Why does the DEA sell an airplane for so cheap?!?
Every once in a while, you might see an airplane for sale that the Drug Enforcement Agency has confiscated. And they’re selling it way below it’s book value… Why? No log books! When were the engines last serviced or overhauled? Oil change? Any damage history? Instrument issues? Pilot-noted “squawks”? Where has the plane been in service? The Arctic? The Desert?
We know nothing about this airplane and therefore we must presume the worst. It’s not airworthy! Everything needs fixing or replacement, the engines are run-out, etc. So, that’s you can buy it for about half price!
What does this have to do with the valuation of your business?
While there are many things you can do to build value in your company — revenue, profits, partnerships, deals, etc. — What about the documentation, the organizational foundation and ongoing history of your company? When we buy or sell a car, including all service receipts has value. Homes are in escrow for a month while the title is searched and all the “T’s” are crossed and the “I’s” are dotted. But what about your business? Is it like the poor DC-3 above or does it come complete with full log-books?
Due-diligence is the process by which an investor or buyer verifies everything about your company, making sure it is everything you say it is and appears to be. This can be a difficult, painful, and time-consuming process. And your deal could fall apart anywhere along the way. Or not. Imagine for a moment the person who takes a box full of receipts to their accountant expecting the accountant to make sense if it all… Or imagine sending your QuickBooks file to your accountant who can easily determine everything they need to know? Which one are you?
With a small investment in carefully designing and documenting your steps as you build your company, you can reap huge rewards when working with investors or a buyer who can cash you out.
I think we now have an feasible solution…
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It’s the only online dashboard with the tools that build and document your company at the same time — Ultimately enabling you to sell your company faster and for more money! Unless you’re the person who brings a shoebox full of receipts to your accountant, you’ll thank yourself for doing this!Click to Learn More