Questions & Answers

Q: I'm trying to update the "Budget by Month Master" sheet and it won't allow me to change the Jan-04 month to Jan-05 month for our 2005 forecast. What am I doing wrong?

A: On the Budget by Month Master sheet the cell D6 is the input for the first month of the budget. This cell is blue and is unprotected. You should be able to select it and input your month (in date format ie 1/1/05). Following month cells are then calculated from this initial input.

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Q: Is it possible to expand the categories for variable and fixed costs. The categories provided are extremely limiting. I can easily envision the need to have several dozen categories to make this a useful tool?

A: The Forecast and Budget builder is specifically designed as a high level tool (ie with limited categories). This decreases the complexity and increases the ease of use. We do have a Budget Tool Business Excel https://bizpep.com/BudgetTool.html which allows you to freely add as many categories as you like to build a detailed budget. Many clients use the Forecast and Budget builder to develop a high level forecast and use the insight gained to then generate a detailed budget using the Budget Tool Business.

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Q: I recently purchased a non-commercial license to use your Business Valuation Software in order to value several of my business interests. I was greatly impressed and am considering the possibility of using the software commercially. Can you please provide detail of the differences between the two products. for example, does the header "Business Valuation Model Excel 32" disappear in the commercial reports? Is it possible to upgrade to the commercial version and receive credit for what was paid recently?

A: Thank you for your feedback. You can upgrade from a Non-Commercial license to a Commercial license at https://bizpep.com/upgrade.html . This allows you to upgrade and receive a credit for existing licenses. Upon request with a Commercial license we can provide an unprotected software version allowing you to view the formula applied to enhance your knowledge of software operation (macros remain protected) and undertake minor refinements (ie headings etc). Please note that Bizpep retain full copyright and intellectual property rights at all times.

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Q: Is your software suitable for a book of life insurance / mutual Fund business, in order to determine the selling price?

A: The design and methodology of the Business Valuation model makes it applicable to any business. Because it uses market indicators to develop a forecast and the valuation is based on the forecast it can be applied to any business. It is available free for 7 day evaluation so you can give it a test run from https://bizpep.com/businessvaluation.html .

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Q: Does this model allow one to determine the value of a business you would like to sell; i.e., the suggested selling price range?

A: Yes, this is one of the things it is designed for (as well as buying). When you input relative indicators a forecast is generated. From this a valuation range is determined. If you are selling you should approach it from a generic buyers perspective but use your industry/business knowledge assist in developing the relative indicators. Once you have a valuation range use the valuation model to substantiate your selling price to the potential purchaser, also considering an individual purchaser there maybe areas where they can add additional value (ie the business is worth more to them). For External Earnings it is probably best to use an indicative value for the type of person that would consider buying your business (possibly someone like yourself?). However keep in mind that particularly if you have a lifestyle business the buyer may consider a smaller salary acceptable than they may achieve otherwise.

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