The enterprise value specialists at Ceibass have noticed that some lawn and landscape business owners are feeling the pinch of the current economic climate. Higher interest rates, banking stress and increased uncertainty have cast a shadow for some over the prospects of selling their business.
“If you’ve caught yourself thinking, “I should have sold 14 months ago,” you’re not alone. It’s easy to feel disheartened and believe you’ve missed your chance,” said Tom Fochtman, Ceibass CEO. “But here’s the deal: it’s okay to feel down, to whine, and to wallow for a moment. Take 15 minutes, let it all out, and then it’s time to move forward. Dwelling on missed opportunities won’t change your present situation, but taking decisive action will. Get your mojo back. Keep buffing your company out. Keep working on best practices, throughout the organization. Make the key hires. Keep measuring everything and finding areas to be more efficient. For sure pedal down on revenue and new clients. And don’t be afraid to make the
The team at Ceibass then went on to provide more insights:
- Mood plays a significant role in how you approach your business. A positive attitude can fuel motivation and inspire innovation, while a negative mindset can stifle progress. As a true competitor, you have the power to change your mood and reignite the passion for your business. Don’t wait for conditions to change; create the change you want to see.
- Remember, Remember, you are a tough competitor, not a fair-weather player. It’s time to dust yourself off, get back in the saddle, and make your business stronger, more profitable, and more attractive to potential buyers.
- Revisit your business strategy and identify areas for improvement. Are there new services you could offer or existing services you could streamline? Can you optimize your marketing efforts or renegotiate contracts with suppliers? By tackling these challenges head-on, you demonstrate the resilience and adaptability that buyers find attractive in a business.
- Focus on building a strong team and fostering a positive company culture. Happy, engaged employees are more productive, and a well-functioning team can significantly boost your bottom line. Moreover, a thriving company culture will make your business stand out in the competitive landscape industry.
- Seek help from industry experts, peers, or mentors. They can provide valuable insights, advice, and connections to help you navigate the challenges of the current economic climate.
“Look it’s still a bit of a Seller’s market, maybe not as frothy as it was. Deals are taking a little longer and multiples are under some duress, but it is still good,” said Tom. “You have the power to turn the tide and make your commercial lawn and landscape business shine. Embrace your inner competitor, take control, and make things happen. The opportunity to sell your business isn’t gone; it’s waiting for you to seize it.”