Do You Know What Goodwill Is?
Do You Know What Goodwill Is? I have a client who was discussing the value of her business with a family member. The family member asked her why there was no Goodwill on her balance sheet – that surely her business value would be higher if she were to include that. She posed that question …
How important is it to hire a qualified bookkeeper
And how do you know if you have a good one? Finding and Keeping the Right Bookkeeper – what you need and how to find it Why is it important? For business owners it is important to know that your financial records are being accurately maintained. Not all bookkeepers have equal skills. Some are much …
What’s Next for Your Successful Business?
Now what do you do? You’ve spent years building your business to be financially successful and personally fulfilling. Now that you have achieved that, what happens next? How long do you plan to continue to work? Who will take over your business when you no longer want to be involved every day? If you don’t …
Business valuation
Why is Business Valuation Something You Need to Think About? What is your business worth? How is it valued? Whether you are thinking of buying a business, selling a business, or planning ahead to sell your business at a future point, knowing what the business is worth is an important first step. The value of …
Year End Planning Checklist
Don’t forget any of the details! The end of the year brings extra work for your business’ financial team. The additional year end requirements of wrapping up one year and starting the next can be overwhelming. This checklist will help keep you on track through this very busy time of year. Do you have the …
Business start up checklist
The logistics of getting started When you get ready to start a new business there are many tactical details necessary to get the business set up and formed. Many of these are easy things to do, but require time, effort, and information. I hope that the following list will help you find the resources you …
Buyer Beware
Buyer Beware – and Become Informed A Buyer’s Guide to Business Valuation You have often heard the term “let the buyer beware.” This statement summarizes the concept that a purchaser must examine, judge, and test a product considered for purchase himself or herself rather than relying on the seller to represent the product. If you …
Marketability Discount in a Business Valuation
During a recent meeting to finalize a valuation engagement, my client asked me what could be done to reduce or eliminate the marketability discount. The quick answer is “nothing.” Then I had to explain why. After this experience, I realized that many business owners have this question, but most don’t ask. The Discount for Lack …
Budget Development and Management
What is a budget? There are several uses for a budget. It can be used as an internal planning tool, a management tool, and as an external projection of operations as part of a plan to secure financing. A budget is a plan or a financial roadmap that provides the financial support for your business …
