Are you a business owner who wants to know what the concept of goodwill is and how to apply it to your business? Read on… I will be starting a mini-series based on this important topic; my hope is that you will be able to learn something about the concept that you might be able […]
A few thoughts:Recall from last week’s post that goodwill is the value of your business that is not represented on your balance sheet- the location of your business, great employees, your own professional stature, and the longevity of your company are all included in the goodwill that your company possesses. Let’s drill down a little beyond the […]
A few thoughts:Recall from last week’s blog entry that the goodwill portion of the value of your business can be divided into two parts- personal and professional goodwill. In order to crystallize the importance of the difference between the two, let’s talk about a real-life application of the goodwill concept. Consider the following scenario: You are the […]
A few thoughts:For business owners who are contemplating a divorce, the issue of personal goodwill takes on tremendous significance. For two businesses of identical gross value, the type of business, the extent to which the business owner is involved in the business operations, and a host of other issues, may mean that one is worth a lot […]
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