owner in control of his or her largest most valuable asset.

If the value outcome

isn’t what is desired, the owner is now in a position of control and can therefore
make strategic changes to increase the value. Just because a company’s sales
or gross profit are increasing doesn’t necessarily mean its value is increasing.
Regular business valuations provide owners with a real-time “report card,”
tracking changes in business value to identify and eliminate value inhibiting and
destructive behaviors that often appear to be “business as usual.” As a general
rule, a valuation should be updated approximately every one to two years, or
under the following conditions: A) When a significant change in assets occurs
(e.g., the company makes a substantial investment in equipment or other
tangible assets, or sales change notably); B) When tax laws change; and C) When
intentions change— either for personal reasons (marriage, divorce) or for
professional reasons (bringing in new shareholders, or buying out or rewarding
key employees). Business owners should engage only a credentialed and
unbiased valuation expert who has extensive experience valuing companies
within the particular industry.
Ignore The Competition: If you are not watching what competitors are doing w