TITLE

Raising Valuation Through Your Infrastructure

AUTHOR(S)
Vessenes, Peter M.
PUB. DATE
May 2002
SOURCE
Journal of Financial Planning;May2002, Vol. 15 Issue 5, p40
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article focuses on raising valuation through one's infrastructure. Valuation is more important than income. As we get older, and the 60-hour workweeks are not as easy to sustain, valuation becomes a key focus of our lives. Unlike many other types of companies, service-based businesses cannot depend on hard assets to sustain and build value; yet for many of us, the valuation of our practices is a significant factor in our own retirement plans. Infrastructure is the ingrained methods and systems of how the company works. It is the frame of the company's culture, it forms the basis for training new employees and it determines the various teams, groups and departments that make up your organization. Infrastructures are built in all companies that have more than one employee. Without them, only chaos can prevail. The challenge lies in building a strong infrastructure. There are four specific elements that form the operation of one's practice. These are sales, marketing, operations and fiscal management. Each of these has several sub-components. Each requires systems, planning, budgets and an investment of resources, time and capital to increase their strength. Each requires monitoring and review on a regular basis to stay healthy.
ACCESSION #
6658319

 

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