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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.
As an expert witness in court-related matters, Jenny deeply understands 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 to offer 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 leads 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 the following:
- 3:48: What are business valuations and forensic accounting?
- 8:26: How do you arrive at a definite value for a business?
- 12:55: “Maintainable Earnings”
- 15:44: Why it’s essential to have documented the duties and roles of the person that owns the business
- 20:09: Capitalisation Rate
- 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: Profit stability before growth and more!
