1 Cover
2 Title Page The Value Equation The Value Equation A Business Guide to Wealth Creation for Entrepreneurs, Leaders & Investors byChristopher H. Volk
3 Copyright
4 Dedication
5 Preface
6 Introduction
7 Chapter 1: Free Enterprise and Wealth Creation In the Beginning Is the Idea Unicorn Likelihood Odds of Success The Six Variables Notes
8 Chapter 2: Daymond John and the First Variable Accountants vs. Entrepreneurs Variable #1: Business Investment Note
9 Chapter 3: The Capital Stack and Two More Variables The Right Side Other People's Money (OPM) Variables #2 and #3: Amount and Cost of OPM Cost of Capital vs. Cost of Equity Capital Stack Assembly Equity Sourcing Notes
10 Chapter 4: Three More Variables and Voilà! Variable #4: Sales Variable #5: Operating Profit Margin Variable #6: Annual Maintenance Capital Expense Putting the Six Variables Together Gordon Growth Model Equity Valuation The Miracle of Compounding Dissecting Investment Returns
11 Chapter 5: The Value Equation EVA and EMVA Making the V-Formula Even Simpler Solving for Other V-Formula Variables V-Formula Data Tables Note
12 Chapter 6: Business Model Evaluation STORE Capital The FAANGs Notes
13 Chapter 7: Pulling the Corporate Efficiency Levers Operating Efficiency (O) Asset Efficiency (A) Capital Efficiency (C) Six-Shot Economics Note
14 Chapter 8: Choosing from Your OPM Options Designing Your Own OPM Leasing Creating a Model to Evaluate OPM Options Real Estate as an Investment Note
15 Chapter 9: Opportunity Cost Some Opportunity Cost Illustrations Creating a Model to Evaluate Real Estate Lease Opportunity Costs
16 Chapter 10: The Final Form of OPM OPM Equity Sustainable Growth Rate Taking on OPM Equity Deciding How Much OPM Equity to Use Creating a Five-Year Model Sweetening the Deal OPM Equity Flavors OPM Equity Considerations Note
17 Chapter 11: A Look at Public Companies Determining Public Stock Equity Returns Walmart Note
18 Chapter 12: Animal Spirits Elon Musk and Tesla Stock Exchange Differences Restaurant Case Studies Lone Star Steakhouse & Saloon Boston Chicken Value Investing Notes
19 Chapter 13: Mergers and Acquisitions OPM Capital Options Solving for Equity and Company Valuation EBITDA Valuation Multiples M&A Risks and Rewards M&A Nightmares GE and M&A-Driven Growth Focusing on What Matters Notes
20 Chapter 14: The Essential Ingredient The Growing Restaurant Illustration Designed Structural Change Planned vs. Imposed Structural Change Blockbuster Video Designed Revolutionary Change Reengineering the Corporation Notes
21 Chapter 15: The Art of the Possible The Circles of Business Life Evolving Capital Choices Value vs. Momentum Investing Defining a Financial Win Some Final Thoughts Notes
22 Glossary of Terms
23 The Value Equation Framework
24 Acknowledgments
25 About the Author
26 Index
27 End User License Agreement
1 Cover
2 Table of Contents
3 Title Page The Value Equation The Value Equation A Business Guide to Wealth Creation for Entrepreneurs, Leaders & Investors byChristopher H. Volk
4 Copyright
5 Dedication
6 Preface
7 Introduction
8 Begin Reading
9 Glossary of Terms
10 The Value Equation
11 Acknowledgments
12 About the Author
13 Index
14 End User License Agreement
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Additional Praise forThe Value Equation: A Business Guide to Wealth Creation for Entrepreneurs, Leaders & Investors
“We're living through a historic boom in entrepreneurship. People are starting businesses at record rates. Fortunately, Chris Volk has written us all a manual for success.”
Joshua Brown, CEO of Ritholtz Wealth Management, star of CNBC's The Halftime Report
“Few people can rival Chris Volk's nuanced understanding of markets and business or match his record of success and commitment to evidence-based research. The Value Equation is comprehensive and comprehensible. Every page is grounded in practice, deep reflection, and market-tested experience. Chris achieves a lot; he has integrated modern corporate finance with in-the-trenches practice, and he does so in ways that are creative and illuminating. Buy this book!”
Randall Zisler, Ph.D., Chairman at Zisler Capital Associates, LLC, presenting Outsourced Research
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