Part by part
Ten parts and an appendix, in the order an owner asks the questions: what it’s worth, what to do, why, and what buyers pay for.
Four questions, in order
The report is organized around the four questions an owner asks, in the order they ask them. Each part answers one. Choose a question to see the parts that answer it.
- Part 1 · Executive summaryThe number, how firm it is, and the five things to do firstOn the 15-minute path
- Part 7 · The valuationSeveral methods, one conclusion, the bridge to equity, and the routes to a saleOn the 15-minute path
- Part 2 · The next 90 daysNinety days of work that needs no new systemsOn the 15-minute path
- Part 3 · The 12–36 month planFive objectives, each traced to the engine and to a sale
- Part 4 · GatesPass/fail items a buyer checks before talking priceOn the 15-minute path
- Part 5 · Your business on the mapEight buyer drivers against the industry bandOn the 15-minute path
- Part 6 · Financial pictureThree years and the trailing twelve months, normalized
- Part 8 · How we got thereDiscount rate, states of the world, forecast, checks
- Part 9 · What moves the valueHow much each input moves the conclusion
- AppendixDriver-tree diagrams, every input and its source, the method
- Part 10 · Industry landscapeHow the industry makes money, who buys, at what price
The 15-minute path
Five parts carry the whole argument: the summary, the next 90 days, the gates, your business on the map, and the valuation. If you read nothing else, read those. Everything else is the evidence behind them.
| Part | Title | What it answers | Starts on page | 15-min path |
|---|---|---|---|---|
| 1 | Executive summary | The number, how firm it is, and the five things to do first | 6 | ● |
| 2 | The next 90 days | Ninety days of work that needs no new systems | 11 | ● |
| 3 | The 12–36 month plan | Five objectives, each traced to the engine and to a sale | 15 | |
| 4 | Gates | Pass/fail items a buyer checks before talking price | 51 | ● |
| 5 | Your business on the map | Eight buyer drivers against the industry band | 56 | ● |
| 6 | Financial picture | Three years and the trailing twelve months, normalized | 62 | |
| 7 | The valuation | Several methods, one conclusion, the bridge to equity, and the routes to a sale | 79 | ● |
| 8 | How we got there | Discount rate, states of the world, forecast, checks | 101 | |
| 9 | What moves the value | How much each input moves the conclusion | 114 | |
| 10 | Industry landscape | How the industry makes money, who buys, at what price | 117 | |
| App. | Appendix | Driver-tree diagrams, every input and its source, the method | 123 |
Page numbers are the sample report’s. Highlighted rows are the 15-minute path.
What the pages look like
The report reads in your browser and prints to PDF. These are pages from the sample.
How to read any page
Every number carries a mark that says where it came from, and every page carries a stamp that says which run produced it.
Owner figureAdvisor inferenceIndustry median
- Owner figure: supplied by the company. In the range of outcomes it varies by ±5%.
- Advisor inference: derived from your other answers, and marked for you to confirm. It varies by ±15%.
- Industry median: the benchmark, untouched. It varies across the industry’s full band and carries no weight in how firm the number is.
The stamp at the foot of each page reads like this: engine 1.2 · policy 1.2 · inputs f7341e · 88 / 157. The engine version, the policy version and a fingerprint of the inputs mean anyone can rerun the same inputs and get the same page.
- Fingerprint. A short hash of every input value and its source mark. Change one input and the fingerprint changes, so two reports with the same stamp came from the same inputs.
- Engine and policy. Printed separately because they change separately: the engine is the arithmetic, the policy is the frozen table of rates, medians and tests it reads.
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