An excellent article on “The 4 D’s” – Divorce, Death, Disability and Dispute
I usually like to write my own blogs but the attached article says it far better than I could have. https://www.bakertilly.com/insights/losing-value-to-the-four-ds
Value Adders – Leadership & Recurring Revenue
Two of the greatest value adders that are in your transition toolbox are a strong leadership team and a recurring revenue model. When a buyer is looking at a company for a potential purchase, it's not just about the annual EBITDA (Earnings Before Interest Taxes...
Post-Pandemic Transitions
The pandemic has changed many business owner's thoughts and plans for transitioning or exiting their business. The emotional and financial stresses created over the past year have many people wondering, "Is it really worth it?" Unfortunately, there's still no "easy...
Process and People
Which comes first, the chicken or the egg? Process or People? This is an interesting question for business owners and one that usually goes unanswered and remains open-ended. In other words, we business owners tend to do both half-assed by not committing ourselves to...
Trigger Events and the 5 D’s
It’s widely thought that approximately 50 percent of all business exits are involuntary and instead brought on by dramatic external factors. In his book, Walking to Destiny: 11 Actions an Owner Must Take to Rapidly Grow Value & Unlock Wealth, award-winning author,...
Never Ending Quest to Find The Best Talent
It’s no secret to owners of HVAC/Mechanical Contracting businesses that it is difficult to find talented, self-motivated, and loyal employees. And, of course it’s no secret just how important team members are to the short AND long-term health and success of your...
HVAC Business Exit and Emotional Readiness
Baby Boomers make up a significant number of owners of HVAC and other contracting businesses. Nearing the end of their careers, it's a hard cold fact that many of these contractors can no longer meet the physical demands of this business. Others no longer want to...
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...