No matter your current plans for your company, it’s important to know its proper valuation. The true value of any business is so much more than profits and losses. It includes a variety of factors, which can often be overlooked. Before you make the next move, whether it’s acquiring assets, selling your business, or simply putting a new marketing plan into action – seek a professional valuation so you can make informed decisions going forward.
If You Plan to Sell
When you’ve worked hard to create your own transportation empire, it can be a blow when you find out others don’t find it to be worth as much as you think. It’s challenging not to get emotional over something you’ve worked so diligently to create. On that same vein, you may be unaware of the goldmine you’re sitting on. Performing a valuation should be the first step in the sale process.
If You Plan to Buy
When you’re in the market to expand your business, and you want to make an acquisition, you have to know what you need. Have you ever gone to the grocery store without a list, only to arrive home with chips and cookies to realize you forgot the ingredients for dinner? The same thing can happen when you purchase new assets if you’re not careful. A valuation of your company can help you locate areas within your business that can be improved, or problems that can be solved, with an acquisition.
Even if You’re Not Making Big Moves Right Now
You never know what the future holds. It sounds cliché, but it’s a truth you have to recognize when you’re in business. When you know the value of your business, you are better ready to face obstacles that land in your path, or take advantage of opportunities. For example, with a proper valuation, you’ll be much more able to seek and be approved for financing opportunities – whether you need a loan to float your business through a hard time, or to take your business to new heights.
No one has ever said that owning and running a company is easy (and if they did, they were lying to themselves and anyone who heard them). I guarantee you’ve run into plenty of potholes along the way, but those holes become fewer and far between when you’re fully informed about how much your company is worth, and about how the decisions you make will affect its outcome.
If you’re the owner or manager of a transportation company, contact the Tenney Group to get the wheels rolling on your company’s valuation.