Field notes
from the deal table.

When it comes to increasing your company's value, most owners focus on growing revenue, improving margins, or expanding service offerings. But one often-overlooked factor can quietly destroy your business's marketability: key-person dependency.

Whether you're thinking about exiting in one year or ten, this single issue could derail your plans — and leave serious money on the table.

Buyers underwrite transferability first, growth second. If the business runs on you, they're not buying a business. They're buying a job. And they'll pay accordingly — 30 to 50% less than the same cash flow with documented systems, cross-trained managers, and repeatable processes.

Whether you're planning to sell, bring on investors, apply for financing, or simply understand your company's financial health — a valuation is a crucial step. It helps you determine the fair market value of your company and gives insight into strengths, weaknesses, and growth potential.

The number depends on why you're getting one. A valuation for a shareholder buyout is not the same as one for an SBA loan — even though both value the same business. Purpose determines standard of value, which determines methodology.

Having the right deal team can make all the difference. By surrounding yourself with experienced professionals who understand the nuances of business transactions, you'll be better positioned to navigate challenges, secure favorable terms, and achieve your financial goals.

The mistake most owners make: hiring people transactionally, one at a time, as issues come up. By the time you need an M&A attorney, you needed them six months ago. The best deals are teamed before LOI, not after.

Private equity firms have been around since the 1940s, but in recent years the PE landscape has exploded — with firms eager to acquire small businesses across every sector. This surge has led to what many call a private equity bubble.

As these investment groups seek growth opportunities, they're increasingly turning their attention to small companies, raising questions about the implications for entrepreneurs and the broader economy. For sellers, that's leverage. For individual buyers, it's competition. Both need to price the environment in.