Here are some findings from a U.S. membership survey recently conducted by TEC Worldwide Inc., an international CEO-education and -development organization based in San Diego. The 258 respondents are chief executives of small to large companies.
Q: Have you ever hired an independent appraiser to conduct a valuation of your company?
Q: If you have hired an outside appraiser, please list all reasons that apply:
Company merger or sale
Curiosity about the value of the business
Bank or investor financing
Growth management strategies
Planning to go public
Q: If you haven't hired an outside appraiser, why not?
Trust your own judgment
Source: Inc. magazine-Tec Business Valuation Survey, September 1998.