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Knowing The Value Of Your Business

Date:

There’s one question many business owners ask themselves often: “What is the true value of my business?” 

It’s an important question because, whether you realize it or not, the value of your business will have a big impact on both personal and professional aspects of your life. So, knowing the answer is vitally important.

A business valuation, conducted by a credentialed valuation expert, estimates the economic value of your interest in a business. It is most often used to determine the selling price of a business, the amount needed to fund a buy-sell agreement or to assign values to individual assets held by the business. Once you know the value of your business, you can put in place more effective plans and strategies for future growth, business continuation, succession planning, or employee retention. It can also help you plan for your own future.

How Business Value Impacts Your Retirement

There are many sound business reasons why you need to know your company’s value, but there are also personal ones. If you’re relying on the value of your business to fund your retirement, then having an accurate picture of its worth is critical. 

Retirement planning is, for many, a life-long endeavor. You’ve likely accumulated savings and assets over time, perhaps decades, and may have plans in place to draw down money each year as retirement income. If proceeds from your business, which may be your most valuable asset, is an integral part of your retirement plan, it is critical that you know now just how much of the business value will be available to you in the future.

The sooner you know the answer, the faster you can take steps to create other sources of retirement income outside of your business if you need to. And, should economic conditions change for the worse and adversely affect the business value, you’ll be in a better position as you move toward the next chapter of your life.

What’s Your Business Worth?

Your team of professional advisors can help guide you in determining the best way to undertake the business valuation process. Once completed, the value of your business should be reviewed periodically. 

Business valuation can impact your life in so many different ways. The question you should be asking yourself now is, “How do I get started?”

Provided by Rashad Bilal, a financial representative with The Bilal Group LLC, courtesy of Massachusetts Mutual Life Insurance Company 

Rashad Bilal
Rashad Bilalhttps://earnyourleisure.com/
Rashad Bilal grew up in the financial services industry, taking a summer internship with his family’s Wealth Management firm, The Bilal Group, LLC in 2005. He learned at a young age the importance of financial literacy and realized that he wanted to translate his knowledge into actions. After graduating with honors from The University of Hawaii in 2007, Rashad became a full time associate with The Bilal Group in May 2008, culminating in his advancement to Vice President in 2009. Rashad Bilal is the co-founder and CEO of Earn Your Leisure (EYL). Earn Your Leisure is a revolutionary media platform which gives rise to emerging and established content creators from the world of business, finance, and entrepreneurship whose perspective, expertise and in-depth insight has been undervalued and overlooked. At its core, Earn Your Leisure’s ultimate purpose is to build, as we climb as a community highlighting collaboration over competition.

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Black 2 Business

There’s one question many business owners ask themselves often: “What is the true value of my business?” 

It’s an important question because, whether you realize it or not, the value of your business will have a big impact on both personal and professional aspects of your life. So, knowing the answer is vitally important.

A business valuation, conducted by a credentialed valuation expert, estimates the economic value of your interest in a business. It is most often used to determine the selling price of a business, the amount needed to fund a buy-sell agreement or to assign values to individual assets held by the business. Once you know the value of your business, you can put in place more effective plans and strategies for future growth, business continuation, succession planning, or employee retention. It can also help you plan for your own future.

How Business Value Impacts Your Retirement

There are many sound business reasons why you need to know your company’s value, but there are also personal ones. If you’re relying on the value of your business to fund your retirement, then having an accurate picture of its worth is critical. 

Retirement planning is, for many, a life-long endeavor. You’ve likely accumulated savings and assets over time, perhaps decades, and may have plans in place to draw down money each year as retirement income. If proceeds from your business, which may be your most valuable asset, is an integral part of your retirement plan, it is critical that you know now just how much of the business value will be available to you in the future.

The sooner you know the answer, the faster you can take steps to create other sources of retirement income outside of your business if you need to. And, should economic conditions change for the worse and adversely affect the business value, you’ll be in a better position as you move toward the next chapter of your life.

What’s Your Business Worth?

Your team of professional advisors can help guide you in determining the best way to undertake the business valuation process. Once completed, the value of your business should be reviewed periodically. 

Business valuation can impact your life in so many different ways. The question you should be asking yourself now is, “How do I get started?”

Provided by Rashad Bilal, a financial representative with The Bilal Group LLC, courtesy of Massachusetts Mutual Life Insurance Company 

Rashad Bilal
Rashad Bilalhttps://earnyourleisure.com/
Rashad Bilal grew up in the financial services industry, taking a summer internship with his family’s Wealth Management firm, The Bilal Group, LLC in 2005. He learned at a young age the importance of financial literacy and realized that he wanted to translate his knowledge into actions. After graduating with honors from The University of Hawaii in 2007, Rashad became a full time associate with The Bilal Group in May 2008, culminating in his advancement to Vice President in 2009. Rashad Bilal is the co-founder and CEO of Earn Your Leisure (EYL). Earn Your Leisure is a revolutionary media platform which gives rise to emerging and established content creators from the world of business, finance, and entrepreneurship whose perspective, expertise and in-depth insight has been undervalued and overlooked. At its core, Earn Your Leisure’s ultimate purpose is to build, as we climb as a community highlighting collaboration over competition.

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