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In this episode, I’m joined by forensic accountant and valuation specialist Jenny Letts to talk about how business valuations work and how to improve yours.
Jenny Letts is a highly experienced forensic accountant, specialised in forensic and valuation assessment. With 19 years’ specific forensic experience, Jenny has technical expertise in analysis and reporting, and strong communication skills that differentiate the service her clients receive.
Jenny works with personal, corporate and government clients across a broad range of matters including business and company appraisal and valuation, valuation of intangibles, tracing of assets for commercial and family law purposes, and economic loss assessments.
With extensive experience in forensic and valuation methodologies, Jenny has the ability to draw on the most effective methodology to deliver successful outcomes for lawyers and their clients, providing assessment reporting in a timely manner.
As an expert witness in court-related matters, Jenny has a deep understanding of her responsibilities under various Court and Tribunal jurisdictions. Often engaged by both parties, Jenny maintains high standards of professionalism by providing impartial, unbiased and independent assessments, representing all involved parties.
Seeing the benefits for clients in providing specialised valuation and forensic accounting services, Jenny established the firm with the intent to provide a reassuring service to lawyers and clients. Jenny’s passion is for problem solving and she believes that having a clear understanding of the purpose and requirements of the problem lead her to gain insight into issues. With this insight, Jenny can provide simple, concise and elegant solutions. This approach allows for efficient turnaround both in terms of time and costs.
In this episode, we discuss:
- 3:48: What are business valuations and forensic accounting?
- 8:26: How do you arrive at a definite value for a business?
- 12:55: What are “maintainable earnings” and why are they so desirable for your business
- 15:44: Why it’s important to have documented the duties and roles of the person that owns the business
- 20:09: How a Capitalisation Rate is measured and how you can improve yours using systems, procedures and operating manuals.
- 25:37: Other things you can do to improve the valuation of your dental practice
- 35:22: Common profit and risk factors in a business
- 36:35: How to dramatically improve your business multiplier without increasing your profits
- 38:54: Why you should be aiming for stability of profit before growth
- And more