Video: How to prepare for valuation industry growth
Industry research suggests that much of the growth in the business valuation industry is due to baby boomers retiring, with the intent to sell their businesses. While growth is superficially appealing, many firms need to consider if they are prepared to meet the increased demand for those valuations. Like most things in business, preparation activities create cost to the company, and the challenge for firms becomes how to grow profitably.
Key considerations arise during firm growth:
• Finding and hiring the right people who can grow your firm
• Scaling existing processes efficiently so that realization rates don’t decrease
• Leveraging technology to increase productivity and efficiency
Hiring can be a daunting task, particularly for small to medium-sized business that may lack an internal HR team or recruiting agency. In our conversations with valuation professionals, we’ve observed a few tactics that can help.
Sageworks Valuation Solution is a web-based, business valuation solution that helps firms streamline workflow, scale existing processes and increase realization rates. Explore features and benefits by watching a one-minute walkthrough video.