Strategize beyond competition

In the intricate world of finance, estimating a business's economic worth stands as a formidable challenge, especially in the absence of financial expertise or a seasoned finance team. Business Valuation 360 (BVA 360), founded in 2009 in Denver, has become a staple in this domain, providing unparalleled accuracy, transparency, and strategic support to business owners, regardless of their company's lifecycle stage. At the helm of BVA 360’s operations is, The Sanborn Edge, an international turnaround CEO and published author, Michael Sanborn. Business valuation is the process of determining a company's economic value. For various reasons, such as determining a business's sale price, securing financing, mergers and acquisitions, estate planning, or tax purposes, their valuation methodologies may include the income approach, the market approach, and the asset-based approach.

Michael’s real-world experience in growing businesses and conducting valuations brings a unique perspective, positioning BVA 360 not just as a valuation company but as a catalyst for business growth and success. Michael emphasizes the importance of getting a professional valuation for business owners who are considering selling their companies. Beyond valuation, it is elevating business success, and its role transcends mere valuation; its ultimate aim is to elevate businesses to higher levels of success. Understanding the fair market value of a business is critical for owners to make reality-based decisions rather than relying on misunderstood revenue and profit multiples. BVA 360 equips owners with credible information and facilitates smoother succession planning.

Their staff of seasoned and qualified finance, accounting, and valuation professionals gives them a competitive edge in business valuation. They offer a variety of valuation services for financial reporting, tax compliance, litigation support, and strategic planning. To improve efficiency, increase accuracy, and provide clients with insightful and educational 90-page reports, they are utilizing new technologies and valuation methodologies. High-quality valuation services, professional standards, integrity, and confidentiality have earned them a good industry reputation. Building lasting connections with clients, understanding their business needs, and providing personalized valuation solutions that enhance their decision-making. For them, it is all about keeping up with industry changes, laws, and valuation methods to provide clients with creative solutions.

For any company to succeed, Michael believes that effective leadership involves empowering and inspiring others to reach their full potential. He leads by example, demonstrating integrity, transparency, and accountability, and creates a positive and inclusive work environment where team members feel valued and supported, actively listening to their ideas and providing guidance when needed. Michael sets clear goals and expectations, providing resources and support for his team to succeed. He encourages open communication and collaboration, recognizing achievements, and learning from failures. Overall, his leadership style focuses on building strong relationships, fostering trust and collaboration, and creating a supportive and empowering environment for everyone to thrive and contribute to the team's success.

The organization can implement the following strategies to effectively guide goal-setting and ensure alignment of objectives at all levels: In their view, it is important to develop a clear organizational vision and mission statement that encompass the overall goals. All employees and stakeholders should receive this communication to guarantee their understanding and alignment with the organizational goals. Establish key performance indicators (KPIs) that align with organizational goals and cascade them down to all levels to ensure the integration of objectives. They encourage regular communication and collaboration between departments, sub-teams, and individuals to ensure everyone is working towards common goals. Regular performance reviews and feedback sessions are crucial for monitoring progress and making necessary adjustments. Organizations should provide training and development opportunities to support the achievement of their goals. Organizations should continuously monitor and evaluate their progress toward goals to ensure they are on track to achieve their objectives. By implementing these strategies, organizations can effectively move towards goal establishment and ensure alignment of objectives at all levels.

Above all, it can be helpful to create an environment in which employees feel comfortable collaborating and provide opportunities for cross-functional collaboration, according to Michael. Senior leaders should lead by example, and managers should promote teamwork. Training programs on collaboration, communication, and team building can help employees develop the necessary skills for a collaborative environment. Overall, these strategies can improve teamwork, innovation, and organizational performance.

Moreover, to maintain a competitive advantage, it is important to stay informed about competitors' strategies and tactics. One can achieve this by regularly analyzing their activities, strategies, and performance, monitoring their marketing campaigns and pricing strategies, and staying updated on industry trends and changes in consumer preferences. Attending industry events and networking can provide valuable insights, as can employing competitive intelligence tools and engaging with industry experts. To surpass competitors, Michael suggests conducting a SWOT analysis to identify their organization's strengths and weaknesses compared to competitors. Improve weaknesses and use strengths to outperform competitors. Create unique selling propositions and value propositions that differentiate your products or services. Provide superior value to customers, continuously innovate, and adapt to market conditions and consumer needs. Stay ahead of your competitors by introducing new offerings. Prioritize customer satisfaction and loyalty by delivering exceptional service and personalized experiences. Recruit and retain top talent, invest in employee development, and allocate resources effectively for growth and innovation. Michael is confident that by doing so, they can come up with a successful plan to outperform them and establish a long-term competitive edge in the market.

Thus far, The Company has grown from its Denver roots to have offices in multiple states like California, Texas, Florida, Illinois, and Arizona, underscoring the necessity of having a local presence while providing national values with broader market awareness.