Monument Resource Center

Our clients hire us because they recognize the value of our Team’s unique, straight-forward, unfiltered opinion and our tailored advice designed to answer their questions, not everyone else’s. Below, you’ll find some of the most important questions we have been asked over the years to help you better understand the role we play and the advice we give.

Valuation – The (Multi) Million Dollar Question

For business owners considering their future exit, “What’s it worth?” is just as important a question as “What’s the money for?” It’s fun to dream up what’s next and consider the opportunities your newfound liquidity can afford you.

But you don’t have time to waste–any exit planning you do, especially getting your personal financial house in order and understanding what you need from a business sale to meet your personal goals and objectives, must be productive and efficient. The jumping off point? A professional valuation and an answer to the question, “What’s it worth?”

The Stakes are High – Accuracy is Crucial

You wouldn’t begin the process of working with an architect to build your dream home if you didn’t know what your current home was worth and were reliant on proceeds from selling it to fund the project.

Sure, there are things like “comparables” as a starting point, but your home has its own unique features and circumstances that will ultimately drive the value. Receiving a professional appraisal before you commit to building your dream home is a smart way to know your starting point in terms of what’s feasible– maybe you have to forego the outdoor custom kitchen if the appraised value of your current home is less than you anticipate.

Would you rather know that up front, or be in the middle of tearing up your yard when you realize you can’t do everything 100% as planned?

Similarly, when it comes to funding your goals and objectives with proceeds from a business sale, a professional appraisal will ultimately save you precious time (which is invaluable). Your wealth planner can run myriad scenarios to show you various “what ifs” when planning around what the money is for. However, a lot of time can get wasted developing a plan that may not be feasible if a buyer doesn’t agree that your business is worth what you believe it is.

Multiples and comparable data from other transactions in your industry may give you a rough idea of how much you can plan for, but ultimately future offers will come down to what YOUR business is worth upon careful examination of all of the facts. Wouldn’t you rather know this value up front with the help of an objective professional appraisal? This is a game changer in creating a more realistic plan for your wealth with advice you can act on, and can provide you a sense of security and confidence that the decisions you make now will have a high likelihood of creating future success.

Time is On Your Side – Diagnose Misalignment Now

A professional valuation may reveal that things are well on track for a deal that will support your goals, like a comfortable lifestyle in retirement and setting future generations of your family up for success. It may also reveal that there’s some work to do in improving your valuation potential to get closer to the amount needed for whatever is next post-exit. An early diagnosis gives you time and flexibility in making the necessary changes to maximize value.

Depending on the results of your valuation exercise, you may determine that only minor adjustments are needed to give future buyers a better sense of the profitability potential of their investment. Simple changes to how you and your CPA manage and report on the financials or better separation of personal and business expenses could move the needle. On the other hand, you may identify a larger gap between what you need and what you have, requiring significant changes to your business–something you may not have known until you were too far down the road to make meaningful changes. Knowing that information early gives you time to consider your business strategically and diagnose where best to focus in improving value.

The Confidence To Consider a Deal

You may have an interested buyer before you’ve even thought of being a proactive seller – while this should be a moment of celebration, it may instead be a moment of anxiety and decision paralysis if you don’t know what your business is worth and if those proceeds will be enough.

Doing the work ahead of time to answer not only “What’s the money for?” post-exit but also “What’s the business worth?” will allow you to consider a proposed deal more confidently – not only the amount being offered but also the structure of the deal. You may get an all cash deal that is lower than your desired amount, but if it still allows you to accomplish your goals and reduces the risk of the transaction by paying you outright all up front, it may be a deal worth considering. Knowing the facts before considering an actual deal, which may come with many complex emotions that cloud judgment, will allow you to be decisive when time is of the essence and maintain peace of mind that you are taking actions that are in line with your carefully-designed wealth plan.

If you are considering your business exit but haven’t taken the time to step back and look at the big picture, there’s no time like the present!

While no one can deliver tomorrow to you today, you want to know you have enough when you exit – to live on, to pass on, to provide for. Security isn’t being able to predict the future; it’s about knowing you have a solid plan in place.

Through co-creating your personal Private Wealth Design, we help you achieve a deep understanding of the big picture and what matters most to you–so you know where you stand at all times and can feel confident making decisions about your business exit.

Case Study: The Confidence to Sell a Business

It’s time to find clarity around your upcoming business sale and remove the anxiety of the unknown.

Read our case study, “The Confidence to Sell a Business,” to learn how we helped a business owner like you prepare for their sale.

Ready for straightforward, unfiltered opinion and tailored advice for YOUR questions, not everyone else’s?

Emily M. photo

Emily M. Harper, CFP®

Vice President & Partner

Emily’s background in the financial industry began after she graduated from the University of Virginia. During a seven-year run in various advisory and leadership roles at a global asset management firm, Emily acquired four industry licenses, a certificate in Financial Planning from UVA, and her CERTIFIED FINANCIAL PLANNER™ designation.

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