Musings on Markets

JANUARY 11, 2024

Continuing an annual ritual of long standing, ahead of starting my spring teaching at NYU starting in a couple of weeks, I would like to invite you, if you are interested, to come along for the ride. Recognizing the need for a doctorate as an entree into college teaching, I stayed on at UCLA to get my Phd.

Corporate Finance 128

Corporate Finance Finance Start-ups Dividends 128

Biz Equity

FEBRUARY 2, 2023

And for financial advisors competing for the attention of business owner prospects, doing so becomes even more difficult, considering all the responsibilities a business owner has to juggle on a daily basis. Lead with the “why,” not the “what.” I had a business valuation done ten years ago. Isn’t it still valid?

Business Valuation 98

Business Valuation Marketability 98

Viking Mergers

DECEMBER 5, 2022

Very early in his career, Eric McKeehan developed a passion for working with small businesses and entrepreneurs. Today, he lives out that passion as an Advisor with Viking Mergers & Acquisitions in Asheville, NC, driven by values learned through a decade of working with small to midsize businesses. It’s not ‘just business.’”

Start-ups 130

Start-ups Finance Business Valuation Marketability 130

Viking Mergers

MAY 5, 2022

Every day, countless business owners and entrepreneurs ask themselves, “When should I sell my business?” The decision to sell a business is not often an easy one, but there are many reasons an owner might do it. In this article, we’ll take a look at seven common reasons to sell your business.

Start-ups 130

Start-ups Business Valuation Marketability 130

Biz Equity

JANUARY 27, 2023

Lani’s clients have businesses in a variety of industries, including banks, payroll companies, and marketing firms. Her clients tend to come to her with the intention of selling and are often not sure what the value of their business is. Recently, Lani had a case with a construction company looking to sell its business.

Banking 52

Banking Marketability 52

Musings on Markets

JANUARY 28, 2024

In my last data updates for this year, I looked first at how equity markets rebounded in 2023 , driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound. What is risk?

Risk Premium 93

Risk Premium Beta Start-ups Equity 93

Sun Acquisitions

NOVEMBER 7, 2022

Perhaps you’ve asked, “Can I sell my business if I got a PPP loan?”. The long and short is yes, it’s possible, however, there’s a series of considerations from the Small Business Administration (SBA), the holder of your PPP loan debt that you need to comply with. The Payment Protection Program Loan.

Business Valuation 98

Business Valuation 98

Musings on Markets

NOVEMBER 9, 2021

I have been writing about, and valuing, Tesla for most of its lifetime in public markets, and while it remains a company that draws strong reactions, it is also one that I truly enjoy valuing. Tesla: The Back Story I first valued Tesla in 2013 , as a "luxury automobile company" and I have valued almost every year since.

Start-ups 99

Start-ups Dividends Marketability Market Capitalization 99

ThomsonReuters

DECEMBER 17, 2020

In this episode of Pulse of Practice “Should a Small Firm Care?”, Paul Miller, CPA from Business by Design , and I are joined by Brian Fox, Founder of Confirmation, part of Thomson Reuters. We often talk about how important reputation is in a client-focused business such as accounting. It builds on that relationship.”.

Accounting Firms 95

Accounting Firms 95

Musings on Markets

NOVEMBER 15, 2022

In my first two posts on Facebook, I noted that its most recent earnings report, and the market reaction to it, offers an opportunity for us to talk about bigger issues. Facebook, I argued, is a corporate autocracy, with Mark Zuckerberg at its helm.

Start-ups 90

Start-ups Marketability Market Capitalization Technology 90

Musings on Markets

JANUARY 8, 2022

Happy New Year, and I hope that 2022 brings you good tidings! To start the year, I returned to a ritual that I have practiced for thirty years, and that is to take a look at not just market changes over the last year, but also to get measures of the financial standing and practices of companies around the world.

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

IBG Business

MARCH 15, 2022

A personal exit plan can help you avoid the trap of selling your business before knowing what you will do next. By IBG Business. Selling his rock quarry was the farthest thing from Norm’s mind. My blood pressure’s a little high. My son wants to be a sportswriter. My son wants to be a sportswriter.

Start-ups 52

Start-ups Marketability 52

Equilest

OCTOBER 12, 2023

Read more about the significance of considering market conditions, property condition, location, hidden costs, and emotional attachment in business valuation in our comprehensive article.Ready to take the next step in planning your exit strategy? Business valuation is the process of determining the economic worth of your company.

Business Valuation 40

Business Valuation Intangible Assets Asset-based Approach Marketability 40

ThomsonReuters

MARCH 26, 2021

In this next chapter of Small Talk with Heather Walker , I am once again joined by Linda Forde, CPA and owner of The Forde Firm, and Nina Tross, Executive Director of the National Society of Tax Professionals (NSTP). From there, Linda purchased an unique book of business to launch her own firm. “I I do, and I can help them with that.

Start-ups 98

Start-ups Marketability 98

Musings on Markets

FEBRUARY 11, 2023

I describe myself as a dabbler, and it does get in the way of my best laid plans. A few weeks ago, I posted my first data update pulling together what I had learned from looking at the data in 2023, and promised many more on the topic.

Risk Premium 76

Risk Premium Start-ups Equity Marketability 76

Equilest

MARCH 16, 2024

If you're looking to buy or sell a small business, understanding the intricacies of valuation is crucial. Outline of the Article Introduction to Small Business Valuation Understanding the Importance of Valuing a Small Business Why is it crucial?

Intangible Assets 40

Intangible Assets Business Valuation Discounted Cash Flow Earnings Multiplier 40

Musings on Markets

APRIL 21, 2022

I am not a prolific user of social media platforms, completely inactive on Facebook and a casual lurker on LinkedIn, but I do use Twitter occasionally, and have done so for a long time, with my first tweet in April 2009, making me ancient by Twitter standards. My forecasted revenues for 2023 of $11.2

Start-ups 99

Start-ups Marketability Technology Market Capitalization 99

Musings on Markets

SEPTEMBER 14, 2021

Last year, I wrote a post on ESG and explained why I was skeptical about the claims made by advocates about the benefits it would bring to companies, investors and society. Goodness is in the eyes of the beholder, and what you perceive to be a grevious corporate sin may not even register on my list, as a problem.

Start-ups 99

Start-ups Marketability Firm Value 99

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). And what is the value of the pleasure I derive from the car, the drive, the fun, and its aesthetic beauty?

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

Margaret Wolfe Hungerford (née Hamilton), who authored many books, often under the pseudonym of ‘The Duchess’ When I think about value, I (like most in my profession) think first about fair market value (“FMV”). And what is the value of the pleasure I derive from the car, the drive, the fun, and its aesthetic beauty?

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

IBG Business

JULY 5, 2023

In many business sales, the seller’s excitement at receiving a letter of intent from a prospective buyer can give way to disappointment, when they see that the proposed terms of the deal require the seller to finance a substantial portion of the purchase price. Risk of Default on the Loan that’s Ahead of Yours.

Finance 52

Finance Start-ups Banking Marketability 52

Musings on Markets

AUGUST 25, 2023

I have always loved sports, playing tennis and cricket when I was growing up, before transitioning to fan status, cheering for my favored teams from the sidelines. I also like finance, perhaps not as much as sports, but there are winners and losers in the investment game as well. billion in 2012 to $132.5

Start-ups 92

Start-ups Dividends Marketability Finance 92

Musings on Markets

FEBRUARY 12, 2022

In this post, I will be valuing each of these companies, both to assess whether to invest in them individually, and to examine whether there are lessons for the market in their price entrails. trillion, and their share of the overall equity value of all US stocks also surged from 6.5% to 14.9%.

Market Capitalization 98

Market Capitalization Equity Marketability Start-ups 98

ISA

MARCH 30, 2022

For this month’s education blog, I was asked to write about starting or moving your appraisal business. For those of you who have “been around the block” and have no plans of moving, you may pick up some tips for tightening up your business practices or obtaining more work. And why Juliet had it wrong.

Appraisal 75

Appraisal Start-ups Marketability 75

Musings on Markets

MAY 7, 2023

I also used the banking framework to argue that good banks have stickier deposits, with a higher precent of these deposits being non-interest bearing, that they invest in loans and investment securities on which they earn interest rates that cover and exceed the default risk in these investments.

Banking 63

Banking Price to Book Dividends Book Value 63

Equilest

JULY 10, 2023

Can I value a jewelry store on my own? What should I do if the appraisal value is lower than expected? Can I increase the value of my jewelry store over time? Firstly, it helps in determining the fair market value of the business, enabling you to make informed decisions about selling, buying, or financing.

Appraisal 40

Appraisal Intangible Assets Business Valuation Marketability 40

Equidam

NOVEMBER 21, 2022

identifying and addressing key business assumptions. The other way is to decrease risk , by proving your business model and competence with more and more certainty as the company evolves. In everything a company does, you are working to prove your initial assumptions, to reduce business risk. The maximum I can raise is $5M.

Start-ups 57

Start-ups Marketability Alpha Finance 57

Musings on Markets

OCTOBER 12, 2023

I have made no secret of my disdain for ESG, an over-hyped and over-sold acronym , that has been a gravy train for a whole host of players , including fund managers, consultants and academics. That is the question that I hope to address in this post. In the course of the post, I will work with two presumptions.

Market Capitalization 82

Market Capitalization Enterprise Value Start-ups Marketability 82

Musings on Markets

NOVEMBER 10, 2022

In my last post, I used Facebook's recent troubles to talk about the importance of corporate governance, and how we, as investors, have abandoned the power to change management at many younger tech companies in return for being able to invest in young tech companies, with growth potential and well-regarded founders.

Finance 74

Finance Start-ups Equity Equity Financing 74

ThomsonReuters

SEPTEMBER 17, 2021

A chat with Chris Papin”, Paul Miller, Owner of Business by Design , and I are joined by Chris Papin, owner of Papin CPA, PLLC. Together, we discuss strategies for the small accounting firm to think big, grow their business, and strengthen their client relationships. I don’t care what the priority is or the timeline.

Accounting Firms 52

Accounting Firms Start-ups 52

Brian DeChesare

NOVEMBER 15, 2023

I first criticized the CFA in a 2009 article , which generated a lot of angry comments. I got so tired of these debates that I never planned to cover this topic again. I got so tired of these debates that I never planned to cover this topic again. So, should you make the CFA part of your recruiting strategy?

Banking 59

Banking Start-ups Finance Private Equity Firm 59

Musings on Markets

JANUARY 12, 2021

As we approach the turn of the calendar year, I have my own set of rituals that prepare me for the new year. Last week, was my data week, where I download and analyze data on all publicly traded companies, listed anywhere in the world, and I will post extensively on what the numbers look like after a most tumultuous year.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Equilest

NOVEMBER 6, 2022

Recently I came across this Linkedin Post following reference: "I own a blog worth $59,417-$72,634. Here's how and why it's valued at that price. . My blog currently: . - $1,872/mo profit (last 12-month average). I start here, then adjust based on the above factors. . I have a Finance Ph.D.,

Business Valuation 75

Business Valuation Finance Appraisal 75

Equidam

AUGUST 11, 2022

5 years if you are in a later stage (Series B+) or if your business is more predictable, or if your startup potential can only be expressed in a longer time horizon. Have I been too conservative? This article is going to focus on a technical aspect of financial projections, how far in the future should you forecast?

Start-ups 85

Start-ups Banking Marketability 85

Musings on Markets

AUGUST 2, 2021

Just over a week ago, I valued Zomato ahead of its market debut, and as with almost every valuation that I do on this forum, I heard from many of you. In this post, rather than impose my story (and value) on you, I offer a template for telling your own story about Zomato, and arriving at your own estimate of value.

Marketability 52

Marketability Start-ups Technology Market Risk 52

ThomsonReuters

NOVEMBER 11, 2020

In this episode of Pulse of Practice “A Conversation with Angie Grissom”, Paul Miller, CPA from Business by Design , and I are joined by Angie Grissom, Owner and Chief Relationship Officer of The Rainmaker Companies. Why should you start co-creating to strengthen your CPA advisory relationships? Overcoming advisory fears.

Start-ups 52

Start-ups Accounting Firms Compliance Marketability 52

Musings on Markets

DECEMBER 10, 2021

In the process, I will also look at the thorny issue of what happens when there is a mismatch between a company and its CEO, either because the board picks the wrong candidate for the job or because the company has changed over time, and the CEO has not. The Mythology of the Great CEO Are there a set of qualities that make for a great CEO?

Start-ups 83

Start-ups Marketability Technology Market Capitalization 83