In preparing their valuation reports, business appraisers may want to consider adopting “Kaizen
,” the post-War Japanese practice of continuous daily improvement, said attorney Paul Hood
during BVR’s recent webinar, “The Business Appraisal Report: Perfecting the Art
." A second path to improvement may be to “adopt a reviewer’s mentality,” added co-presenter Timothy Lee
(Mercer Capital). “We may be satisfied, but with the stakeholder there is little that is convincing,” Lee said. “Lay the groundwork: own the basic facts and circumstances of the subject business,” Hood advised. And watch your writing style – “just say it so the reader can just read it,” he said.
Finally, while “offshoring” BV work is still a real threat to the profession, both presenters stressed using less “robotics”—fewer boilerplate forms and checklists. “We can easily gather data, but the future [of the profession] is how we differentiate the work product from someone else’s,” Lee said.
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