As a business owner, I am sure you can relate to the shuffle of getting organized before the “auditor” arrives. Even if you are the most organized person in the world, something is usually out of place somewhere and can use a little tweaking to obtain a more professional appearance.
How much tweaking needs to be done before you can present your business to potential buyers? If your business finances are disorganized, other areas of your business are probably disorganized as well. Even if your financial reporting is disjointed, there is hope.
An investment banker is in the business of organized business sales. He has helped countless businesses uncover their value and present it in the most profitable way. His goal is to increase your company’s profits to achieve the highest sales price possible as he guides you through the process of identifying what types of reports are mission critical.
Once you have obtained the expertise of an investment banker, you can continue to focus on what you do best, managing your company. You can consider your newly acquired professional assistant your partner. You are both working towards the goal of the successfully valuing and eventually selling your business.
It is a proven fact that organization brings about higher productivity and higher productivity can equate to a better overall business value. The methods you use to achieve this productivity are your own choice. Maybe you will only implement enough change in your company to create organization in your company’s financial reporting. Conversely, maybe once you see the profitability of organization you will apply the principal throughout all aspects of your company.
Whichever road you choose, organization will always be a part of your sales and management strategy. Whether you hire professionals to lighten the workload and diminish your direct input or work through the process yourself, organization is an important key to your success.
Mark Jordan is the managing principal of VERCOR, an investment bank that creates liquidity for middle market business owners. He is the author of Enhancing Your Business Value…The Climb to the Top, Selling Your Business The Hard Easy Way and co-author of The Business Sale…A Business Owner’s Most Perilous Expedition. He is also the author of numerous articles. For more information email him or visit www.vercoradvisor.com.
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