Reputation, competitive advantage are part of your business’s value
What’s your business worth? OK, there’s the equipment at the Rapid City, Spearfish and Williston offices. And the delivery truck, inventory, cash in the bank…. Wait! Assets are a part of the value, but your business should be worth much more than the sum of its parts.
Ericka Heiser, MBA, Certified Valuation Analyst and a manager at Ketel Thorstenson’s Rapid City office, has a useful list of things to consider when placing a value on your business. Do you have a competitive advantage over similar companies? Your reputation among loyal customers has a value. A dedicated staff makes a big difference, too, and there are ways to assure a buyer of your business will be able to inherit that loyalty.
Check out Ericka’s complete article here.