Trust — 4 steps taken to win
Business is trust!
Banks function on the premise of trust!
So why do I mention this?
My company, Peak Business Valuation, works with Banks to provide a third-party opinion on the value of a business for purpose of issuing an SBA 7(a) Loan. According to SBA SOP 50–10 5(J).IV(E), “an accurate business valuation is required because the change in ownership will result in new debt unrelated to business operations and potentially the creation of intangible assets”. Bank lenders work with vendors, whom they trust. As such, how does a young company like Peak Business Valuation build amity with lenders?
Through trust!
In the book Enchantment by Guy Kawasaki, Guy discusses ways to achieve trustworthiness. Here are some of them, plus additional insight:
1. Be Open About Your Motives and Goals
During the past two months, I have spoken with dozens of underwriters, BDOs and closing specialists about their roles and how Peak Business Valuation could better serve them. What I have learned is that upon the first meeting, each person is wondering what the real motivation is.
Peak Business Valuation’s success is measured through the success of our clients. However, both parties realize that each party is working to make a living, so I have learned to be upfront about my motivation. Peak Business Valuations wants to provide SBA 7(a) business valuations.
2. Be an Expert
Peak Business Valuation has valuable knowledge and experience, resulting in competency to achieve the desired goal of providing a business valuation.
So, what makes myself, Managing Partner at Peak Business Valuation an expert?
Experience:
· 5+ years of experience in finance and accounting, specializing in valuations for small to mid-market merger and acquisition candidates
· Completed 1,500+ business valuations
· Advised on the value of equity interests for purposes including corporate planning, ownership transactions, recapitalization, mergers and acquisitions, estate and gift taxation and ESOP reporting compliance
Education:
· B.S. in Business Management with an emphasis in Finance from Brigham Young University
· Certificate in Advanced Accounting Proficiency from Santa Clara University
Professional Affiliations and Designations:
· Certified Public Accountant (CPA) as of October 2015. License # 127878
· Accredited in Business Valuation (ABV) as of January 2018
· Member of the American Institution of Certified Public Accountants (AICPA)
3. Sincerely Interact with People
Being responsive is a key quality that Peak Business Valuation makes each client aware of. I have noticed over the course of my career that it is easy to accidentally neglect responding to an email or a phone call. As such, our promise is to respond within 24 hours of initial contact.
At Peak Business Valuation, we do what is necessary to be responsive to our clients for we know if we don’t, then someone else will.
4. Think of Terms of Win-Win
How does Peak Business Valuation ensure a Win-Win?
Business relationships are not a zero-sum game. For instance, upon completion of the business valuation, the lender is that much closer to closing the loan. Peak Business Valuation realizes the importance of a quick delivery. As such, Peak Business Valuation guarantees a 4–5 business day turnaround for each business valuation. Let’s close that loan.
In addition, Peak Business Valuation has developed tiered pricing to benefit relationships that request multiple business valuations a month. Through this, Peak Business Valuation is able to address not only timing, but the ability to provide price incentives. For more information, refer to http://peakbusinessvaluation.com/services/.
Building trust at this stage of Peak Business Valuation is not easy. Trust takes work and effort. Peak Business Valuation wants to win your trust. Let’s build a firm relationship.
Contact us for more information:
Ryan Hutchins, CPA/ABV
Managing Partner
ryan@peakbusinessvaluation.com
(925) 787–9608
