By Tom Schramski, PhD
Volume 1 Issue 1, January 28, 2014
A friend who was planning to transition from his business recently asked me how much it was worth. My response? “To whom?” After indicating that he wanted to know for “me,” I answered “are you buying it or are you looking for someone else to acquire it?”
I wasn’t trying to be rude, but the point was made. We naturally focus on our assessment of a situation, especially when it is a business that we birthed, nurtured, and grew to some success through making payroll at the last moment and working 80 hours per week. We have an emotional attachment that is understandable, but it is only one perspective. When we look at other perspectives, other faces appear – potential buyers, lenders, family members, customers, and payers. Value has a data basis, but is always subject to the eye of the beholder.
There are some very good reasons to see the other faces:
It may sound funny, but customers and buyers want to like you, and maybe even love your company. Margaret Wheatley wrote that “the more seriously we acknowledge different perspectives, the more they will be magnetized to join us.” Consider that possibility.
Tom was the Founder and Managing Partner of VERTESS. He was a Certified Merger & Acquisition Advisor (CM&AA), consultant, and Licensed Psychologist with over 35 years of very successful national experience in the healthcare marketplace, including co-founding and building a $25 million behavioral health/disabilities services company. Tom represented sellers and investors across the healthcare spectrum and was recognized for his executive leadership in the 2005 Entrepreneur of the Year issue of Inc. Tom passed away in December 2018.