SETTLING DISPUTES EFFICIENTLY
The mediation procedure is cost efficient and at the same time it provides the parties with information with which the participants can better determine what the business is worth. Financial position, the value of assets, realistic projections, a working business plan and a workable marketing budget are among the items needed to come to a sound conclusion of a businesses worth. It’s important that the mediator facilitate discussions in a neutral, non-adversarial manner so that the parties can arrive at a value on their own.
The success in resolving disputes requires interviews with all the parties involved, both together and then separately. The initial goal is to establish an atmosphere of neutrality and create a comfortable environment for all participants. Its important to stress that professional, respectful behavior is required at all times. The next step in the process is to learn how the business works. This requires interviews with key personnel, where confidentially on both sides is assured. This is the best way to find out what’s really going on and who really does what.
The key to a successful resolution of disputes between business owners is establishing clear, open lines of communication. The objective of the mediation is to satisfy all parties and differences should be communicated before hand so everyone knows what to expect. In many instances, everyone is satisfied with the outcome but sometimes that is not the case.
I am often asked to resolve disputes by providing a “back of the matchbook” value for a business. The reality is that USPAP does not permit a professional to give “ball park” estimates of value. As an alternative to expensive, time consuming appraisals and valuations, I can assist business owners in mediating disputes by facilitating discussions that lead to a workable, mutually agreeable solution.
Email Arthur@theroartgroup.com regarding conflicts you might be dealing with. I am pleased to offer a complimentary consultation.