The financial health of your business is important. Do you know how to measure it accurately? While auction professionals count money every day, the complex factors that build the full value of an auction business can be challenging to understand. This class unlocks how to understand your client and how they view the auction results from a financial perspective, allowing you to close more sales. You will learn how to do a valuation of your auction business model to maximize your business value.
Upon completing this class, you will be able to:
- Describe basic financial reporting for your auction business and its relevance to client goals
- Identify the time value of money and its potential to meet client goals through an auction
- Monetize the business model elements that create value for your business
- Identify important indicators to measure and track in your business to gauge financial health