Quality business does not come from quality business appraisal reports. That’s the starting point. Quality business comes from developing reputations (personally and for our firms), building a brand (through longevity, specialization, size, etc.), and developing and maintaining quality relationships (those that can bring or refer quality business).
Differences in standards of value between appraisers (yes, it happens), or differences in interpretation of what a particular standard of value means, can create enormous and seemingly irreconcilable differences in conclusions.
At less than 300 pages I tell colleagues Business Valuation: An Integrated Theory, 2nd Edition is to the valuation community what Harvey Penick’s Little Red Book was to the golfing community.
“Given my experience as an attorney working with business appraisers and reviewing business appraisal reports, and the frustration that sometimes was caused because of the seemingly divergent practices of business appraisers, I sensed the need for a resource for people like me – people who were NOT appraisers but needed to better understand business appraisal theory, appraisal standards, and the issues present in the business appraisal profession.”
Together, Paul Hood and Tim Lee have tackled what so many have talked about for years but have been either unable or unwilling to do—present basic valuation theory along with practical lessons and tips to aid users of business valuation reports make sense of the report. A Reviewer’s Handbook to Business Valuation is a welcome addition to the business valuation profession.
The International Valuation Standards Board (IVSB), a board of the International Valuation StandCards Council (IVSC) met in public meeting format on May 4-5, 2011 in London. Richard Berkemeier, ASA (machinery & technical specialties) and Chris Mercer (that’s me) (business valuation, of course) were attending and representing the American Society of Appraisers. While there was a […]
Today’s guest post is by Lee Frederiksen, Ph.D. of Hinge Marketing, a leading branding and marketing firm specializing in the professional services. In addition to being Hinge’s Managing Partner, Lee is also its chief strategist and growth expert.
In this post, valuation concepts are applied to professional services firms.
According to The Trust Advisor Blog, Alaska, Delaware, Nevada and South Dakota remain the top states for establishing trusts. My home state of Tennessee is in the second tier of states with favorable trust powers. This list is reproduced from the blog. The table provides three tiers of states based on relative attractiveness for trusts. […]
…We were seeing a self-reinforcing pattern that allowed companies to sustain rapid growth and dramatically increase value. We began referring to this happy pattern as spiraling up
