Selling a business can be a stressful event. Given the size of the asset – and likely it’s importance to your retirement – you can just imagine that there are going to be some […]
Local is Old School.
Hire the Best Firm,
Not the Closest.
Time was that we all of our service providers were just across town. But technology has changed that- now we work with the best fit and most experienced, regardless of locale.
Does Your Valuation Firm Need to Be Local?
Once upon a time all of our service providers were local, weren’t they? Of course times are changing. With the advent of modern technology we live in a really flat world. For Quantive we have an agency relationship in Maine and Chicago, we have employees all over the U.S., and we work with clients in 40+ states every year.
So does your valuation professional need to be in your town? Absolutely not. Unlike real estate where value is driven by an asset that is physically connected to the earth, business value is primarily driven by intangibles. Things like assembled workforce, convenience of location, brand and corporate image, client relationships, and more. All of these things come together to effectively drive ongoing cash flows, and ongoing cash flows drive value. Can we observe and analyze these things without being your friendly neighbor? Absolutely.
Considerations on Valuation Expert Location
Scale and Experience result in accuracy and efficiencies. We have a big valuation practice. We work on hundreds of assignments every year in about every imaginable industry. Local practitioners typically lack scale in their practice to get really good at valuation work. They also typically lack economies of scale, resulting in higher pricing for lower quality of work.
Technology Investment. Because of our set up we are heavily invested in state of the art technology. Our practice is fully digital and paperless. On one hand that helps us take data security extremely seriously. On the other, it results in a very “low friction” relationship with our clients. All of our interactions for document delivery and review are over state of the art secure file storage.
Site Video and Photos. We do like to get photos and video of your company. In this day and age it’s hard to even find a flip phone without a camera. We’ll typically ask you to shoot us some pictures or video of any facilities and upload to our secure servers.
Local Presence. Sometimes we do have to put feet on the ground. We have the capability to put feet on the ground in all fifty states within 72 hours for site reviews. We don’t charge extra for this – it’s already built into our pricing. That said, you can imagine that if you’re like a lot of companies these days that are primarily people and desks, there’s not a lot to be said for a site visit!
Video Interview. C’mon, don’t be camera shy! Something that’s been super successful for us is working with you through video conference. We’ll share log in information and you can even log in via your mobile phone for a video interview. The process is seamless but it really does help connect the dots when we are working with remote clients.
Bottom Line – the nature of professional services is changing rapidly.
The expectation that we are working with folks local to us becomes less and less important when we consider that we can access a higher quality experience for a competitive price who happens to be locate a state or a time zone away. Our experience working across the country – from Alaska and Hawaii to Puerto Rico too – only serves to drive this point home on a daily basis.
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How can Quantive Help?
Our Exit Planning Program is designed to help ownership proactively plan for their “third act” – life after business. It starts with our gap analysis program: Launch Pad.
Our Recent Writing on Exit Planning
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