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Welcome back everyone. In the sixth and final part of my blog series, I want to discuss something that affects all of our financial journeys: Superannuation. Perhaps you’re concerned about your retirement savings? Or maybe uncertain about how to make the most .....
Business - 4 min read
If you’re not sure if your business is profitable, you may feel like you’re spinning your wheels, always working harder but not getting anywhere. Many business owners feel the same way, whether they’re actually making money or not. The solution to this ambiguity is to perform a business valuation.
There are many reasons that business valuation is important, from getting ready to sell it to business planning for the future. And business valuation can also be important to help you find out if your business is making money and what you can do if it’s not.
Just as it’s helpful to have someone else proofread your report because you’re “too close to it,” it’s extremely helpful to get an outsider’s view of your business. An independent business expert will be able to look at your business objectively and show you where you could make improvements.
It’s nearly impossible for a business owner to take an objective view of his or her business. There are simply too many details and too much intimate knowledge of the organisation for objectivity.
Whatever your current business plans are, you’ll benefit from a business valuation because it offers you an accurate snapshot of how you’re doing. It will give you a financial analysis that will help you to discover trends that affect your business. This will help you to know if you’re making money or not. It will also illustrate your capital structure, growth or decline in expenses and revenues, and other important metrics.
There are several different common approaches to business valuations, including the income approach, the market approach, and the asset-based approach. When you meet with the consultant who will be performing your business valuation, discuss which of these approaches will be most helpful to you in pinpointing why your business isn’t making money. The income approach may be most helpful for businesses having cash flow problems. The market approach will benefit businesses in highly competitive industries.
If you’re interested in finding out why your business isn’t making money, contact Altus Financial for a business valuation. Soon you’ll be able to use an accurate business valuation for your business planning, goal setting, and vision for the future.
For insight into the current state of your business' health, try our Healthy Business App by clicking below:
Set your business on the right path with this simple guide.
Make sure you’re on the right track with this online checklist.
Business - 9 min read
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Altus Wealth Pty Limited ABN 55 649 956 212 is an Authorised Representative of Altus Financial Services Pty Ltd ABN 24 637 026 825 an Australian Financial Services Licensee (AFSL no. 520266). Altus Financial Services Pty Ltd is not responsible for the advice, products and services provided by Altus Accounting. Julie Azzi is a credit representative (CR No. 366834) of BLSSA Pty Ltd ABN 69 117 651 760 (Australian Credit Licence 391237).
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