Resources

For Value, Seek Boundaries Not Burnout

Posted on May 24th, 2016

Too often, I hear from business owners who “vacation” with their family, only to stay back in the hotel glued to a computer or phone while their spouse and kids have fun without them.

But working harder isn’t necessarily a good thing, at least not long-term. By setting boundaries and finding the right work-life balance, I’m able to bring more energy and focus to my work. It makes me a better leader to my employees and a better advisor to my clients.

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Take a Vacation to Build Your Business

Posted on May 24th, 2016

Spring break is close ahead, and as I prepare to take some time off with my family I’m remembering several years ago when a vacation like this was harder to come by. But as my team and company have continued to evolve and mature, I’m able to spend more time away from the office.

Taking a break benefits both you and your team. You want to build a business that can operate without you. Sometimes that means you need to step away so your people have room to stretch and take on new roles.

If you have to be on the phone all the time, constantly checking in and working on vacation, you may actually be hurting the value of your business. A business that is overly-dependent on the owner is not as attractive to a potential buyer. take on new roles.

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Know if Multiple is Apple or Orange

Posted on May 24th, 2016

As the old saying goes, you can’t compare apples to oranges. I always think of that when business owners talk about the multiple they hope to receive when selling their business.

Sometimes, a business owner hears someone got a multiple of 6x or 8x for their business. So of course they want the same results. But what they don’t know—what doesn’t get shared over a round of beers—is what that number was multiplied by.

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A Good Time For Good Communication

Posted on May 24th, 2016

Our team at Cornerstone is going through a leadership transformation class with Initiative One. And one of the things we’ve learned is the value of impeccable communication, internally and externally.

We have to remember that most business sellers don’t know what they don’t know. We can’t take anything for granted because assumptions can lead to unpleasant surprises that stop us from getting to the closing table.

Here’s what impeccable communication looks like when selling your business:

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Two Out of Three Ain’t Bad

Posted on May 17th, 2016

We’re doing our strategic planning and talking about our brand at Cornerstone. As our facilitator pointed out, there are three ways to compete as a business: price, quality, and service. Good companies compete on one. Great companies choose two. But you can’t do all three on a sustainable basis.

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Seller Financing Benefits Both Sides of Transaction

Posted on May 3rd, 2016

If you’re considering selling your business, don’t expect to walk away with all cash at close. This isn’t like selling a house. Most deals involve some sort of alternative financing. You may be asked to accept an earn out, roll over a portion of equity, or (most commonly) provide seller financing.

Even when the M&A market is strong and lenders are aggressively financing business acquisitions, seller financing is often still part of the deal structure. And when there’s a downturn or lenders tighten up, then seller financing is even more prevalent and important.

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How to Work with a Seller After You Buy Their Company

Posted on April 6th, 2016

When buying a company, one key factor in your success is the transition that happens immediately afterwards. You need time with the previous owner to understand how and why they operated the business the way they did. And you need their support to transition customer relationships.

Your relationship with the previous owner will vary depending on both of your goals.

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You Can Help The Stars Align So Business Will Sell

Posted on March 3rd, 2016

When it comes to selling your business, you hang some of those stars in the sky on your own, by building up sales, minimizing risk, and developing a strong leadership team. But other stars must line up on their own, due to market forces you can’t control.

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How to Work With Sellers After You Buy Their Company

Posted on February 17th, 2016

When buying a company, one key factor in your success is the transition that happens immediately afterwards. You need time with the previous owner to understand how and why they operated the business the way they did. And you need their support to transition customer relationships. 

By Scott Bushkie, Cornerstone Business Services, Inc. | February 17, 2016

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Selling A Small Business That Isn’t So Small: An Interview With Scott Bushkie

Posted on February 8th, 2016

If your business has $10 million in annual revenue, who do you turn to help sell your business? After all, you are still technically a small business but are worth more than many small business broker’s are used to handling. One place to turn is Cornerstone Business Services. The company specializes in selling companies with $2 million to $100 million in revenue or $500K to $10 million + in EBITDA. In 2015, the company was involved in 12 completed transactions.

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