On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck are joined by Jim Laird of Laird Valuations. They discuss different strategies for maximizing a business’ value and the importance of being proactive when planning the sale of a business. By focusing on financial health, workforce development, and market position, business owners can significantly increase their valuation and improve their chances of a successful sale.

Key Points:

• Proactive Valuation: Getting a business valuation several years before a planned sale can provide valuable insights for improvement.

• Financial Health: Clean financial statements, industry benchmarking and profitability are crucial for a strong valuation.

• Workforce Development: Investing in employee training and development can significantly increase a business's value.

• Market Position: Understanding the competitive landscape and maintaining a strong market position is essential.

• Company Specific Risk: Reducing reliance on key personnel and diversifying customer base can improve valuation.

• Industry Multiples: Valuation multiples vary by industry and company-specific factors.

Jim Laird is a business valuation consultant who specializes in tax-related valuations, medical practice assessments and sale related valuations—spanning industries including manufacturing, truck transportation, healthcare, restaurants and retail, and construction contractors.

Learn more about Laird Valuations: www.lairdvaluations.com

Learn more about preparing your business for sale: www.growthteams.com