Last week the Enterprise Value Specialists at Ceibass made some insightful observations about what it takes (and what it does not take) for lawn & landscape business owners to realize their independence — specifically, their efforts to build enterprise value and achieve financial independence.
The response to those observations were so positive and the conversations surrounding the topics so robust, that we have included a few more insights:
“The most successful owners at producing independence are the ones that move first, move fast and are persistent. They seem to be the ones that adopt new technology faster. They are the first in their markets to take care of their customers in new and better ways. They make hire/fire decisions quicker. They have the latest, most effective equipment. They are persistent and consistent at producing high customer satisfaction. Their mood is one of constant evolution in their systems and processes. They measure things.”
“One of the things successful people do is they take time to think about the future. They can anticipate better, because they think about it, a lot. How much money do I need? How do I increase the value of my business/? What new threats are coming that I need to be worried about and cope with? What new obligations do I have – to my customers, for technology, equipment, and people? Do I have the right bank? Credit? Cash flow? Financial structure? And they get great help in coming up with the answers.”
“Another trait of the successful lawn & landscape owner in reaching their financial independence is that they don’t lose sight of it. It doesn’t mean that things do go well all the time or that they make all the right decisions. They keep moving and making changes, adjusting and trying new things.”
“They have a great sense of timing. To reach financial independence, competent owners know a thing or two about timing. For example, the cost of money is low, interest in commercial lawn & landscape is at an all time high, investors are seeking solid, repeatable income sources. Multiples are high. If you are going to sell, now is the time to look into it.”
“The next economic downturn is right in front of us. Interest rates are trending up. Take advantage of what is probably the best Seller’s market we have ever experienced.”
