A business can be so much more volatile compared to a house or shares, so why do people never really know what the value of their business is?
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Are you a business owner – do you know the value of your business? People’s perspective is so far off tilt with how important know the value of their business is in comparison to the other major assets they own.
People know what their assets such as houses, cars, shares are worth, because they are easy to measure and check up on whenever they like. Businesses are harder to measure, and ironically, out of all the assets people can own, a business has the largest chance of becoming a liability, it should be the most critical thing to measure so it’s incredible to think that most business owners don’t know what their business is worth.
A house, it’s really easy to define the value of a house, because it’s tangible you can touch the bricks. People get their new car valued regularly so they know when that sweet spot is to sell or upgrade. Checking shares or investments, is a simple case of logging in and getting the answer straight away. And again ironically, these assets have the least amount of volatility next to a business.
Both the business, and the market itself is far more volatile than a housing or share market, so if there is one thing you should start doing regularly, it’s to get your business valued. In today's economic landscape, you need to know what it is worth, and you need to know when the market is favourable.
The other funny thing is that people have such a different emotional connection to their business. There is s depth of emotion that simply can’t be compared to house, or a car. A home is private and personal, it’s not judged by the public - a business is who you are and how you do it – it is the reflection of your inner self and the measure of your ability to be successful in your environment. It’s blood, sweat and tears, and it can be the most rewarding or destroying element of your life - so why is it not the most important asset to have valued regularly?
Come and get your business valued with Vision Brokers and Advisors, and keep doing it every 12 months, so that we can show you how to maximise its sale value, you can be prepared to sell at the drop of a hat, and we can let you know when the market is hot.
If you are a business owner, don’t put it off any longer. Bye.