Five Ways Financial Management Improves Your Business’s Value

Five Ways Financial Management Improves Your Business’s Value

Poor financial management can manifest itself in many ways, but the price is always the same: the value of your business.

Odds are, as the owner of your business you are a strategist, visionary, and leader. But you likely don’t have the bandwidth to manage the complexities of your business’s finances.

But not to worry! We’ve outlined 5 ways financial management will improve your business’s value.

How To Avoid the Biggest Valuation Mistake Made by Business Owners 

How To Avoid the Biggest Valuation Mistake Made by Business Owners 

You’ve been working on the sale of your business for months now. All the work, not just to complete this sale but to build a business someone else actually wants to buy, is about to pay off.

You hold your breath as the sales agent slides a piece of paper across the desk towards you…with a number completely different than you’d negotiated!

“As you know, we did a final business valuation last week to determine the final sale price for the closing today,” she explains. “After reviewing all of your records, we have determined that the value decreased from our initial estimate a year ago. As a result, the sale price will be 25% lower than we originally planned.”

What happened to the profitable sale you worked so hard for?!

How To Prepare for a Strong Business Valuation 

How To Prepare for a Strong Business Valuation 

You’ve been reading our series and have decided to do some exit planning. You’ve audited your time, started planning for your free time, and have an idea how much money you’ll need for the next chapter. Now it’s time to find out what your business is worth now, so you can create a plan to get it to the value you need it to be. This week’s article shares the information you need to gather for a professional valuation, and what to do if you don’t have that information ready.