Even when business is going great and you have a full backlog, in the background lurks the stress to find your next lead. Even truer when times are tough! Without new leads, a business cannot increase its revenues. Right? Wrong! Companies that depend on one-time sales or projects must constantly seek new leads. This is [...]
A manager is emailed the company’s budget for this year and he looks at it with a smile. He files it away into the Budget folder. “Finally, we’re done with that for another year,” he says. Traditionally, budgets are completed once a year and forgot about. In today’s rapidly changing business environment, “set it and [...]
A red flag for a buyer is a company with a few customers or even just one (yes, that does happen). If one or two customers leave, how much is the company now worth? Little to nothing. Would you buy a company where sales and profits are tied to a few customers, regardless of how [...]
I walked through the aisles of Babies “R” Us™ to get to the exorbitantly cheap baby formula in the back of the store. On my way, I stumbled upon a toy I knew my son would love. It wasn’t what I came for, but I picked it up anyway. Without knowing, I fell right into [...]
Massive layoffs, record applications for unemployment, “Closed” signs displayed on businesses we love most. All are commonplace in today’s pandemic world. All businesses are impacted by this pandemic. ESOP companies show more success in dealing with it. Recent research from Rutgers University proves this. At ESOP owned companies, the median job loss was 4 percent. [...]
A Cautionary Tale… A client heard some horrible news: his wife was diagnosed with an illness that would end her life. Doctors advised that she should have 10-15 years of reasonable health before her early demise. This man is an entrepreneur. He turns the most difficult obstacles into opportunities. He didn’t sit and mope. He [...]
Over the past 30+ years, I have completed valuations for thousands of small businesses. I have seen businesses rise to the top and become successful beyond the owner’s dreams. I have seen many seemingly great businesses with passionate owners fail. It’s hard not to question why. Running a business is tricky. There is no cookie-cutter [...]
You open up your iPhone™ to a new notification: YOUR PHONE IS IN NEED OF AN UPDATE. But you can’t update it now. At least that’s what you tell yourself. You need it now to check that important email or play that last round of Candy Crush™. After a few weeks, you begin to [...]
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