{"product_id":"equity-value-enhancement-isbn-9781118871003","title":"Equity Value Enhancement","description":"\u003cb\u003eA detailed look at risk identification and value creation in private equity investment\u003c\/b\u003e \u003cp\u003e\u003ci\u003eEquity Value Enhancement (\"EVE\"): Governance, Risk, Relationships \u0026amp; Knowledge (\"GRRK\")\u003c\/i\u003e provides the information and tools practitioners and business owners need to work with the multitude of intangibles (\"GRRK\") in equity investment decisions. The author engages readers with an insightful and brief claim: \"\u003ci\u003eValues are more than numbers\u003c\/i\u003e.\" He then provides support for just how important human capital is to the value creation paradox. He doesn't stop there because ideas without definitive actions don't promote transformation. He further challenges the reader with: \"\u003ci\u003eIf you don't think outside of the box, you're doomed to live in the box\u003c\/i\u003e.\"\u003c\/p\u003e \u003cp\u003eA user-friendly manual chock full of vignettes, suggestions and pithy commentary EVE is a must read for owners, officers, boards and advisors to derive understanding of business value drivers. This book teaches the reader how to conduct more intangible asset due diligence as well as what decisions and behaviors impact value. With more effective methods of risk identification, measurement, management, and mitigation (\"IMMM\"), trusted advisors and owners can establish a \"working on the business\" strategy to prioritize issues impacting a company's intangible assets – assets which almost inevitably create the largest component of value in flourishing companies. This focus also serves to reduce risk while leveraging human capital and operational effectiveness. This book challenges users of value enhancement and valuation services to demand greater intellectual rigor to best serve owners\/investors of the United States' economic engine—the midmarket company. Therefore, readers are challenged to look beyond the common metrics and numbers. They are admonished to rely less on formulaic approaches and on software that can generate spurious opinions. The reader is called to action by the author, a US Marine Combat Officer veteran, to lead the change: \"You burn the boats if you want to be sure you succeed taking the island.\"\u003c\/p\u003e \u003cp\u003eTrillions of dollars of private equity are changing hands as Baby Boomer owners and investors seek greater liquidity and legacies while investors seek higher returns from direct investment in private companies. This book provides risk and human capital guidance removing some of the guesswork on valuation and value creation.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eProvide better evidence of value \u0026amp; equity discounts\u003c\/li\u003e \u003cli\u003eIdentify and quantify risk and provide tools to manage it\u003c\/li\u003e \u003cli\u003eInform better business management and investment decisions\u003c\/li\u003e \u003cli\u003eCreate a more comprehensive valuation for equity investments\u003c\/li\u003e \u003cli\u003eRoadmap and strategy for enhancement of going concern value\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eGovernance, Risk and Compliance (\"GRC\") management are hot topics in today's economic environment. The familiar financial metrics may not be providing adequate indications of value creation – the core principle of most shareholder investment expectation. To identify risk and work with it effectively, practitioners need an in-depth understanding of the forces at play. \u003ci\u003eEquity Value Enhancement\u003c\/i\u003e is a detailed, insightful guide for making better equity decisions.\u003c\/p\u003e \u003cp\u003eFinally, the author puts his passion front and center by offering the reader the opportunity to invest in the human capital this book addresses by encouraging support of military veteran's with combat PTSD so they may be productive citizens with the leadership and business skills provided by our country's \"Greatest Generation.\"\u003c\/p\u003e \u003cp\u003eForeword xv\u003c\/p\u003e \u003cp\u003ePreface xix\u003c\/p\u003e \u003cp\u003eAcknowledgments xxxi\u003c\/p\u003e \u003cp\u003eAbout the Author xxxiii\u003c\/p\u003e \u003cp\u003eAuthor’s Vision and Challenge xxxvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Value ABCs 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital and Risk 4\u003c\/p\u003e \u003cp\u003eUnderstanding Assets 5\u003c\/p\u003e \u003cp\u003ePlugging the Gap 7\u003c\/p\u003e \u003cp\u003eNotes 8\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Focus on Trusted Advisors 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Path to Being the Best 16\u003c\/p\u003e \u003cp\u003eQuestion Yourself 18\u003c\/p\u003e \u003cp\u003eTaking It to the Next Level 19\u003c\/p\u003e \u003cp\u003eNotes 22\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Focus on Business Owners 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Role of Advisors 27\u003c\/p\u003e \u003cp\u003eThe Cost of Bad Advice 28\u003c\/p\u003e \u003cp\u003eThe Value of Leveraged Knowledge 29\u003c\/p\u003e \u003cp\u003eEngaging the Best 31\u003c\/p\u003e \u003cp\u003ePractical Vetting Suggestions 32\u003c\/p\u003e \u003cp\u003eSize and Scope Considerations 33\u003c\/p\u003e \u003cp\u003eSetting Expectations 34\u003c\/p\u003e \u003cp\u003eNote 44\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Risk in the Eye of the Beholder 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInexperienced Business Appraiser Lenses 47\u003c\/p\u003e \u003cp\u003eCPA Lenses 48\u003c\/p\u003e \u003cp\u003eAttorney Lenses 51\u003c\/p\u003e \u003cp\u003eInvestment Banker\/Business Broker\/Business Intermediary Lenses 52\u003c\/p\u003e \u003cp\u003eCommercial Banker Lenses 54\u003c\/p\u003e \u003cp\u003eInsurance Professional Lenses 55\u003c\/p\u003e \u003cp\u003eWealth Manager\/Financial Advisor\/ Fiduciary\/Trust Officer Lenses 55\u003c\/p\u003e \u003cp\u003eResearch on Risk and Returns 59\u003c\/p\u003e \u003cp\u003eEconomist Lenses 60\u003c\/p\u003e \u003cp\u003eMBA\/PhD\/CFA Lenses 61\u003c\/p\u003e \u003cp\u003eOwner\/Family Lenses 63\u003c\/p\u003e \u003cp\u003eFamily Business Advisor Lenses 70\u003c\/p\u003e \u003cp\u003eStaff\/Vendor Lenses 71\u003c\/p\u003e \u003cp\u003eClient Lenses 75\u003c\/p\u003e \u003cp\u003eNotes 80\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Role of Governance 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGovernance 83\u003c\/p\u003e \u003cp\u003eFocus on Culture 84\u003c\/p\u003e \u003cp\u003eAbout Boards, Governance, and Strategy 85\u003c\/p\u003e \u003cp\u003eHealthy Board Governance and Strategy Creates Value 87\u003c\/p\u003e \u003cp\u003eStrategy and Equity Value 90\u003c\/p\u003e \u003cp\u003eFamily Harmony and Legacy as a Governance Driver 93\u003c\/p\u003e \u003cp\u003eBoard Strategic Direction and Accountability 94\u003c\/p\u003e \u003cp\u003eBoard Structure and Member Traits 95\u003c\/p\u003e \u003cp\u003eGovernance and Risk Management 97\u003c\/p\u003e \u003cp\u003eQualitative Value Measures 98\u003c\/p\u003e \u003cp\u003eTaking Control 99\u003c\/p\u003e \u003cp\u003eThe Secret Sauce 101\u003c\/p\u003e \u003cp\u003eGovernance Measurements 104\u003c\/p\u003e \u003cp\u003eGovernance Takeaways 106\u003c\/p\u003e \u003cp\u003eNotes 106\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Role of Relationships 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eClient Relationships 112\u003c\/p\u003e \u003cp\u003eAdvisor Relationships 114\u003c\/p\u003e \u003cp\u003eCommercial Bankers 116\u003c\/p\u003e \u003cp\u003eInvestment Bankers 116\u003c\/p\u003e \u003cp\u003eInsurance Agents 118\u003c\/p\u003e \u003cp\u003eWealth Advisors 120\u003c\/p\u003e \u003cp\u003eBoard of Directors 121\u003c\/p\u003e \u003cp\u003eThe Bottom Line on “Free” Advisors 122\u003c\/p\u003e \u003cp\u003eAccountants 122\u003c\/p\u003e \u003cp\u003eAttorneys 126\u003c\/p\u003e \u003cp\u003eFractional CFO 127\u003c\/p\u003e \u003cp\u003eFamily Relationships 128\u003c\/p\u003e \u003cp\u003eShareholder Relationships 129\u003c\/p\u003e \u003cp\u003eVendor Relationships 129\u003c\/p\u003e \u003cp\u003eCommunity\/Legislative\/Philanthropic Relationships 130\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Role of Risk: Financial- and Legal-Oriented Risk 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCommonly Missed Risks 137\u003c\/p\u003e \u003cp\u003eFinal Thoughts 172\u003c\/p\u003e \u003cp\u003eNotes 174\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 The Role of Risk: Operational-Related Risks 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Role of Knowledge 241\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Matter of Culture 244\u003c\/p\u003e \u003cp\u003eHealthy Knowledge 247\u003c\/p\u003e \u003cp\u003eBe Transparent 248\u003c\/p\u003e \u003cp\u003eEncourage Two-Way Communication 249\u003c\/p\u003e \u003cp\u003eKnowledge and Human Capital 249\u003c\/p\u003e \u003cp\u003eKnowledge Measures 252\u003c\/p\u003e \u003cp\u003eNotes 253\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Valuation versus Value Creation (GRRK) 255\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSoftware and Rules of Thumb 258\u003c\/p\u003e \u003cp\u003eA Personal Aside 260\u003c\/p\u003e \u003cp\u003eCollaboration, Cohesion, and Transformation 261\u003c\/p\u003e \u003cp\u003eNotes 262\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Putting It All Together—Four Vignettes 263\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVignette One: What the 2009 Financial Crisis Can Teach Us (It’s about Relationships) 265\u003c\/p\u003e \u003cp\u003eVignette Two: The Trees-and-Forest Syndrome 272\u003c\/p\u003e \u003cp\u003eVignette Three: The Path Not Taken 275\u003c\/p\u003e \u003cp\u003eVignette Four: Putting It All Together (Strategy, Human Capital and Finance) 284\u003c\/p\u003e \u003cp\u003eRecommended Reading 313\u003c\/p\u003e \u003cp\u003eIndex 317\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eCARL L. SHEELER, P\u003csmall\u003eH\u003c\/small\u003eD, ASA,\u003c\/b\u003e is the managing director and global group leader of family office and business strategies at Berkeley Research Group, LLC—a 900+ staff global business litigation and advisory services firm. He is also the founder of Business Valuations, Ltd.\/Allison Appraisals \u0026amp; Assessments, Inc. and co-founder of Privatus CI\u003csup\u003e3\u003c\/sup\u003eO Services, LLC. He has performed more than 1,200 high-profile litigation, valuation, and restructuring engagements from midmarket to national companies. He has testified more than 170 times on matters ranging from IRS taxpayer to shareholder disputes and assisted hundreds of clients on the measurement, creation, management, and defense of more than $50 billion in values.  \u003c\/p\u003e\u003cp\u003eCarl is also a Manager of the Two Bears Ranch, LLC, formed to receive the proceeds from the sale of this book which will be used to serve combat PTSD veterans and at-risk horses and dogs. They will be healed through equine and canine therapy. Donations, grants, and ranch operation revenues will also subsidize this cause. If interested, contact Carl at his website at \u003cb\u003ewww.carlsheeler.com\u003c\/b\u003e or \u003cb\u003ewww.twobearsranch.com\u003c\/b\u003e.  \u003c\/p\u003e\u003cp\u003eThe author can't turn lead into gold or guarantee unicorns for every business; however, he answers these questions: Why are affluent entrepreneurs able to get richer through concentrated risk? How do entrepreneurs ensure no money is left on the table? How do advisors assist owners weighing gratification versus growth options? And how do advisors optimize their relationships with business owners and each other? \u003ci\u003eEquity Value Enhancement \u003c\/i\u003efills a critical knowledge gap for professional advisors and multigenerational entrepreneurial families who know there's more to a company than revenues and profits.\u003c\/p\u003e \u003cp\u003eThere's no better time for this practical guide than now—when a single perspective cannot adequately create, sustain, and enhance concentrated wealth. Based on more than a thousand engagements with mid-market to small-cap public companies, the author's hard-earned wisdom demonstrates simple wealth preservation strategies are often losing ones. Only through governance, relationships, risks, and knowledge can one become a \"strategic-value architect\" who measures, manages, and maximizes the intangible assets of a company while leveraging and aligning human and financial capital. \u003c\/p\u003e\u003cp\u003eWhen you read \u003ci\u003eEquity Value Enhancement\u003c\/i\u003e, you will differentiate between valuation and value creation skillsets. You will understand how to identify the most common risks impacting price multiples and access expert insight into: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eHow operating within a purposeful and collaborative framework of relationships and connections creates professional value beyond technical know-how and fee-for-service mindsets\u003c\/li\u003e \u003cli\u003eThe business appraiser—insider tips for spotting a good one and the pitfalls of overlooking the importance of this key player\u003c\/li\u003e \u003cli\u003eThe role strategy and culture plays in governance and a proven approach to measuring, and mastery of governance's influence on value\u003c\/li\u003e \u003cli\u003eThe healthy ways key advisors and stakeholders can evolve into champions and stewards of value creation\u003c\/li\u003e \u003cli\u003eThe top risks (and opportunities) that are hard to measure but are greatly influenced by human and financial capital\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eIn addition to the illustrative examples in every chapter, the book has four eye-opening vignettes that connect the dots to reveal how the covered con- cepts come together and play out in the real world. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEquity Value Enhancement \u003c\/i\u003eis the must-have-at-your-fingertips reference guide for ensuring advisors and their wealthy clients share a vision and are able to make a measurable contribution to the family's success and significance from liquidity to legacy.   \u003c\/p\u003e\u003cp\u003eThe author can't turn lead into gold or guarantee unicorns for every business; however, he answers these questions: Why are affluent entrepreneurs able to get richer through concentrated risk? How do entrepreneurs ensure no money is left on the table? How do advisors assist owners weighing gratification versus growth options? And how do advisors optimize their relationships with business owners and each other? \u003ci\u003eEquity Value Enhancement\u003c\/i\u003e fills a critical knowledge gap for professional advisors and multigenerational entrepreneurial families who know there's more to a company than revenues and profits. \u003c\/p\u003e\u003cp\u003eThere's no better time for this practical guide than now—when a single perspective cannot adequately create, sustain, and enhance concentrated wealth. Based on more than a thousand engagements with mid-market to small-cap public companies, the author's hard-earned wisdom demonstrates simple wealth preservation strategies are often losing ones. Only through governance, relationships, risks, and knowledge can one become a \"strategic-value architect\" who measures, manages, and maximizes the intangible assets of a company while leveraging and aligning human and financial capital. \u003c\/p\u003e\u003cp\u003eWhen you read \u003ci\u003eEquity Value Enhancement\u003c\/i\u003e, you will differentiate between valuation and value creation skillsets. You will understand how to identify the most common risks impacting price multiples and access expert insight into: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eHow operating within a purposeful and collaborative framework of relationships and connections creates professional value beyond technical know-how and fee-for-service mindsets\u003c\/li\u003e \u003cli\u003eThe business appraiser—insider tips for spotting a good one and the pitfalls of overlooking the importance of this key player\u003c\/li\u003e \u003cli\u003eThe role strategy and culture plays in governance and a proven approach to measuring, and mastery of governance's influence on value\u003c\/li\u003e \u003cli\u003eThe healthy ways key advisors and stakeholders can evolve into champions and stewards of value creation\u003c\/li\u003e \u003cli\u003eThe top risks (and opportunities) that are hard to measure but are greatly influenced by human and financial capital\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eIn addition to the illustrative examples in every chapter, the book has four eye-opening vignettes that connect the dots to reveal how the covered concepts come together and play out in the real world. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEquity Value Enhancement\u003c\/i\u003e is the must-have-at-your-fingertips reference guide for ensuring advisors and their wealthy clients share a vision and are able to make a measurable contribution to the family's success and significance from liquidity to legacy.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989152809189,"sku":"NP9781118871003","price":85.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118871003.jpg?v=1761783010","url":"https:\/\/k12savings.com\/es\/products\/equity-value-enhancement-isbn-9781118871003","provider":"K12savings","version":"1.0","type":"link"}