See where you can improve your deal - making to amp up the long -
term value of your business and your overall wealth.
Known as the CMIT Solutions Affiliate program, independents can take advantage of the proven CMIT Solutions sales and marketing processes, leading technology vendor relationships, and unique managed services delivery platforms to grow their businesses and increase the long -
term value of their business as an asset.
A couple years back, I wrote a series on the topic of returns on capital (ROIC) and how significant its impact is on the long -
term value of a business.
At Oakmark, we believe CEOs should have one goal: to maximize the long -
term value of the business (including dividends), adjusted for net - debt and measured on a per - share basis.
That was a long digression, but here's the point: focus on the long
term value of the business relationship.
Obviously, most value investors have timeframes that are much longer than the average, but I still think a lot of the language and discussion points I hear are very focused on short - term data points, events, or catalysts that have lots to do with where the stock price might go in the next few months, but little to do with the long -
term value of the business.
Being off on a company's growth rate by 1 or 2 percentage points can cause a dramatic shift in the long -
term value of a business.
«Our months - long review of various options led us to the conclusion that the REIT structure represents the best pathway to realize the long -
term value of our business and to position the Gaylord brand for continued growth,» Gaylord Chairman & CEO Colin V. Reed said in a statement.
Not exact matches
As a veteran, Wallace understands the
value of growing a small
business for a potential long
term partnership, which is why he's given me his cell and personal email if I need to reach out.
But at least some
of what the service is going through raises questions not just about its core
value — namely, that it's run by musicians for musicians — but also about its long -
term prospects as a competitive streaming
business.
The
value of commercial and industrial loans
of less than $ 1 million — a common proxy for small
business lending — was 17 percent lower in June
of this year than it was at the beginning
of the recovery — when measured in inflation adjusted
terms.
«The long -
term bet is that by enabling people to have good organic interactions with
businesses, that will end up being a massive multiplier on the
value of the monetization down the road, when we really work on that, and really focus on that in a bigger way,» Zuckerberg said.
Simply put, a deal that offers participating preferred stock creates a lower implied valuation for your
business than a plain vanilla
term sheet with no participation feature, because the investors will end up with a disporportionately higher piece
of the
value created.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired
businesses into United Technologies» existing
businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new
business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near
term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their
businesses while the merger agreement is in effect; (21) risks relating to the
value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
(Polman says that the board made clear to the interlopers that Unilever's «
business model
of longer -
term - compounded
value creation, by focusing on multiple stakeholders,» is the model that the board still believes in — «even when the pressure is a little higher.»)
Instead
of treating customers acquired over the Black Friday / Cyber Monday weekend as customers with long -
term potential
value, ecommerce
businesses and retailers are taking a «flash - sales» - type approach to try to get more sales for just that weekend (and perhaps a few days after).
The more you can offer and build
value, be it in
terms of information, insight into your process or products, or even why and how you are owning and running your
business, the faster (and more organically) your networks will grow.
At the heart
of most
business compromises is the tension between long -
term values and short -
term needs.
Investing in marketing, promotional stuffs and right resources is always wise choice
of business because it gives good return and
value in long
term.
Sainsbury's will pay Walmart # 2.9 billion ($ 3.9 billion) in cash and give the retail giant 42 %
of shares
of the combined
business under the
terms of the deal,
valuing Asda at $ 10 billion (# 7.3 billion).
His deep -
value philosophy can be boiled down to four points: he's looking for high - quality stocks that protect against the downside; he wants
businesses where short -
term issues have caused investors to abandon the company; he wants to wait until valuations are «out -
of - this - world» cheap, and he tries not to pay attention to macro issues like eurozone debt or Chinese growth.
, this sort
of effect is disastrous for
businesses that depend on customers deriving long -
term value (productivity, convenience, etc.) from their product (s).
It is in some ways genuinely refreshing to hear a CEO speak this way, in
terms of responsibilities and moral obligations that transcend the narrow dogma
of shareholder
value and Milton Friedman's shallow remark that «the social responsibility
of business is to increase its profits.»
As discussed in the CD&A under «Compensation Components» and «Achieving Compensation Objectives — Pay for Performance,» we have provided incentive compensation in the form
of an annual cash incentive award based on Company,
business line and individual qualitative performance results for each fiscal year, and long -
term incentive compensation generally in the form
of stock option grants and, in certain circumstances, RSRs to reward our SEOs for contribution to growth in long -
term stockholder
value.
At the end
of the predetermined lease
term, depending upon the lease, the
business owner may be able to purchase the equipment at fair market
value, or a predetermined amount — sometimes for as little as $ 1.
«We actually believe that without significant change to the culture at Yahoo, the core
business could just as likely (if not more likely) decline in
value going forward, thereby making a near -
term sale
of the core
business even more clearly the correct decision,» Mr. Smith wrote in the letter.
Other risks and uncertainties include the timing and likelihood
of completion
of the proposed transactions between ILG and MVW, including the timing, receipt and
terms and conditions
of any required governmental and regulatory approvals for the proposed transactions that could reduce anticipated benefits or cause the parties to abandon the transactions; the possibility that ILG's stockholders may not approve the proposed transactions; the possibility that MVW's stockholders may not approve the proposed transactions; the possibility that the expected synergies and
value creation from the proposed transactions will not be realized or will not be realized within the expected time period; the risk that the
businesses of ILG and MVW will not be integrated successfully; disruption from the proposed transactions making it more difficult to maintain
business and operational relationships; the risk that unexpected costs will be incurred; the ability to retain key personnel; the availability
of financing; the possibility that the proposed transactions do not close, including due to the failure to satisfy the closing conditions; as well as more specific risks and uncertainties.
This leads to a fundamental belief among
value investors that although the stock market may, in the short -
term, wildly depart from the fundamentals
of a
business, in the long - run the fundamentals are all that matter.
The way you (properly)
value a
business is to weigh the price against the long -
term stream
of cash flows that you expect that
business to deliver into your hands over time.
According to Richard Passikoff, founder
of Brand Keys, though this type
of business model isn't as easy to pull off as it looks, being able to capitalize on the unsold products
of other brands has enabled off - chain stores to offer
value and pose a long -
term challenge to others in the market.
Amazon's acquisition
of Whole Foods — a deal
valued at $ 13.7 billion — last year forced grocers and retailers alike to come to
terms with the holes in their
businesses.
There's much higher levels
of interest in testing the hypothesis
of a deal's
value in
terms of technological transformation - skills, products, services,
business models.
In a statement, Disney CEO Bob Iger bragged that the results «once again reflect the strength
of our brands and high quality content and demonstrate that our proven franchise strategy creates long -
term value across all
of our
businesses.»
Many small
business owners turn to factoring as a useful short -
term solution because it works extremely quickly — once you and the lender agree on the
value of your receivables, you can receive the cash within one to two days.
This notion
of a conscious approach to
value creation is built on the fundamental premise that every
business has a deeper purpose than short -
term profit maximization.
Any
business that thinks long -
term and follows sound
business principles creates
value for shareholders and for society through its activities e.g. in
terms of jobs for workers, taxes to support public services, and economic activity in general.
Clearly the Investment Masters understand the
value of holding ownership in great
businesses for the long
term.
The strength
of our brand, an unparalleled connection with our consumers and the continuation
of investments in our fastest growing
businesses — footwear, international and direct - to - consumer — give us great confidence in our ability to navigate the current retail environment, execute against our long -
term growth strategy and create
value to our shareholders.
While a decline in near -
term commodity prices reduced our estimate
of value due to lost interim cash flows, the stock's decline has significantly exceeded what we think is the true change in the company's underlying
business value.
Long -
term valuation (LTV) is the total
value of a customer's relationship with a
business over the lifetime
of that relationship.
Increasingly, CFOs are making the link between measuring the environmental, social and cultural impact
of their activities and long -
term business value.
We are certainly not pleased with near -
term underperformance, but we remain confident that our focus on
business value and our extended investment time horizon will position the Fund for favorable results over longer periods
of time.
We continue to do our best to optimize the returns
of the Fund by purchasing undervalued companies that are growing their intrinsic
value over time and that are managed by individuals who think and act like long -
term owners
of the
business.
So whenever the people closest and dearest to you in your life want to invest in your company, do advise them
of the risk and pick the best possible
term sheet that will create the most
value for them, whether Google acquires the
business or not.
Competitive advantage drives the duration
of excess ROIC, which increases long -
term business value
In this video I'm going to show you a great way to get better keywords out
of the Google Adwords Keyword tool if you haven't seen the previous video you'll want to watch that video where I show you how to get better search volume numbers from both google adwords as well as some other sources to get better estimates for the amount
of times that keyword is searched each month i'll put a link in the video here so that you can click that video if you haven't seen that yet let's get started now if you want better results from the Google Adwords Keyword planner you have to work a little differently than everyone else so most people come to the Google Adwords Keyword planner and they simply click on this search for new keywords using a phrase, website, or category and then they just paste a bunch
of keywords into this text box so let's say as an example that these were our starting keywords ok so let's say we have the keywords «fishing tips» «fishing tackle» «fishing for bass» «fishing rod» and «fishing reel» what most people do is that they would simply come here and they would copy this they would paste it into this field and they would hit Search and they would get back their results and that's fine but one little tip that will help you get much better results is only paste in one key word at a time so instead
of pasting all these in just paste in the single keyword «fishing tips» and then proceed from there to pull that those results up and you'll get this back if you click right here you can download the ideas you'll notice they're 701 here listed so if we download these ideas will download them to a CSV file comma separated
value file you can open that with notepad you can open it with excel open office when you're finished putting all your ideas and individually you will now have a bunch
of different common separate
value files containing the keywords and the search volume I've already gone ahead and done that just to save time on the video but i want to show you what happens when you use this method versus just pasting in the keywords like most people do so here you'll see this column here represents these two columns here represent if we had pasted in all
of the keywords at once and click search at google adwords keyword tool is one that showed you and you'll see we have a total
of 706 results we got back when we did that this column this column here represents what happens when we paste one key word at a time and then download the file paste the second keyword download the file and then we just simply grab those
terms and copy them and you'll see now we have a total
of 1,915 keywords now what I've done with the highlighting here is to show you anything that's not highlighted in this column is a keyword we would not have gotten back had we pasted in all the keywords at once you can see there's lots and lots
of keywords here we would not have seen know your competitors and the company's you're competing against they're using probably the simple method just pasting a bunch
of keywords sitting search and then looking through those
terms to find their
terms if you will take the extra few minutes it takes doesn't take long to simply go in and paste one key word at a time you will get back a ton
of great keywords that others aren't seeing because they're using this other method and in actuality when I ran the numbers there's a total
of 3.8 million searches represented by these keywords here that you would miss if you simply just copied and pasted those five
terms and hit search the Google Adwords Keyword planner once you've used the google keyword planner to find lots
of new keyword ideas what do you do with all those keywords the biggest problem is that you can there are so many keyword tools out there you can get hundreds
of thousands
of keywords by spending a day using the different keyword tools but what you do with all that information the answer is a cool tool called keyword grouper pro and Keyword Grouper Pro is completely free there's not even an opt in you just simply download the tool now at the top
of this video there's a link if you click that i'll show you exactly how to use keyword grouper pro doesn't matter where you got your keywords from i'm going to show you how to take those keywords group them into tight groups and then you can set up your campaigns and know exactly which groups represent buyers and once you know where the buyers are at you can simply focus your marketing in that area to make more profit in your
business
In the short -
term, the market's tide will raise and lower all boats, but
value investing works in the long - run, and unless you're in a late 1990's type mania, I think it probably is best to completely ignore the overall market and just focus on looking for undervalued stocks
of individual companies that you think will be doing more
business in five years than they are now.
Though there may be some risk that the
value of the house, the income from a
business, or the return on stocks will not turn out as hoped, the loan will be paid off in a specified amount
of time, and the interest rate will be locked in for the
term.
«Buying a company below its historic average or intrinsic
value (as that is how low quality
businesses will often be
valued when they are close to the nadir
of their capital cycle) is a good starting point for any investment and has a track record
of producing excess long -
term returns» Marathon Asset Management
We try to accomplish this by keeping our intrinsic
value estimates grounded in data, research and analysis, and a long -
term understanding
of the qualitative
business fundamentals to guide our buy, sell, and hold decisions.