Build Business Value - by Scott Pfeiffer (Paperback)

Book Synopsis

Build Business Value will give you an overview of steps you can begin taking today to build the valuable business you want.

The book does not tell you how to make and sell your product or how to deliver your service - I assume you know how to do all that. The bedrock on which business value rests is that of an excellent product or service, competently delivered, and having a competitive advantage in price, service, or quality.

Instead, this book tells you how to make decisions about the business that will enhance long term value, in lieu of reducing taxes and taking out cash.

There is nothing wrong with operating your business with a goal of reducing taxes and taking out as much cash as you can along the way. But understand that operating the business in this manner will not increase the value of the business over time as much, and if you want to sell the business later, the value will be much lower.

"You can take the value out now, or build value for later, but it's hard to do both."

In the Appendices, I include an Accounting for Entrepreneurs section that lays out the basic financial reports and analysis you may encounter and gives you some very basic tips for interpreting those documents. Any entrepreneur who is intent on building value needs to be conversant with these financial reports and analysis tools.

It is important that you understand how to read these financial reports and basic analysis and understand how others - bankers and buyers - will read them. These financial statements are the lenses through which a lender or acquirer will view your business. By understanding them you can see how the steps in this book will affect value, you can monitor your business' progress along the way, and you can better evaluate the advice your professionals will give you along the way.

Review Quotes

"Build Business Value delivers specific actionable content to help any business, no matter the size, understand how to find and create the needed value within their organization. Scott takes the complex and converts it to clear and concise language to demystify the complexities of today's business world." -Richard Bliss.

"Scott has been a trusted advisor and friend for over 20 years. In my 30 years of experience in small business, I honestly have never met anyone with his knowledge and insight. He has helped me grow my businesses and was instrumental in my successful sale of 3p businesses. He understands the problems and issues faced by entrepreneurs and offers real-world advice on how to navigate best the choppy waters of running a company. Scott's integrity, honesty, and breadth of business knowledge make him an invaluable asset to have on your team."

-Brad Cunningham.

"Enlisting Scott Pfeiffer to help plan the direction of our company was the ideal decision. As a business owner, you have multiple responsibilities: hiring the right people, creating the correct product set, and choosing the perfect tools. Scott helped us accomplish these tasks and more. Working with Scott is like a MasterClass on all things business. His encouragement and timely insight have, in turn, allowed us to help our customers transform their businesses, making our company their most valuable tool."

-Tim Martin