Here’s something you don’t usually hear a transaction advisory firm say: sometimes we can’t sell your business!
It’s not for lack of preparation. At Southard Financial, we go over every client’s business situation with a fine-toothed comb to accurately determine the value range of what their company is worth.
It’s not for lack of experience. In our case, we’ve been at this for over 30 years.
Bob had built a booming business before he died.
It was something he’d built from the ground up with blood, sweat, and tears. He had grown from a single truck with some tools into one of the area’s most reputable fine home builders, with multiple crews working all over the city.
He was the 100% owner, and had run the company solely for the benefit of his family’s lifestyle. Many wonderful memories with his wife and kids were made possible by the income his business generated.
Whatever your plans were for 2020, it’s a safe bet that COVID-19 changed them. Its physical and economic impact has been felt literally around the world, and it will continue to have a ripple effect on businesses for months and years to come.
Harry and David revolutionized the way things were done in their industry. When they came on the scene, no one had ever seen anything quite like the world they created. In their first year alone, they moved over a million units, received numerous awards, and were number one in their market.
Harry, however, could never seem to get what he was after…which is exactly the way David designed it. No matter how hard he tried to succeed, David made Harry’s life difficult at every turn. It almost seemed like David wanted him to die! In spite of their differences, however, they had a very profitable business relationship for nearly 30 years.
We recently posted an article about Estate Taxes and how the value of your company affects how much your heirs may have to pay. We pointed out the benefit of having your business properly valued so your heirs know exactly what to expect regarding the value of your estate. We also briefly touched on the idea of transferring portions of your company ownership during your lifetime in order to lessen future tax burdens.
David A. Harris and Mark A. Orndorff spoke at the 2019 Annual Fall Conference of the New South Chapter of The ESOP Association held in Orlando, Florida on October 16-17. They gave a presentation titled “Can Employees Really Impact Company Value?”
David A. Harris and Matthew L. Jakes spoke at the 2019 Spring Workshop of the New South Chapter of The ESOP Association held in Atlanta, Georgia in February, 2019 on the topic of “Valuation Appraisal Checklist – 10 Things Your ESOP Appraiser Should be Doing”
David A. Harris spoke at The Fall ESOP Forum of the NCEO (National Center for Employee Ownership) held in Albuquerque, New Mexico in October, 2018 on the topic, “Communicating Valuation: Tools, Tips, and Examples”.
David A. Harris spoke at the 2018 Annual Fall Conference of the New South Chapter of The ESOP Association held in Birmingham, Alabama in September, 2018. He led a workshop called “The People’s Roundtable Interactive Workshop – A series of ‘Build to Last’ activities that focus on developing successful communication and team building programs for employee owners of all generations.” Speakers included Dolores Lawrence, Blue Ridge ESOP Associates; Lindsay Baublitz, SCandH Capital; David Harris, Southard Financial LLC
Mark A. Orndorff spoke at the ESOP Nuts and Bolts Seminar of the NCEO (National Center for Employee Ownership) held in Indianapolis, Indiana in August, 2018 on the topic of “What’s Your Company Worth? – ESOP Valuation.”
Mark A. Orndorff spoke at the American Booksellers Association Winter Institute 2018 held in Memphis, TN in January, 2018 on the topic of Succession Planning titled “What is Your ‘End Goal’?”
