Over twenty years’ experience as a business appraiser.
He possesses the highly prestigious
Certified Business Appraiser designation (CBA)
conferred by the Institute of Business Appraisers.



Valuation Expert, Author, Speaker, Columnist, Business Man, Veteran

Former President, CEO and CFO of a multiple-location franchised restaurant business. Built the company from 1 unit grossing $300,000 a year to 6 restaurants, employing 275 people, serving approximately one million customers a year. Managed company finances and financial record keeping. Developed and implemented unit-level cost analysis and control systems plus extensive employee training program incorporating handbooks, manuals, audio-visual programs, seminars and performance evaluations. Created comprehensive system of company policies and procedures as well as management and hourly employee compensation programs, including financial and non-financial incentive programs.


Formerly Sergeant Tatum, First Air Cavalry Division, United States Army.

Decorated: Viet Nam Service Medal, Viet Nam Cross of Gallantry, Bronze Star


Certified Business Appraiser (CBA) - Mr. Tatum is the ONLY professional in the State Of Nevada to obtain this (very difficult to earn) credential..

Certified Valuation Analyst (CVA) conferred by the National Association of Certified Valuators and Analysts (NACVA).

Currently the only person approved by the Nevada Real Estate Division to teach the Division’s mandated 24-hour course for the Business Opportunity Brokerage Permit


‘Over 80% of small and lower middle market businesses offered for sale do not sell. In many cases, the reason no one will buy these businesses is because their historical financial statements are so poorly prepared that buyers cannot make an intelligent determination of how profitable the business has been or how likely continued profitability will be in the future.’



There is a wide range of reasons why a business appraisal may be required or desired and, depending on the purpose of the report, different levels of analysis are appropriate. That said, these different levels of analysis will all arrive at approximately the same indication of what a business is worth. The thing that is different in these different types of reports is the degree of confidence one can place in the value indication. Following are the four types of business valuation choices offered by Alliance Business Appraisal.

Comparative Market Analysis


This is our lowest cost report. This is an uncertified business broker’s calculation of a subject company’s fair market value based on a statistical analysis of published price-to-earnings multiples of generally 30 or more similar companies plus a second indication of value based on business value rules of thumb. This a very popular report for a business owner who wants a rough idea of what his or her business is worth.


This is also an uncertified report. This report includes the CMA valuation methods plus one or more additional methods. This is the ideal report for a business owner or prospective business buyer to obtain an independent professional opinion of approximately how much to ask or offer for a small business on the market for sale or about to be placed on the market for sale.

Certified Calcualtion Of Value

This is a certified business valuation report. This is a reasonably appropriate report to assist parties in negotiating an out of court agreement on a business’s fair market value pursuant to a divorce or under other potentially contentious circumstances. This is also generally a reasonable report to employ in assisting parties in negotiating the actual selling price of business’s with probable selling prices in the one million dollar territory or higher This report is limited in scope because it excludes some elements of a Conclusion of Value report.

Certified Conclusion Of Value

This is the highest level for a business valuation report. A conclusion of value report must conform with business valuations standards as promulgated by either the American Institution of Certified Public Accountants, or the Institute of Business Appraisers, or the National Association of Certified Valuators and Analysts, or the American Society of Appraisers, or The Appraisal Foundation’s Uniform Standards of Professional Appraisal Practice. This is the appropriate report when a contentious dispute over a business’s fair market value is expected to be litigated in court and for reports submitted to the IRS to accompany estate or gift tax returns.

‘The single biggest reason small business buyers and sellers fail in their respective efforts is an inability to negotiate a mutually acceptable price. Pricing a Small Business for Sale breaks this marketplace logjam by showing small business owners, business brokers, buyers, and their advisors how to develop a price and terms of sale for a small business that are fair for both the seller and the buyer..’


Book Reviews


"My name is Josh Himan. I just read Pricing a Small Business for Sale which I purchased through ValuSource. By far the best book I have ever read on connecting the dots between the Selling price and Selling Proceeds! It filled a large gap for me that I have been searching years for! I mostly work in acquisitions so I needed something practical and not just theoretical fair market value. I would say to my clients that the balance sheet makes the deal, but you did an amazing job of displaying it through your models! Very glad you shared your wisdom and I have your other books on order as we speak"


Toby, I want to thank and congratulate you for your book "Turning Black Ink into Gold". As owner of TAB Reno-Tahoe I assist small business owners and CEOs grow their businesses, increase profitability and improve their lives by leveraging local business advisory boards, private business coaching and proprietary strategic services. Your book is perhaps the most important arrow in my quiver: it helps me explain to them how to organize, understand and analyze their financial statements – as we both know, not the most well-developed or -exercised muscle for many small business owners. The benefits to my members have been remarkable, and I am grateful for your having presented the concepts in our board meetings and for making the book available to us. It’s an easy and entertaining read – I consider it required reading for any business owner – good job!


The fundamental objective of every business is to

maximize owner wealth

User Guide.2

User’s Guide for Catalyst

This objective is measured via the firm’s financial statements. The purpose of the Income Statement among all small businesses is to report the firm’s Net Profit, a historical report of profit for the past month or year and is the source document for preparing your tax return.

The single most important insight a business owner needs to glean from the Income Statement is the firm’s expected future cash flow—NOT historical net profit! Net cash flow is the lifeblood of every business. Net cash flow is a fact; net profit is only an opinion.

Catalyst is a program that restates your business’s historical financial performance in a way that will enable you to gain far better insight, control and improvement of expected future financial performance—especially expected future cash flow.

Catalyst, a product of Alliance Business Appraisal, will open your eyes to a whole new world of ways to improve the financial management of your company and maximize your wealth.