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  We got the call in May of 2014 – the lump in my wife’s breast was breast cancer.  In that moment, the world as we knew it was turned upside down.      But not for long.    Family, friends, and our church began to rally around us, providing support and inspiration to ‘fight like a girl’.  One of those friends was Steve Kalamar, who had just seen a video of a commencement speech given by... Read the Full Story
Posted by Tom Garrity on December 20, 2018
We're wrapping up our Value Builder series, where we have been talking about eight drivers of business value. This concept comes from John Warrillow the CEO of Value Builder. John discovered that when these drivers are incorporated into a business – and truly maximized – they really position a business to perform well in the marketplace. So let’s do a recap, click on each to revisit the 8... Read the Full Story
Posted by Tom Garrity on November 7, 2018
Business value is all about business transferability. That value initially started with you, your hard work and the relationships you built. Y-O-U. But the value cannot stay there with you. Why? Because the more transferable your business is, the more value it has.  And that comes down to one question: “Can your business run without you?”     One of the most important components of business... Read the Full Story
Peter Drucker, father of modern management, once said, “The purpose of a business is to create and keep a customer.”  That makes sense, but somehow we lose track of it in our pursuit of fixing problems and refining our processes.      Never forget, it’s all about the customer.    Keeping a customer starts with customer satisfaction.  Seems pretty simple, but the business world is a graveyard... Read the Full Story
  If all you do is match what your competition offers, you give your customer only one criterion on which to base their decision to buy from you – price. And that is a step into the commodity trap, a slow and painful death of lowering prices to get business.      Enter the Monopoly Control concept.  This is all about competitive advantage.  As Michael Porter, a leading strategy thought... Read the Full Story
It’s the holy grail of business – generating revenue without having to ‘resell’ the product or service.     Recurring monthly revenue provides cash flow, overhead coverage, value acceleration and peace of mind. This is a driver of business value that can provide a considerable advantage to growth, yet many businesses fail to capitalize on it.    Remember, when a buyer – whether a family... Read the Full Story
Posted by Tom Garrity on September 12, 2018
compass-point-consulting-family-business-value
In my 30+ years in business, this concept has escaped most business owners who want to transition ownership/sell – the relationship of cash flow and business value, known as the Valuation Teeter Totter.  We call it that because it reflects the relationship between cash, or the company's ability to generate cash, and the value of the business.   If you recall as a kid sitting on a teeter-totter,... Read the Full Story
Posted by Tom Garrity on August 22, 2018
One of the breakthroughs in Scaling Up your business is finding your ‘great customer’ – big orders, easy to work with, repeat.  Then all of sudden you realize they are 50% of your business, and a new problem arises – if you lose them, it will have a major impact on the business.  The relationship also begins to change, as the customer begins to have more power to press their agenda. In the... Read the Full Story
Posted by Tom Garrity on August 8, 2018
As business owners, we take great pride in our past, our business’ accomplishments and our own – association awards, anniversaries, and employee/customer success stories.     But the reality is buyers don’t buy the past. Whether they are family or a third party, the #1 thing a buyer is buying is the future stream of profits.  For the owner it is an end, but for the buyer it is a beginning.   In... Read the Full Story
Posted by Tom Garrity on July 25, 2018
Financial Performance - Is there value in your financials?
Most business owners want to create wealth, exit on their terms, and empower the next generation to continue the legacy of their blood, sweat, and tears. There is only one way to make this happen – maximize the value of your business, NOW.     Because if you wait, you will run out of runway and won’t maximize your business value. It happens all the time.  The first value driver to focus on in the... Read the Full Story
Posted by Tom Garrity on July 11, 2018

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