By Tom Schramski, PhD
Volume 1 Issue 15, August 19, 2014
In his 1969 classic, “The Seven Habits of Highly Effective People,” Stephen Covey referred to the importance of “beginning with the end in mind.” From his view, most successful people create a clear vision of their destination and then flex their operational muscles in the pursuit of their goals. While most owners of middle market healthcare companies keep this in mind part of the time, they also allow others to shape their fates and the value of their enterprise.
Professional and personal goals are not ultimately about EBITDA. Our goals are about what’s under the hood, and that’s where most successful entrepreneurs focus over time.
To build perceptible value and ultimately attract the largest audience of buyers, here are seven ways to behave:
There is a theme in this non-exhaustive list. Owner transitions, especially the sale of a healthcare business, are an “open your kimono” experience. Keeping this in mind as you build your company makes it easier for buyers to see your value beyond the initial EBITDA calculation.
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.