Insights
Valuation & Pricing
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Recurring Revenue and Why Buyers Pay More for It
Not all revenue is equal in a buyer's eyes. Predictable, recurring income is worth more than the same rand earned unpredictably. Here is why, and how to build more of it.
Add-Backs: Showing a Buyer What You Really Earn
Owner run businesses rarely show their true earning power in the accounts. Add-backs correct for that, but only if you get them right. Here is how to do it credibly.
Why Two Similar Businesses Sell for Very Different Prices
Same sector, same size, same profit, wildly different price. The gap between two similar businesses is rarely luck. Here is what quietly separates the winners from the rest.
EBITDA Is Not Cash in Your Pocket
EBITDA is the number everyone quotes, but it is not the cash your business actually generates. Here is what it leaves out, and why the difference matters when you sell.
Working Capital: The Quiet Number That Can Move Millions
You agreed a price, shook hands, and then working capital changed the amount you actually receive. Here is how this overlooked mechanism works, and why it matters.
The Levers That Move Your Multiple
Two businesses with the same profit can sell for very different prices. The reason lies in a handful of value drivers you can influence.
What Is Your Business Actually Worth?
Every owner has a number in mind. The market has its own. Understanding how buyers really value a business is the first step to closing the gap.