Running a successful business requires incredible amounts of effort, ingenuity, and capital. And when it comes to planning for the business’ future—both with and without the owner—many business owners ask, “What will this cost me?” Let’s look at the difference between the price of planning, and the costs of shooting from the hip. Understanding the […]
Emery Ellinger was recently interviewed for an article, “Investors Continue to Target HVAC, Plumbing Firms,” published by Business Observer. The article discusses the interest investors have taken in the home services industry, recognizing the value of consolidating multiple firms and creating a diverse portfolio under one corporate entity. “Here’s what private equity really likes — […]
Successful business owners are proud people—and with good reason. Their businesses are the heartbeat of the economy, and have immense effects on the lives of people inside and outside the business. With so much riding on the business’ success, it’s only natural for business owners to feel the temptation to withhold certain pieces of business […]
The current volatility in the financial markets creates an element of uncertainty that is likely to influence the value of businesses in the short to near-term. The impending increase of interest rates, along with share price fluctuation, the higher cost of energy, dislocation of supply chains, and higher inflation are set to impact dealmaking. Because […]
All successful business owners must eventually face a stark reality: One day, they will no longer run their business! If this idea makes you uneasy, you aren’t alone. Today, we’ll show you how preparing for a future you may not be ready for now can benefit you both today and when you are ready. Overcoming […]
It’s not uncommon to hear the phrase “Don’t take it personally” in terms of business decisions. But when you own a business, it’s difficult—if not impossible—to not take business decisions personally. After all, it’s likely that you, your family, and others you care about rely on your business to maintain or their lifestyles or their […]
As an Owner prepares to exit his/her business, one of the biggest things that he/she may neglect to do is enhance the value of their business— losing out on selling it for what it is worth. The value of a business can be increased in numerous ways— recurring revenue, customer satisfaction, books, and records— […]
Featured in the Business Observer on April 6th, 2022. The transition of business ownership from one generation to the next is a plan that typically crosses the mind of most owners of closely-held family businesses. While this may seem like a reasonably safe, natural option, especially if the transition is to the business owner’s child/children, […]
The strongest businesses often have written plans for how to address unexpected events and mitigate risk, known as business continuity instructions. Their owners ask questions like, “What happens if a co-owner or I die?”, “How do we protect key employees from competitors?”, and “How do we address interruptions in our supply chain?” Here are three […]
Successful businesses require many types of employees to succeed. But it’s vital to know which employees are key employees, which are important employees, and how to properly motivate the latter group. Today, we’ll share a process to help you motivate important employees who aren’t key employees. Key Employees vs. Important Employees You likely have more […]
