(PRWEB) October 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 http://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 Âheat seeking missleÂ, 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 -
"Grover Rutter has a must read for the busy entrepreneur. He has taken a Âcommon senseÂ approach to showing any business person how to maximize the profitability of their business."
"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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