The first bit of concrete feedback I recall receiving in the workplace was from a fellow colleague, a much more experienced person than I. The feedback was not part of a review, he was not my supervisor, but someone I worked with daily. I don’t know what prompted him to share the feedback. I am…
By Chris Delaney When it comes to managing their business, manufacturers need much more than historical financials to project their future revenue, profitability and liquidity. Historic numbers simply capture what has happened in the past—but traditionally do a poor job predicting where a company will be in the near (3-6 months) or distant future (1-2…
When preparing (hopefully in advance!) to sell your business, it helps to understand what buyers will looking for and asking about. While revenue and financials are well-known areas of due diligence, for companies in the product space the efficiency and riskiness of operations and supply chain are also fair game. Buyers are concerned about a…
A common area of confusion among advisors is understanding the difference between a “Main Street” business, a “Middle Market” business and a “Mom and Pop” business. Main Street Businesses The term “Main Street” is defined by the International Business Brokers’ Association and other professional intermediary organizations as any company with a Fair Market Value of…
It seems intuitive: a deal requires compromise. Sellers and buyers each have their own goals (some more realistic than others) and should come together, but each often begins the process oblivious to the other’s needs. Suppose you’ve owned an auto service station for 30 years. You are tired of all the hassles and have made…
At FIREPOWER, we’re here to help our leaders achieve growth and innovation through their biggest asset: their people. Together, let’s achieve the hardest growth goals and go beyond the surface-level approach of employee reviews by learning how to balance people, processes, and technology to establish an empowered workforce. It’s time to unlock the true potential…
For more information on the benefits of this IRC Section 453 solution, give this podcast a listen. While the topic of this episode dealt with the sale of land, the solution is also available to individuals selling their business, allowing them the unique opportunity to defer immediate tax obligations and maximize the sale through personally…
By Tim Jung A private equity firm just bought your promising firm with high hopes. You estimate that the company will be sold again for a much higher margin within 60 months. But your finance team has trouble closing the books in a timely manner. So, what does the company’s financial picture look like? You…
Long-time XPX leaders share their experience with collaboration at XPX. Moderator: Gail Harris Our panelists: Ramsey Goodrich, Laura Liss and Scott Osborn
At XPX Next, our advisor panelists share what tools they use to help their clients build realizable value. Moderator: Steve Conwell, CEO of Final Ascent LLC and XPX Dallas President Our panelists: Ray Croff for The Value Builder System, Todd Feldman for BEI and Stacy Kuxhausen for Maus Sponsors: Michael Brady (Maus), Brian Chow (The…
At XPX Next, our advisor panelists discuss the tools they use to focus the conversation on their client companies’ long-term prospects. Panel moderator: Corby Megorden, Principal at Ennis Legacy Partners Panelists: Brandon Blell (EOS), John Leonetti (The IEPA) and Craig West (Capitaliz) Sponsors: Zach Broyles (Capitaliz) and Tommy Delello (The IEPA)
At XPX Next, our inaugural national conference, Dr. Froswa’ Booker-Drew shares her research on the development of social capital. The following video is a master class on how to build and leverage one’s network for greater collaboration and success. View Dr. Booker-Drew’s full bio here. Additional resources provided by Dr. Booker-Drew: https://www.linkedin.com/pulse/coin-circle-influence-network-worksheet-shelley-hammell http://www.boardnetusa.org/
Hey there, hardworking business owner! We know you’ve been hustling and adapting like a champ over the past year. Remote work became the norm, and you made it work! But now, a moment of truth is upon us: the option to return to the office. While remote work definitely had its perks (like sweatpants and a commute…
Increasing revenue when preparing for a future sale (or pretty much anytime!) is great but an equivalent savings in operational costs, such as supply chain and manufacturing, can provide an even greater increase in company sales price since valuations are often based on multiples of EBITDA. A $1M increase in sales may improve EBITDA by…
In today’s ever-expanding “gig economy,” outsourcing entry-level tasks and job roles has become commonplace. But a growing number of organizations are exploring and adopting outsourcing for higher-level functions, too. Small to mid-sized sales organizations are increasingly outsourcing the sales function – from the sales rep role to executive sales management – and finding success with…
Starting with the End in Mind – webinar for business owners and buyers May 16 at 1PM (EDT) If you have the following questions, this webinar is for you! How do I strategically think about my end game? In other words, how do I figure out what game I am playing? What makes a business…
The Red Sea disruption forcing ships to go around Africa creates a new Supply Chain reality. It can lead to late deliveries of inventory resulting in disruptions affecting business globally. One of the noticeable issues is the Reuters report, “Tesla, Volvo Car in Europe Pause Output of Certain Car’s models.” Besides the production disruptions, late…
THE CRITICAL QUESTION FOR BUSINESS OWNERS: DEFINING SUCCESS – WHY ARE YOU ON THIS ROAD? By Ladd Hirsch on April 15, 2024 “If you don’t know where you’re going, any road will take you there.” — From Alice’s conversation with Cheshire Cat from Lewis Carroll’s Alice in Wonderland For business owners intently focused on growing their…
It’s midnight. Your recycling bin is overflowing with rejected resumes. Your eyes can barely focus on the letters in front of you — and you have this uneasy feeling that you are about to invest in another candidate who just isn’t going to work out. This has been a vicious cycle over the past several…
“I should demote myself!” joked the head of sales. “It looks like I am better at selling than at managing a sales team.” We were looking at his team’s individual sales numbers. He was selling more when he was a regular salesperson than his whole team today. We too often promote the wrong person into…
Effective March 12, 2024, New York Labor Law prohibits employers from requiring employees and job applicants to provide information about their personal accounts. If you think this sounds familiar, you are right. This idea has been in place in various states for years; now New York is joining in! Under the new legislation, “personal accounts”…
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