Intangibles Assets

What Are Intangible Assets? Instead of asking that question, maybe we start with "what are the Tangible Assets?"  Business owners can wrap their arms around those much easier.  The simplest tangible asset to grasp is Net Income.  It's the amount of money the company...

We Know What We Should Be Doing

It's Not Rocket ScienceOur process at Contractor Succession usually launches with an on-site client visit that we affectionately term our "State-of-the-Union Assessment".  This involves an in-depth analysis of the business from soup to nuts.  As part of that visit, we...

Does the Customer Really Come First?

Reconsider Your Priorities This is a repost of a blog I did for my mechanical business, Goodco Mechanical.  It has great relevance to anyone in the service industry.  Read on.... When I started Goodco Mechanical in my dining room in 2008, one of the first things I did...

What’s My Business Worth?

It's only worth HOW MUCH???One of the biggest challenges we face is discussing the potential value of someone's business.  In fact, "What's my business worth?" is usually in the first 15 minutes of any discussion.  It's oftentimes the major reason a client considers...

Transferring to Family or Employees

Options for Transferring to Family or EmployeesWhen considering your options for exiting your business, many owners look to transfer to family members or existing employees.  The desire to leave a legacy for those who have been with you all along may outweigh your...

Learning From Other People’s Mistakes

Learning From Other People's MistakesA long time ago, a smart person told me that I needed to "learn from my own mistakes".  I thought that was pretty solid advise until I heard a better version from an even smarter person that told me to "learn from other people's...

New Year’s Resolutions: Do They Work?

In my opinion, New Year's resolutions are pretty worthless.  I can't tell you how many years I've "committed" to dropping weight, eating better, saving more, working harder, blah, blah, blah.  Why was it that these well-meaning resolutions never took root?  Well,...

Did 2018 end the way you hoped?

Did 2018 end like you wanted?Are you any closer to your "end-game" than you were 1 year ago.  This is a common theme for most contractor business owners.  We are crazy-busy all year long than scratch our heads at the end of the year and say, "where did it go?"  You've...

Is a Coach Necessary?

Do I Really Need a Coach?I've been in the mechanical contracting business now for over 33 years. Holy Crap am I getting old? Despite my advancing age (stuff's not falling off yet), I realize every day how many smart people are out there that know a whole lot more than...