committed, where regular communication is fostered, where they work to find consensus, and where they are open to and manage change. Those conversations are often easier with a third party to intermediate. Scott helps partners have those difficult conversations and he can help you to as well.
All business owners can use help setting strategic goals and creating better business operations to help achieve those goals. It is very easy for small business owners to get bogged down in the day-to-day bustle and allow weeks, months, or even years to go by without taking time to reflect on long-term objectives and how to achieve them. Scott enjoys taking regular time to meet with his clients and help them pay attention to strategy. Just thinking about goals and measuring progress can have amazing results.
Visit him online at: www.linkedin.com/in/scottpfeiffer