Insights
Notes for owners on cash, value and the sale
Written by the partners, from the questions clients ask us most. One new piece a month.
Valuation
Normalised EBITDA: the add-backs buyers accept, and the ones they don't
The number a buyer multiplies is not the EBITDA in your accounts. Here is how the adjustments work, with the evidence each one needs.
7 min read
- Cash The 13-week cash forecast, and why the bank asks for it A monthly budget tells you whether you are profitable. A 13-week forecast tells you whether you can make payroll. How to build one in an afternoon and keep it honest. 6 min read
- Exit What a buyer checks in due diligence, in the order they check it Due diligence is a list, and it is the same list every time. Knowing the order lets you fix the expensive items first. 8 min read
- Leadership Five signs you have outgrown your bookkeeper, not your budget A full-time CFO costs $250,000 or more. Most companies under $50M need one for a few days a month. Here is how to tell when that moment has arrived. 5 min read