Valuing Your Business and Planning Your Exit Strategy
In this interview, T. J. Liles-Tims, a Certified Valuation Analyst at BVFF Partners, LLC, a certified business valuation and financial forensics firm, answers an array of questions related to topics such as business valuations, financial analysis and exit plans for distressed companies. Mr. Liles-Tim’s insight and knowledge will be helpful for anyone who is buying, selling or appraising a business.
Key Points from Our Conversation
- “The business valuation is pivotal in many different aspects of the exit planning process, but one of the biggest roles is allowing the Seller to prepare for exiting the business.”
- “Seller financing is often a selling point, because traditional banks will not loan money on ‘goodwill’ or ‘blue-sky’ and if the business is expected to continue forever, then it will undoubtedly have ‘goodwill’.”
- “Most business owners do not like to think about or know the financial details of their business, I would highly recommend that you understand the financial piece of the business.”
- “There are many people who say they can value a business, but are not credentialed to do so. Look for the credentials because more times than not you will be getting good advice.”