Value Maps : Valuation Tools That... | Buy

Summary

Praise for VALUE MAPS "Equivocator, Explorer, Experimenter, Exploiter, Extender-Chapter 12 might be well served as mandatory reading for all subject matter experts! SPARC is not a valuation, per se, but rather a separate consulting engagement that might interest a client-especially if that client is preparing for a sale or planning an exit strategy. Miller has taken the good ideas from five disciplines and married them with value enhancement, creating what could become a very good 'add-on' consulting engagement. NACVA recommends, and looks forward to, further dialogue related to this new approach. This book will open your eyes to new opportunities." -Parnell Black, MBA, CPA, CVA, Chief Executive Officer, National Association of Certified Valuation Analysts (NACVA)"No one illuminates the murky intersection where business strategy and private company value creation meet better than Warren Miller. Now he's focused his extensive professional training and real-world experience to produce this intellectually rich, yet down-to-earth and fun-to-read road map we can all use. Business owners and leaders, financial analysts, management consultants, wealth managers, CPAs, business brokers, private equity investors, business appraisers-no one should plan to increase the value of an enterprise without Value Maps in their passenger seat." -David Foster, CEO, Business Valuation Resources"Private-equity analysts do not often come across scholarly and technical professional reading laced with laugh-out-loud moments! Yet this is exactly what one finds in Value Maps. Warren Miller's advice stems from his career as a finance executive, a CPA, a valuation analyst, and a 'recovering academic.' With pitch-perfect balance, Warren has created both a must-have professional reference guide and a best-practices road map designed to enhance the profitability of your client's business and your own-all in a very readable style with just a 'spoon-full of sugar.' Enjoy the read!" -Gary M. Karlitz, ASA, CPA, Partner-in-Charge, Valuation Services, Forensic Services, and Forensic Accounting, Citrin Cooperman & Company, LLP"Extremely readable, with numerous real-world examples-valuation specialists who don't read this book will soon be looking for a new profession. Miller takes the term 'valuation' to new levels, suggesting that appraisers can indeed add real value to their clients' businesses. Clients should demand that a valuation professional read this book before he or she will be hired." -Alfred M. King, Vice Chairman, Marshall & Stevens, Inc.

Preface
Acknowledgements
About the Web Site
List of Acronyms
Cornerstones
Why a New Approach Is Needed
Valuation as Craft
The State of Our Craft
Cause and Effect: What and Why
Multidisciplinary Tools for Analyzing Value Creation
Parameters of Valuation
What We Know about Risk
Components of Risk
A Framework for Unsystematic Risk
Unlocking Business Wealth
Summary
Additional Reading
Tools from Strategic Management
History
Perspective
Valuation Tools
Strategic Intent
Generic Competitive Strategies
Resources
Competitive Analysis
Distinctive versus Sustained Competitive Advantage
VRIO
Customer Satisfaction Surveys
Diversification
Unlocking Business Wealth
Summary
Additional Reading
Tools from Industrial Organization
Perspective
Tenets
Tools
Unlocking Business Wealth
Summary
Additional Reading
Tools from Organization Theory
Perspective
Tenets
Tools
Unlocking Business Wealth
Summary
Additional Reading
Tools from Evolutionary Economics
Perspective
Tenets
Tools
Unlocking Business Wealth
Summary
Additional Reading
Tools from Austrian Economics
Perspective
Tenets
Tools
Unlocking Business Wealth
Summary
Recommended Reading
Pouring The Foundation
The Straight Scoop on Value Drivers
Definition
Value Drivers versus Balanced Scorecards
Why Value Drivers Matter
The Regenerative Power of Capitalism
Assessing Durability
Summary
Additional Reading
The " OT"in SWOT Analysis: The Macroenvironment
Defining the Domain
Unit of Analysis
Trilevel Unsystematic Risk Framework
History and Background
Why Does the Macroenvironment Matter?
The Forces
Summary
Additional Reading
The " OT"in SWOT Analysis: The Domain
The Roots of Domain Analysis
Oligopolies Large and Small
Price Competition in an Oligopoly
Published Industry Risk Premiums
The Domain
Summary
Additional Reading
Competitive Analysis and Estimating Market Share
Getting to " Why": Analyses, Composites, and On-Site Interviews
Financial Ratios
A Key Metric
Finding Sector-Specific Metrics
The Analysis
How to Construct a Composite
Prepping for the On-Site Interviews
Conducting the On-Site Interviews
Summary
The " SW"in SWOT Analysis: The Company and SPARC
Cause-and-Effect Relationships
Value Drivers and Value Destroyers
Assessing Durability of Advantage
Back to VRIO
Summary
Bringing It All Together: Quantifying Unsystematic Risk
SPARC Archetypes among Small and Medium-Sized Enterprises
Exploiter and Extender
Explorer and Experimenter
Equivocator
Summary
Tales From The Firing Line
Construction and Manufacturing
Construction
Specialty Publishing I
Specialty Publishing II
Specialty Manufacturing
Packaging
Business to Business
Safety Equipment/Supplies
Industrial Supply
Construction Materials
Antique Building Materials Reclamation
Transportation
Transportation Collection Services
LTL Trucking
Freight Forwarding
Specialty Retailing
Jewelry I
Jewelry II
Building Materials
Pharmacy
Services
Outplacement Services
Executive Search
Private Equity
Investment Banking
Dental Lab
Quick-Lube Services
Practice Management
The Engagement Process
When Can an Engagement Include a Value Map?
Finding Good Clients
Avoiding Problem Clients
Marketing and Selling the Work
The "Shake-'n'-Howdy"Visit
Pricing the Engagement
Engagement Letter 1
Highlights of Engagement Letter 1
Managing Expectations
Engagement Letter 2
Summary
Working with Clients
A Few Words about Family Systems
Processes
How Not to Do It
How (Else) Not to Do It
Start at the Beginning
Think like a Buyer
Planning the Engagement
As the Process Unfolds
Winding Up the Value-Mapping Process
Summary
Additional Reading
IFRS, IVSC, and Value Maps
The Valuation Process Outside the United States
The Cost of Capital Outside the United States
Gathering Data Outside the United States
Summary
Epilogue: The Future for Value-Mapping Services
The Future for Valuation Services
Marketing Matters
That Special Cadre Dedicated to Delivering Value to Clients
Closing Words
Bibliography
Index
Table of Contents provided by Publisher. All Rights Reserved.

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