Articles on this Page
- 09/20/13--00:29: _HBS Cases: Women MB...
- 09/20/13--03:07: _How India's Parliam...
- 09/20/13--06:43: _How Russel Redenbau...
- 09/20/13--07:39: _How To Boost Your C...
- 09/20/13--08:16: _Business and Human ...
- 09/20/13--08:29: _CEO survey is gloom...
- 09/20/13--19:25: _The Business of Hum...
- 09/21/13--20:00: _As drug firms squir...
- 09/21/13--20:26: _India demands chang...
- 09/21/13--20:41: _Three years gone, b...
- 11/04/13--18:52: _Case Study: The Cos...
- 11/04/13--19:00: _Who Has 1 Billion U...
- 11/06/13--06:12: _Nice or Tough: Whic...
- 11/06/13--06:24: _Wharton Professor E...
- 11/06/13--06:34: _Three Wrongs Make a...
- 11/06/13--06:49: _Control Is for Begi...
- 11/06/13--18:44: _How Caregiving Can ...
- 11/07/13--05:19: _Why You Should Fill...
- 11/07/13--18:20: _Can You Reverse Hea...
- 11/08/13--05:32: _Mastering the build...
- 09/20/13--00:29: HBS Cases: Women MBAs at Harvard Business School 09-20
- 09/20/13--03:07: How India's Parliamentary Elections work 09-20
- 09/20/13--06:43: How Russel Redenbaugh Defeated his Disabilities 09-20
- 09/20/13--07:39: How To Boost Your Company's Value: Mind the Intangible Assets 09-20
- 09/20/13--08:16: Business and Human Rights event with BSR and Yahoo 09-20
- 09/21/13--20:26: India demands changes in WTO trade facilitation agreement 09-22
- 09/21/13--20:41: Three years gone, but Games still not over for organisers 09-22
- 11/04/13--18:52: Case Study: The Costs and Benefits of a Strong Culture11-05
- 11/04/13--19:00: Who Has 1 Billion Users And Is About To Overtake Facebook? 11-05
- 11/06/13--06:12: Nice or Tough: Which Approach Engages Employees Most? 11-06
- 11/06/13--06:34: Three Wrongs Make a Right 11-06
- 11/06/13--06:49: Control Is for Beginners 11-06
- 11/06/13--18:44: How Caregiving Can Change Your Personality 11-07
- 11/07/13--05:19: Why You Should Fill Your Company With 'Athletes' 11-07
- 11/07/13--18:20: Can You Reverse Heart Disease? 11-08
- Limit the saturated fat in your diet to less than 7% of calories.
- Choose heart-healthy sources of fat, such as salmon and other fish rich in omega-3 fatty acids, nuts, and olives.
- 11/08/13--05:32: Mastering the building blocks of strategy 11-08
HBS Cases: Women MBAs at Harvard Business School
“WE WANT THEM TO GRAPPLE WITH WHAT IT TAKES TO BUILD AN ORGANIZATION, TO LEVERAGE DIVERSITY AND CREATE AN INCLUSIVE CULTURE.” —BORIS GROYSBERG
"YOU'RE A SHINING LIGHT"
“WE STILL HAD URINALS IN THE WOMEN’S RESTROOMS ALMOST 20 YEARS AFTER WOMEN HAD BEEN ADMITTED.” —MBA CLASS OF 1982 ALUMNA
AN EMOTIONAL EXPERIENCE
How Russel Redenbaugh Defeated his Disabilities
by Rich Karlgaard
How To Boost Your Company's Value: Mind the Intangible Assets
BY CURTIS KROEKER
You may not be able to touch them, but things like patents, processes, and a good reputation just might boost your business's price tag
Mention business “assets,” and most people think of actual physical items, such as equipment and real estate-;things that are tangible. But intangible assets--such as copyrights, trademarks, a brand, a solid reputation--play an important role in the valuation and sale of businesses.
In fact, all nearly all businesses, even those that exist solely in cyberspace, possess intangible assets. And if you’re selling your company, it’s critical to leverage such assets to both increase your own value and make your company more attractive to buyers.
Assigning value to intangible assets is also challenging. There are several different methods for estimating the worth of intangibles. With so much on the line, most sellers will be well-served to consult a business broker or professional appraiser rather than trying to value intangible assets on their own. However, there are several things you can do to highlight and improve the value of your company’s intangible assets as you prepare to sell your business.
Identify Your Intangible Assets. In the months leading up to a sale, sellers typically conduct an inventory of equipment, real estate, and other physical assets. But savvy sellers also include intangible assets in their pre-sale inventories. This list can be extensive. In addition to intellectual property, it’s important to consider the value of contracts, agreements, partnerships, customer relationships, Internet domains, brand recognition, and more. Essentially, any non-material asset that contributes to your company’s success has the potential to boost its value.
Document Such Assets’ Impact For business buyers, the value of an asset is limited to its ability to generate bottom line outcomes. This is especially true when it comes to intangible assets, since many intangibles don’t have value beyond the context of the business itself.
By documenting the impact of intangible assets, you can demonstrate their worth to prospective buyers. For example, loyalty metrics illustrate the value of customer relationships. Sales tied to proprietary processes show the dollar value of specific pieces of intellectual property.
Standardize Systems and Processes Intangible assets tend to be unique business elements and can intimidate buyers who are unsure whether or not they will be able to leverage them to achieve similar results. So as much as possible, try to standardize and document the use of intangible assets, highlighting how they are integrated into processes that rely on key employees, tangible assets, and other resources that will exist after you have exited the business.
Develop Your Intangibles Depending on the timing of your sale, it may be possible to create new intangible assets as well as increase the value of intangible assets that already exist. You can also make intangible assets more tangible. For example, if you have a proprietary process that differentiates your business from the competition, it may be beneficial to secure a patent for it before you list your business in the business-for-sale marketplace. Poof: something intangible becomes tangible.
Of course, some intangible assets are more valuable than others to prospective buyers. To avoid investing time and resources in intangibles that may contribute little to business value and sale price, consult a business broker early in the process.
CEO survey is gloomy reading for the corporate sustainability movement
As drug firms squirm under glare, authorities look abroad for cure
Three years gone, but Games still not over for organisers
Case Study: The Costs and Benefits of a Strong Culture
Nice or Tough: Which Approach Engages Employees Most?
SIX STEPS TO A CLUMPIER CONSUMER
View at the original source
Three Wrongs Make a Right
So, the server disappears for quite a while and finally comes back and has the drink order entirely wrong. Wrong #2. He went back to fix this once we told him. Third, the manager comes out to ask if we ordered only two food orders (there were four of us there today) instead of four food orders. We said no and she apologized and said the server put in all the food wrong as well. Wrong #3.
The server never told us it was his first day or we might have been more understanding. This was just a lack of good communications on his part. However, the manager did everything right. She rushed to get all the drinks fixed, took care of our table herself, offered us a free appetizer, and then explained all the options with each meal (which we did not get the first time). You see, she took a situation that was quickly getting bad and fixed it. So my experience was not great today, but it would not stop me from going back. Why? She cared and communicated she was sorry and explained the truth as to what was going on.
She was honest, did not make excuses and simply took care of the problem. Is this not something we can all learn from and apply to our business? There are times when it might be appropriate to explain “why” something went wrong to a customer. However, in many cases the best policy is to say we have “dropped the ball” on this and we will do whatever it takes to make the situation right. This is what the manager did for my family at lunch. Little does she know I am blogging about this on an international blog.
Customers do not like mistakes. However, my most loyal customers were earned based on how I make bad situations “right” for them. Once a customer knows you will go the extra mile and do what is right, you have reached an entirely new level in your relationship. You make them feel important and they know that you will stand behind a problem. Thus, you create more than a loyal customer...you make a raving fan.
So, as the title states...sometimes three wrongs can make a right!
Control Is for Beginners
Why You Should Fill Your Company With 'Athletes'
Can You Reverse Heart Disease?
Yes, You Can!
If you have serious heart disease and are extremely motivated, you may be able to make such major changes, but they are difficult to sustain, says Lori Mosca, MD, MPH, PhD, professor of medicine and director of preventive cardiology at Columbia University Medical Center and the author of Heart to Heart: a Personal Plan for Creating a Heart Healthy Family.