American actor Lee Marvin once said: “As soon as people see my face on a movie screen, they knew two things. First, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture is over.” 1 Tip: Contact InformationA letter of instructions also might include contact information for individuals who…
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How to Get More from Your Business Valuation
When owners and managers receive business valuations, the first thing they typically do is flip to the conclusion: What’s it worth? Often, little attention is given to the analyses underlying the final number, especially if the report was prepared for internal planning or financial reporting purposes. But it’s always a smart idea for the company’s owners and managers…
Valuation Issues to Address in a Buy-Sell Agreement
Buy-sell agreements protect businesses with multiple owners in the event that an owner dies, becomes disabled or voluntarily decides to leave the company. They should dictate who can buy the departing owner’s interest, when, how and for how much. Ideally, these contracts are drawn up when a business is launched, but they can always be entered into —…