Business owners are always looking for ways to improve their company value. They might want to sell the company later down the road or even get more financing, and their company has to have the numbers to justify it. However, there are three big mistakes companies make when it comes to improving their company value, which today’s guest will dive into!

Jennifer Peek is a Value Advisor for Peek Advisory and is a CPA, CVA, venture investor, and so much more! She has worked with small businesses all the way up to billion-dollar companies on increasing their overall value and preparing them for their next business stage.

Jennifer worked for a public accounting firm for about five years; it was there where she saw her family-owned business clients really struggle with a transition. A lot of them were the 3rd or 4th generation in the business but were seeing problems when the 5th generation no longer wanted to be part of the family business.

Fast forward a few years later, Jennifer was working in Mergers and Acquisitions for a large company who was considering selling some of their smaller companies off to a competitor and buying up other smaller businesses in the region. It was here where Jennifer got hands-on and insider experience as to what companies look for before they buy and before they sell.

When it comes to common mistakes business owners make, reducing your taxes is the biggest one that comes to mind. It’s natural for business owners to want to pay less in taxes while they are starting their business. Because of this, they work diligently with their tax advisors to bring their liabilities down.

However, this can actually affect your company value if you’re looking for a successful exit. Jennifer worked with a client where his company evaluation was about half of what he was expecting, but through a little bit of work and tweaking, he was able to get his numbers where he needed to be for a successful exit within a year.

Interview Links:

Peekadvisory.com

Jennifer on LinkedIn

Resources:

Scaling Up for Business Growth Workshop: Take the first step to mastering the Rockefeller Habits by attending one of our workshops.

Scaling Up Summits (Select Bill Gallagher as your coach during registration for a discount.)

Bill on YouTube