Myrtle Beach, SC & Miami, FL June 1, 2006—Highland Global, LLC is pleased to announce the release its second book, The Seven Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies, by Highland Global founder Robert M. Clinger III. The Seven Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies is Mr. Clinger’s second book in the Seven Deadly Sins series. The first book in the series, The Seven Deadly Sins of Business Valuation, was released in late 2005.
Frequent and thorough analysis of value creation in closely held or family controlled businesses is critical to effective ongoing management of the enterprise. Such monitoring will reveal the success or failure of the management in meeting the strategic goals and in creating value and wealth for the shareholders. Like their original book, The Seven Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies identifies and discusses some of the challenges inherent in monitoring value creation and illustrates with examples and case studies several of the most common valuation errors that a financial analyst may make in analyzing a closely held or family controlled business. In addition, the authors discuss the seven characteristics of closely held or family controlled businesses that define a firm’s ability to create transgenerational wealth: a clearly defined vision, professionalization of management, professionalization of ownership, effective communication, strong corporate governance, an established succession plan, and a comprehensive strategic plan.
Senior management of family controlled companies and their advisors, business appraisers, attorneys, professors, students, accountants, and other business and finance professionals may find this book useful in understanding some of the challenges involved in the preparation of a valuation of a closely held business.
Robert M. Clinger III stated the following regarding publication of The Seven Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies:
“I am very excited about the release of The Seven Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies. This latest book is focused particularly on the unique challenges that confront senior management of family controlled businesses and the impact these challenges may have upon the valuation of the firm. I am confident that owners and the management team of closely held or family controlled businesses will find this book a very useful tool in understanding the importance of excelling in the seven characteristics associated with successful transgenerational wealth creation in order to create value for existing shareholders and subsequent generations of owners and managers.”
The book is available in hardback, paperback, and e-book format through Highland Global’s website and Amazon.com.