Scott Ivers knows that determining the worth of a private business or company is a lot more involved than doing so for a publicly traded company, which always has a dollar value associated with its stock.

Ivers, a director in the business valuation group of RSM McGladrey Inc., is qualified to come up with a dollar figure for companies and other assets. He approaches each situation as unique, and says, “You can’t just look at the numbers.”

“What interests me a lot about it is that you see a lot more aspects of the business besides the financial records,” Ivers said. “You inquire about the marketing strategies, its challenges and opportunities to truly understand what the value of the company is.”

Working in valuations since 1998, he often meets the founders of companies, people who have poured their lives into their business and are ready to let a younger generation take over.

“Many times, you find with people who are entrepreneurs that a significant part of their assets are invested in their company,” Ivers said. “Maybe they’ve never thought of selling their business, but somebody comes in one day and makes an offer to buy it. They need to know what their business is worth as they consider selling.”

Ivers said it’s rewarding to provide this service to people and give them the information they need to move forward. Litigation support is another area where Ivers gets involved. Attorneys seek his assistance in patent-infringement and breach-of-contract cases in calculating damages.

“Litigation support is needed when one is financially injured because somebody did something to them in a business setting,” Ivers said. “In a lot of ways it’s very investigative. You have to ask a lot of questions in a lot of different ways to try to get the best picture possible.”

Ivers said that it’s also crucial to stay abreast of the industry trends and business influences that may play a role in the future. “We’re in business to do the best we can for our clients and to make sure that we’re providing value to them,” he said.

Ivers has taken more than 200 hours of continuing education courses to help him keep informed on the direction valuation standards are taking. He has earned his accreditation for senior appraiser in business valuations from the American Society of Appraisers and is active in numerous professional organizations. In 2002, he received his M.B.A from Drake University, strengthening his base of knowledge.

“The valuation area is continually evolving, as well as the standards that we live by,” he said. “We tell people to stay on top of the valuation area because the work that we do may not be looked at by someone for years, and you want your work to applicable down the road.”