Business Appraisal: The Professional's Guide
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Business Appraisal: The Professional's Guide

How to Determine Value of a Business Before You Order an Appraisal - Focusing on Professional Valuations
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
3 students enrolled
Created by Robert Affolter
Last updated 6/2017
English
Current price: $40 Original price: $50 Discount: 20% off
30-Day Money-Back Guarantee
Includes:
  • 43 mins on-demand video
  • 7 Articles
  • 7 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Think like an entrepreneur.
  • Evaluate business opportunities and determine which offers the best return on investment.
  • Avoid a costly mistake that over values a business by tens of thousands of dollars.
  • Learn to separate real estate from the purchase of the practice and how to evaluate real estate.
  • Know what to look for in management of the business that adds value.
  • Explain why common ratios used to evaluate businesses are inadequate.
View Curriculum
Requirements
  • A knowledge of business basics and vocabulary is helpful but not necessary.
Description

This course is for the professional entrepreneur who is considering purchasing or selling a practice. The principles apply to any business. 

The course consists of seven videos plus an introductory video. There are a few articles that help reinforce the points made in the videos.

After taking the course, the student will be much better at thinking like an entrepreneur and have a basic understanding of how to value a business. My intent is to take the mystery out of the process so that it is simple and sensible.

Who is the target audience?
  • This course is for professional entrepreneurs who want to purchase or sell a practice.
  • The principles in the course apply to any professional practice.
  • The course is not intended for people who just want a job.
Curriculum For This Course
+
Welcome!
1 Lecture 00:10
+
Start Here
14 Lectures 47:51

This lecture is my background and what we will cover in the course.

Preview 04:37

This video applies to the value of anything. No matter what you are buying or selling the information in this video will help you think about it from the standpoint of benefits.

Preview 03:32

Here are some examples of anticipated benefits.

Lesson 1+
01:14

In this video, I cover a mistake made by most people that adds at least tens if not hundreds of thousands of dollars to the value of a business - inappropriately.

Preview 06:00

Lesson 2+
00:44

We want financial information. Start with the basics - tax records.

Lesson 3 Where Do You Start?
04:45

Lesson 3+
00:10

Payback and cap rate, two ways of evaluating a cash stream in this video.

Lesson 4 Evaluating Cash Stream
05:57

Lesson 4+
01:13

Some assets like real estate and major equipment can be valued like the business overall using payback or cap rate. Others will be valued at market rate.

Lesson 5 What Is the Value Based on the Balance Sheet?
05:41

Lesson 5+
00:39

Think about the systems the business has in place.

Lesson 6 What Is the Difference Between a Good and a Great Business?
06:22

Don't be fooled by these two ratios. They might not be too meaningful.

Lesson 7 Debt Service Ratio and Price Collections Ratios
06:10

Lesson 7+
00:44

Quiz
3 questions
About the Instructor
Robert Affolter
5.0 Average rating
3 Reviews
27 Students
3 Courses
Consultant/Teacher

If you are considering starting your own business, there are a lot of decisions to make. I know how you feel. I've practiced chiropractic for over 30 years. I remember what it felt like to get started. I had a MBA before going to chiropractic college and still didn't know the basics I needed to succeed in healthcare. I had a mentor that I visited almost weekly. The world has changed a lot since then, but I've found that a business mindset and business basics are essential.

In 2006, my son started a construction business. Again, the principles of business are the same. It doesn't matter what business you are thinking of starting, knowing the principles of business will improve your odds of success.

The Professional's Guide to Business Basics is the first course for entrepreneurs. One of my profs in the MBA program told us that the program was not designed to make us accounting, marketing, legal, or finance professionals, but would give us the vocabulary and skills necessary when talking with those professionals. 

That is my goal with this course. I want you to have the basic business
vocabulary you need. I'll also give you a couple of videos that can save
you thousands of dollars in finance charges and legal fees. This is all
real world stuff and not just something some college prof made up to fill a 50 minute class. 

Thinking of buying or selling a business? Buying a business is the fastest way to become profitable. In the MBA program, I took a course called The Capital Budgeting Decision. It was about how to compare different investments. That is really what you are doing when you buy a business. 

The Professional's Guide to Practice Valuation will give you the basics of practice valuation. I created the class for doctors, but the principles are the same no matter what type of business you are considering. I've helped chiropractic colleagues. I helped my CPA get out of accounting and buy a business. In fact, I bought a practice myself using the information I give you in this course. 

Over a decade ago, I became a Realtor. When I took the coursework to become a broker, I learned the process of evaluating a business opportunity. It was the same as I learned in the MBA program. I'm giving you that process in a concise, easy to understand course. If you're buying or selling a business, this course could save you thousands of dollars. I bought a practice with an asking price of well over $100,000 for $50,000. A client bought a practice someone else valued at $300,000 for $10,000. My CPA friend turned down several businesses that weren't worth anything.

Napoleon Hill interviewed the 50 wealthiest men in the world and developed his philosophy of personal achievement. His book, Think and Grow Rich has been translated into multiple languages and has been a best seller around the world. He said that the only thing we've been given complete control over is our mind. That fact is evidence that while controlling our mind we are closest to our Creator.

The Professional's Guide to Ascendancy teaches how to recognize the spiritual part of yourself. You'll learn to program and control your brain and thoughts using a technique I've used for over 20 years. You'll learn how to recognize thoughts that are inspirational or limiting and how to take control. You'll experience programming your brain to find opportunities and people to help you achieve your goals. I draw from my science background and three years with IBM to give you analogies that help you operate your brain. You'll learn why so many people fail to meet their goals and how you can meet yours. 

In addition to my education and work experience, I have been married since 1978. My wife and I have four grown children and one grandson. I enjoy hunting, fishing, crabbing, boating, and camping.