Business Valuation For Dummies by Lisa Holton & Jim Bates

Author:Lisa Holton & Jim Bates
Language: eng
Format: mobi
Tags: Finance, Business
ISBN: 9780470523377
Publisher: Wiley
Published: 2009-04-21T14:00:00+00:00

Transparency: Preparing for a sale

Transparency, in a business sense, is a policy of sharing both good and bad news with fellow owners and shareholders, suppliers, customers, and potential buyers. It derives from the traditional definition of the word: to see through something. In recent years, it's gotten a lot of usage because of companies that tried to hide problems in their balance sheets, in their facilities, and in their direct dealings with shareholders and customers.

Do you want to attract the best buyers and business partners out there? Do you want to have an efficient deal process from overture to closing? If so, transparency is your first goal. It comes before valuation, and it certainly must come before negotiation.

The road to transparency involves carrying out the following tasks:

Auditing your financials on an annual basis: Audited financials by a Certified Public Accountant willing to sign her name to her work is crucial if you're expecting to borrow money, seek investors, or in all but the smallest-company situations, secure a buyer. People want to know that numbers are for real before they'll sign a check, and they'll want to see several years' worth of audited figures, not just one year's figures.

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