Your business likely represents the largest portion of your net worth. With that in mind, it makes sense to consult with a professional advisor who can learn about your business and give you thoughts on how to prepare your business for a future sale.
Here at Viking, that is precisely what we do.
We have written at length about what business brokers do and the reasons to secure professional representation when selling your business. But, the benefits of a professional advisor reach beyond the selling process, well before a sale becomes imminent.
Even if a sale is not on the immediate horizon, knowing where your business stands today will help you plan for your future.
How does a business advisor help you plan ahead?
A professional business advisor can help you plan for the future by consulting with you on the following areas, which can take time to improve and see optimum value:
Management Team
As professional advisors, we would like to learn more about your management team. Who can take over what you do?
Client Relationships
What is the dynamic of your business’s client relationships? Are most of the major client relationships primarily between you and them?
Customer Concentration
We will look at your customer concentration; for example, what percent of sales do your top customers represent, and how many customers does the company work with?
Seller’s Benefit and Non-Recurring Expenses
Let us show you how much we can increase your future selling price if you start minimizing non-recurring expenses and classifying business expenses correctly through your business now.
These four areas in particular can play a significant role in maximizing the value of your business. Measurable improvement can take some time. We help business owners identify these opportunities early, while there is time to make important adjustments and for those adjustments to add measurable value.
We would love to discuss your business with you and see what opportunities you may have to increase your company’s value before it’s time to sell. Call us today for a confidential consultation.
