In more than 30 years of professional experience, I have encountered numerous healthcare and human service companies with outstanding reputations and brands.  There are six simple ways they successfully established a remarkable brand.

Additionally, we also encounter entrepreneurs who are trying to enhance their value through acquisition. Whether it is the purchase of a small therapy practice, a homecare/hospice company, or a large regional disabilities organization, they are looking to draw on this acquisition as a platform for future success.

In other words, strategy is the vision of what an organization should be and provides guidelines for the choices made at the outset and along the way.

With this in mind, here are five truths for the leaders of companies, healthcare and otherwise, who are looking to formulate a strategic view of their marketplace.

Based on over 30 years in the marketplace, it is clear to me that there are several critical factors in a successful transaction that sellers and buyers should consider early in the process.

For business people, healthcare and otherwise, knowing what things cost is essential. If you are accurate you can adjust other variables including cash flow. If not, you can lose your business.

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?”