Valuation of a business can make or break a great succession plan; the trick is to know how robust a valuation you or your client will need. A simple spreadsheet of value drivers or multiple of EBITDA will not cut it for businesses of $1million or more in revenues. With this book, Sheeler demystifies that process in clear and compelling writing for both business owners and sophisticated advisors.”
Paul Cronin, Serial entrepreneur, COO
Successful Transition Planning Institute
Going beyond traditional models of equity valuation – never underestimate the value of relationships. Carl’s “holistic” approach to valuation is a realistic and insightful assessment of the true value of a business. He validates what great leaders know deep down – it’s the intangible resources (especially the skills, network and vision of strategic advisors) that largely decide the highest potential of equity value. Read this book and it will shift your mindset about investing in your advisory team – you’ll be glad you did!
Malcolm Avner, Founder & Chairman, Conscious Capitalism San Diego, Business & Leadership Coach
Carl succinctly conveys that operational risk results from poorly developed relationships and tactical versus strategic thinking. He asks the reader to consider whether they properly use due diligence when vetting advisors. Carl’s audience transcends high wealth individuals as the book’s content is applicable and necessary for all risk managers and anyone who hires advisors in any capacity. The book is well written and logically organized. This is a book that has been needed for a long time.
Mike Wakshull MS, CQE, President
Q9 Consulting, Inc.
Carl Sheeler moves past the limiting aspects of valuation analysis by creating the Governance, Relationships, Risks and Knowledge framework. GRRK gives advisors tools that leverage governance into culture, relationships into advisory boards, risks into opportunities, and knowledge into insight. Applying GRRK methods to valuations provides insights and opportunities that advisors should share with clients to grow their businesses, expand their influence within their markets, and grow professional networks that can be new sources of revenue. The business services industry is moving away from hourly rates towards value pricing. Consultants should use this book and elevate service offerings to become deeply trusted advisors who bill on their value and not on their time.
Vito Colombo, Principal
It is rare when technical acumen and a deep understanding of behavioral aspects combine. Carl Sheeler articulates the depth and breadth of value enhancement. CEOs, entrepreneurs and valuation professionals will develop a stronger strategy to grow their business. Putting these eleven chapters into practice will not only help your business survive but thrive!
Linda H. Yates, The Image Energizer
Linda H. Yates Coaching + Consulting Group
The preponderance of professionals who work with family businesses put great effort into integrating their technicals and relationship building with clients. Carl Sheeler does a masterful job of offering an in depth analysis that can facilitate this integration. An important contribution to the field.
Barry Graff, Family Business Consultant
Whether a first time entrepreneur or a seasoned business veteran, Dr. Sheeler has provided an essential text for understanding valuation. Touching on all key factors of business valuation, he provides a multi-faceted view – bringing in all necessary components from finance and management, to operations and governance, among many others. Dr. Sheeler’s work in Equity Value Enhancement is a necessary addition to any business professional’s bookshelf because of its practicality and usability.
Ericka Harney, ABD, CFRE, GPC, CVA, Executive Director
Accounting & Financial Women’s Alliance
It’s about time someone took the ‘gorilla in the room’ in valuation and made it known, quantified it and put it into practical use. Human Capital is that last piece of shadowy, intangible now brought to light.
G2 Advisors, Inc.
It has been my experience that an owner’s emotion always tends to skew the perceived value of his/her small to medium sized family owned business. Based on this one variable of the equation, many owners will either over or under value the business that they either created or run. When they reach out to traditional consultants they hope to find someone that will provide them with an unbiased perspective and give them the answers that they themselves cannot seem to resolve.
Most “average consultants” value a business using a set of fairly simple mathematical formulas which incorporate the use of a variety of metrics to determine a final tangible value based on the businesses revenue, expense, and/or balance sheet either at a given time, or over a stated time period. Dr. Sheeler’s approach takes a deeper more systemic look at a business which also includes a variety of intangible variables; the people, the culture, and other inherent values which in fact drive the numbers which are so often used in the "traditional approach".
By including both tangible and intangible variables in to an equation he has developed a way of establishing a truly authentic value for a business, one that can be used to help leverage the organization to further success or to provide a price point from which to negotiation a sale.
Kirk W. Lawson, CAE, Executive Director/CEO
Business Professionals of America
Carl nailed it! Carl has constructed a bridge connecting the huge cavernous divide between advisor client relationships. Carl lays out clearly why these gaps exist and how to fill them. Equity Value Enhancement is a must read for business owners, C - Suite Corporate Executives and Advisors seeking client - advisor success. Carl answers the business owners question; "How do I know if an advisor is the right one for me?" and the advisors question; "How do I identify the best client match for my knowledge base?"
James S. Wittmack, Master Strategist, Former entrepreneur
Advisor to Small and Medium Size Companies