Insights: Strategy & Corporate Development
What the business is worth, how it should be financed, and where it goes next.
What Your Business is Actually Worth, and Why Owners Get It Wrong
Most business owners overvalue their companies for understandable reasons. The market does not care about those reasons. Here is how to close the gap.
Qualification Is the Gate, and It Is Also the Price
Aerospace and defense work pays better and it's harder to lose. The catch is that the same qualifications that let you quote it also decide how long you wait to get paid, and most shops only price the first half.
Where the Next Dollar Goes
Most owners allocate capital by mood. A strong quarter buys equipment, a nervous one pays down the line. Strung together over 10 years, that is not a strategy. It is a series of reactions that happened to spend all the money.
The Price on the Term Sheet Is Not the Price
Owners spend months arguing about the multiple and almost no time on the words underneath it. The structure decides how much of the headline is real, how much is a promise, and how long you wait to learn the difference.
The Capital Stack Nobody Draws for You
A deal almost never gets paid for with one kind of money. It gets built out of layers, each with its own price and its own claim on the business. Here is how the stack actually works.
The Service Base Is the Asset
Two HVAC shops with the same revenue can sell for wildly different multiples. The gap is the maintenance book, and it earns its keep long before it ever sells.
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