We’ve all heard the famous quote: 

“Never put off till tomorrow what you can do today.”

 This was made famous by the 3rd US President, Thomas Jefferson.  In all parts of life, this message can hold true………but let’s manipulate it in our favor a bit and focus on its implications in today’s business world.  More specifically, let’s get past the employees, customers and vendors and concentrate solely on the business owner.

“Never put off a business valuation till tomorrow when you can do it today.”  I think this will become our new tag line at FairMarketValuations.com.

Figuratively speaking, all business owners have years left in their gas tanks.  The business is alive & well, their health is good and the business is buzzing along.  Why do a business appraisal now?  Why not wait until we’re ready to sell or exit? 

The primary reasons business owners sell their businesses are due to burnout, health problems and/or an illness in their immediate families.  It is times like these when a previously conducted business valuation can be a fail safe.  Not only is the business owner already knowledgeable of their fair market value, but odds are that since the valuation was finished the business owner has strategically managed the business to increase its value!  The business valuation process allows an owner to learn more about their business, identify key value drivers, and plan for the future. 

The forward-thinking business owner who knows the value of their business and what factors influence its value will operate their business with a new mentality.  They consciously decided NOT to put their business off till tomorrow and took action before it was too late.  When this savvy leader reaches an impasse and realizes that it’s time to sell, they will most likely receive a higher purchase price than before and can act with confidence as opposed to desperation.