Business Financial Security: Priceless
This little known business problem can ruin the business owner's financial security. Baby Boom-treneurs are beginning to face life-changing business decisions, and often learn of the problem once it's too late.
(PRWEB) September 4, 2004 -- The stock market values go up and down while
business owners are busting their tails to grow their private
businesses--without ever knowing the VALUE of their own business! If you are a
business owner, do you wish to sell your business for what you want? (Or, for
what you NEED in the event of an emergency?)
Many business owners do not
know the first thing about increasing and maintaining the values of their
businesses. Yet, the business could be (or could become) the most valuable asset
the owner has! Up until now, many business owners have thought very little about
the real value of their businesses. Overlooking and ignoring the market value of
one's business is a huge problem that could cost business owners trillions of
dollars over the next decade.
A vast number of baby boomer business
owners (Boom-treneurs) will be retiring within the next eleven years.
Unfortunately, most will NOT be properly prepared to sell their business for the
best and highest price. In fact, some will not be able to sell their business at
all. This impending tragedy can be averted if the owners know what to
do.
CPA and Business Broker Grover Rutter offers the following advice to
all business owners:
1) Keep good financial records for your
business
2) Hire a CPA (not a bookkeeper) for financial report
preparation--because it adds credibility to your business.
3) Ask your
CPA to prepare EBITDA Schedules for your business, at least annually.
4)
Consider having non-tax basis financial statements prepared annually, rather
than financial statements that only show taxable profits.
5) Learn how a
potential buyer of your business would perceive your business
establishment.
6) Determine if YOU would buy your business if YOU were
looking to purchase a business. If the answer is no, then why not? (This might
be the same reason someone else wouldn't purchase it. Maybe this is something
that can be fixed.)
7) Have your business valued for sale purposes, at
least every three or four years. (For this, you should hire a professional with
recognized valuation credentials. This is a great investment that you should not
overlook.) You can then monitor the increase or decrease in values, to determine
if your management policies are working. The market value of your business is
the true measure of your business.
Mr. Rutter has dozens of suggestions
on how you can improve your business and how you can prepare it to be a
marketable entity. Many business owners think this information is important only
when they get ready to sell. Nothing is further from the truth!
"I've
seen too many cases where a business owner dies, or their health goes South, and
the business needs to be sold in a hurry," Rutter says.
"When the
unexpected happens, most family owned businesses just aren't prepared. And that
situtation turns into a financial disaster."
Based upon his experiences,
Mr. Rutter believes that many Boom-treneurs are going to be in for a nasty
surprise unless they begin to properly prepare their businesses. He wanted to
find a low cost method of telling business owners what they should be doing. (As
a CPA he knows that most CPAs seldom address this important issue with their
clients.) So, he wrote a special business guide entitled: Your Business IS Your
Goldmine! (Learn HOW to get the MOST Out of Your Business)
Mr. Rutter has
written many business and valuation related articles that have appeared in a
variety of professional and business publications. Now, his intent is to help
educate the common business person about what they need to do to improve their
financial resources. He is attempting to communicate an extemely important
message to business owners. "My message is one that is not often given by CPAs
or tax advisors. But the message is priceless," Rutter says.
For anyone
interested, this tax deductible guide can be found at www.Lulu.com/businessadvisor ;
Here are a few of the rave reviews given to this new business
guide:
"I found the book to be a veritable “heat seeking missle”, it
immediately homed in on the salient and most important issues facing business
owners and the often times missed opportunities. I can easily say that I would
recommend this book and the sage advice given. In short it was most helpful,
even to an old hand like me."
Michael E. Mason, CPA,CFP,CVA,CFFA -
Forensic CPAs,LLC
"Grover Rutter has a must read for the busy
entrepreneur. He has taken a “common sense” approach to showing any business
person how to maximize the profitability of their business."
Corey
Poitier
"I found the book easy to read and understand and full of useful
information. I am recommeding it to my clients." Frank Rosillo, CPA
"As
the co-owner of a family run computer consulting business, this book will teach
us what we need to know to grow the value of our business for our children.
Grover Rutter not only knows of what he speaks, but his message and wisdom are
sound." Jody Noble
Grover Rutter is an interesting public speaker and
also available for interviews on talk radio and television talk shows. Grover
Rutter can educate business owners how to prevent "The Great American Dream" of
owning one's own business--from becoming a nightmare.
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Source : http://www.prweb.com/releases/2004/10/prweb160223.htm