Battlefield to Homefront HARVARD MBA MAPS HIMSELF BACK TO NEBRASKA PG. 8
Collaborating a Software Evolution STAVNEAK & SMITH KEEP SUCCESS LOCAL PG. 5
Strategic Ownership OWNING MULTIPLE COMPLEMENTARY BUSINESSES PG. 14 A Publication of The Firm Business Brokerage
Winter 2016
AMERICAN DREAM EDITION
Volume 1 Issue 6 Published by The Firm Business Brokerage
President/Editor • Cortney Sells Director/Assistant Editor • Cassandra Powers In-House Legal Counsel • Susanne Miller Accounting & Finance • Cassandra Waltrip Brokerage Principal • Rene Rademacher Market Development • Rachael Rand Paralegal • Julie O’Brien Mail Marketer • Adam Jaime Outreach Coordinator • Nycole Wandvik-Tolle Strategic Development Officer • Brittnie True Research Analyst • Daniel Hayes Community Relations • Mike Sells Intern • Jessica Thiem
Design • OBI Creative
Contributing Writers • Angeal Boone, Dave Paladino, Kathy Rygg, Maureen Tierney
Show us some
To Subscribe: The Firm Business Brokerage info@TheFirmB2B.com 210 N. 78 St. Omaha, NE 68114 402.998.5288
@OmahaMagazine
Advertising Inquiries: 402.884.2000 todd@omahamagazine.com
2
The Firm Deal Review
Winter 2016
A Publication of The Firm Business Brokerage
The Bottom Line
Harvard Graduate Heieck’s life plan maps him to GIS Workshop.
pg.8
Special Section
7 Fresh Off The Firm
The Firm Business Brokerage has over $80 million dollars in Assets Under Management of current cash flowing businesses for sale—from medical practices to commercial services to large manufacturing companies.
Features
5 Software Evolution
Built by Developers
Columns
4 Net Worth
for Developers
8 Battlefield to Homefront 12 Pouring Profits
Mapping Out a Growth Plan
Amanda Ransom profits from her passion.
Angeal Boone
CPA of Boone & Assoc. Cash vs. Accrual Accounting
Complementary 14 Owning Businesses
Dave Paladino discusses seasonality of businesses.
15 Executive Impact Ensuring Confidentiality
Sells Insights
In Pursuit of the American Dream
M
by Cortney Sells president/editor
aking the American Dream come true by owning one’s own business is something that people strive for daily. One of the biggest draws in purchasing or starting a business in the Midwest is a strong sense of community. Not only are owners invested in their employees, but also in all those around themselves, ensuring that relationships inside and outside the workplace are developed and maintained for the years to come. Real leaders are compelled to give back and create a cohesive loop of economic stability.
The mindset continually makes the Midwest an economic workhorse, encouraging growth through innovation and support. Countless small businesses are shining examples of Midwestern know-how by hiring local and keeping true to regional ethics. Understanding that strong communities and strong businesses are linked has made a successful economic model. It’s innovative entrepreneurs that keep this ball rolling, and in this edition we hope to shed some light on these local stars. The FIRM
Winter 2016
The Firm Deal Review
3
A Publication of The Firm Business Brokerage
Net Worth
Cash vs. Accrual Basis Accounting written by Angeal Boone, CPA; Boone & Associates
E
very business must make a choice between accrual basis and cash basis accounting. This is an important decision and can be confusing for business owners. There are benefits and drawbacks to each.
Angeal Boone
With accrual basis accounting, you’ll recognize and pay tax on your income at the time you earn the income, even if you haven’t been paid yet. You’ll also deduct expenses at the time the expenses are incurred, regardless of whether you’ve paid them yet. With cash basis accounting, you won’t recognize or pay tax on your income until you
receive the money. You’ll deduct expenses when you actually pay them. Most small businesses and individuals use cash basis.
clearly show the cash flow of the business. This can make it hard to keep track of how much cash you have on hand.
In industries such as healthcare, where there can be a gap of two or three months between providing services and being paid, the accrual basis provides a clearer picture of your month-to-month operations.
The main benefit of using cash basis is that it is simple and easy to understand. The bookkeeping is very straightforward. However, the timing of cash receipts and disbursements can be somewhat random, so there may appear to be months with unusually high or low profits due to timing, when things are actually quite stable. Cash basis financial statements also give a clearer picture of the cash flow of the business.
This is because your financial statements will reflect what you actually earned, rather than what you collected. Using accrual basis may be required by the IRS if your business maintains inventory, or if your sales are over $5 million per year. In addition, if you need audited financial statements, you will be required to use accrual basis accounting. Accrual basis accounting generally provides a more accurate picture of your operations, but does not
We
When purchasing or starting up a new business, it’s always a good idea to consult your tax advisor for specific advice on your particular needs. THE FIRM
Fas t- Paced Publ ic Rel ations
you too
For the Connected World Every story. Every tweet. Every interaction. PR is vital to your bottom line now more than ever. Join the world of innovative PR – partner with experts. Customer-Based Planning and Communications
4
The Firm Deal Review
Winter 2016
zaissco.com
ess-to-Busines sin sM Bu OMA H a
B2
B
A’ S
2015 Winner
ine
@OmahaMagazine
’s
z ga
Om ah a
402-964-9293 11626 Nicholas Street
Best PR Agency 7 Years Running!
A Publication of The Firm Business Brokerage
Developing A Success
Making Their Clients More Efficient written by Maureen Tierney
Rod Smith & Don Stavneak
The Firm Deal Review VOLANO SOLUTIONS Years in Business: 8 Employees: 21 Annual Client Base: 40 Industry: Software & Programming Owners: Don Stavneak & Rod Smith
T
he Mastercraft is one of the city’s most vibrant hubs for creative types, so it’s no surprise that the space is also the home to some of Omaha’s most innovative software solutions.
Volano Solutions was founded in 2007 in a 220-square-foot cubbyhole of an office. Flash forward to today and owners Don Stavneak and Rod Smith now direct a team of 21 knowledge professionals who create and implement custom-tailored workflow software for local businesses.
VOLANO STRIVES TO NOT JUST MERELY “BUILD SOFTWARE.” THEIR AIM IS TO ESTABLISH DEEP AND BROAD RELATIONSHIPS TO ENSURE THAT THEIR SOLUTIONS WILL POSITION CLIENTS FOR SUSTAINED GROWTH AND SUCCESS. As co-founders with strong backgrounds in coding and software development, Stavneak and Smith have created a company “built by developers for developers.” Both have a keen understanding of what it takes to find bugs or create software solutions, but the business feels its strongest point may be in being able to understand and implement a client vision. The software evolution that has become Volano started when Smith and Stavneak began working together at different com-
panies 15 years ago. Smith’s experience in software sales during the early days of the PC showed him “the power of software” and compelled him to begin building it in his free time. And when most kids were being read The Cat in the Hat, Stavneak began tinkering with code as a 4-year-old. Together they offer a model for success that begins with building momentum in the very first encounter with a potential client. Indeed, the company name itself is from the Italian for “flywheel.” > Winter 2016
The Firm Deal Review
5
A Publication of The Firm Business Brokerage
< The owners believe it is vital to “see firsthand [client] business challenges and needs, to understand their vision, and then engage in a long-term relationship,” Stavneak says. The business now manages about 90 projects for 40 clients every year.
Om ah a
14335 Hillsdale Ave, Omaha, NE 68137 www.OmahaMercedes.com Contact John Williams anytime at 402.981.9262
2015 Winner
BEST FLORIST “Taylor Made” for ALL your floral needs since 1950”
Not only does this allow for diversification and growth, but it also promotes the kind of creativity that leads to continued customer satisfaction, proving that engaged employees make for an engaged clientele. THE FIRM
402.733.2322
12310 K Plaza, Ste. 108 Locally Owned Since 1950
Winter 2016
’S
THANK YOU OMAHA!
Both Smith and Stavneak agree that keeping success local benefits the business as much as does cash flow. Meeting with clients in person develops bonds and removes the pressure of “leading with a product.”
The Firm Deal Review
B2
Mercedes-Benz of Omaha
It’s a philosophy that relies on a commitment to continuous, lifelong learning and improvement. Employees are allotted four hours a week to focus on improving both themselves and Volano, whether that be keeping up with new technology or serving in the community. It’s this cornerstone of the right people working together that leads to the building of professional relationships “beyond sitting next to each other” at work, Smith says.
6
of Omaha ess-to-Busines sin sM Bu ’s B OMA H A a
ine
The driving force behind this model is differentiation, which Stavneak defines simply as “doing things a bit differently than the next guy.” Volano creates this backbone philosophy by focusing first on hiring for “attitude and aptitude [and] allowing the rest to fall naturally.”
of Omaha z ga
Smith adds that they seek “good, healthy businesses” that can “paint a virtual canvas and have Volano build it.” But Volano strives to not just merely “build software.” Their aim is to establish deep and broad relationships to ensure that their solutions will position clients for sustained growth and success.
A Publication of The Firm Business Brokerage
Fresh Off The Firm:
Featured Listings for Sale Cozy Rustic Midtown Bistro OWNER’S PROFIT $46,308 PRICE $136,000 Open kitchen concept, European-style bistro offering a fresh selection of lunch and dinner items using many locally sourced ingredients and handcrafted meats.
Sales, Install, and Service of Security Equipment OWNER’S PROFIT $107,224 PRICE $240,000 Banks, jeweler, hospitals, and several other business types utilize the services of this 15-year-old business! Focused on financial and security equipment sales and service, this business serves a client base throughout the Midwest.
Hauling & Brokerage Services for Livestock & Agriculture OWNER’S PROFIT $746,236 PRICE $5,250,000 Livestock and grain hauling is the main focus of this business. Experienced employed and subcontracted drivers offer the company the ability to haul to all 48 contiguous states. Business has over $5MM in assets included in price.
**Remotely Operated Supplement & Nutrition Stores OWNER’S PROFIT $996,214 PRICE $5,100,000 This business and brand is a leading provider of nutrition and supplements with units in Wisconsin, North Dakota, and Minnesota. The current owner operates the units remotely from Nebraska.
Dog Daycare & Boarding with 3,200 Clients OWNER’S PROFIT $118,306 PRICE $390,000 Owner oversees 10 hours per week of this upscale pet boarding and spa with more than 3,200 clients and a reliable, full operational staff. The passionate and well-trained staff offer personalized care and exceptional service in high-end dog daycare, boarding, and grooming.
Rentable Inflatable Business OWNER’S PROFIT $24,362 PRICE $62,000 Working only two days a week currently, this inflatables-renting business owner is producing a 91% profit margin while being one of the best full-service bounce house rental companies in town. This company is one of the few bounce rental businesses in Omaha, Nebraska, that is certified by SIOTO.
High-End Gutters Distribution; Owner Only Responsible for Sales & Scheduling
Franchised Restoration With Carpet Cleaning
OWNER’S PROFIT $145,200 PRICE $315,000
OWNER’S PROFIT $150,351 PRICE $430,000
This business is a dealer for high-end rain gutter covers. These products are constructed of high-quality aluminum and surgical-grade stainless steel, and are strong enough to hold up to four feet of snow or 20 pounds of debris! Installations occur from March to October.
This successful franchise has been around for over 60 years! They offer a variety of cleaning services including carpet, air duct, wood floor, and drapery that appeals to the homeowners seeking top-notch maintenance for fixtures and furnishings in their homes.
** Broker’s Choice | 90+ Available Business Opportunities For Sale please visit TheFirmBusinessBrokerage.com for Details Winter 2016
The Firm Deal Review
7
Joe Heieck
A Publication of The Firm Business Brokerage
Using GIS Mapping: Battlefield to Homefront Mapping Out A Growth Plan
written by Maureen Tierney | photography by Bill Sitzmann
GIS ALLOWS PEOPLE TO USE MAPS TO GET SOMEPLACE BETTER, WHATEVER THAT PLACE MAY BE. THE SOFTWARE INVOLVED ROLLS CARTOGRAPHY AND TECHNOLOGY TOGETHER AND TAKES THEM TO A WHOLE NEW LEVEL. HEIECK REFERS TO THIS AS A “DIGITAL ENVIRONMENT.” The Firm Deal Review GIS WORKSHOP Industry: Geographic Information System (GIS) Established: 1999 Reason for Sale: Retirement Servicing States: Six and expanding Employees: 20 Year Purchased: 2015
O
n a day that changed so many lives, Joe Heieck made a decision that would forever change his. As a college student on 9/11, Heieck was compelled by that day’s events to answer a grieving nation’s need by joining the United States Armed Forces.
After careful consideration, Heieck settled on the Navy, not realizing that this move would shape not only his life but his career as well. He was taking his first steps into the world of geographic information systems (or GIS) and laying down the path to the future acquisition of Lincoln’s GIS Workshop. A graduate of Notre Dame and Harvard Business School, Heieck was drawn to the power of GIS as it allowed for “good thinking skills [and] to connect with people and gather information through intelligence” with the system that is a foundation of the Navy’s analytical platform. As a lieutenant
in the Office of Naval Intelligence, Heieck worked closely with the Navy SEALs. But when he left after eight years of active duty and embarked on his Harvard MBA, he was not yet thinking of transferring his knowledge of GIS into the civilian arena. Rather, he was learning leadership skills and the perspective of an entrepreneurial CEO. Heieck didn’t consider himself “a start-up guy.” Upon graduation he would look instead to “take an existing business and improve it over time.” It would take a year of looking at 200 businesses in every industry across the Midwest and Rockies before “the stars aligned with the right fit and characteristics” to suit his abilities. It just happened to be that the right fit was up the native Nebraskan’s alley and called for his Naval training in GIS. So in January 2015, Heieck settled on GIS Workshop, a company started in 1999 that became available when the owner decided to retire. “Everyone’s seeking information and to get to a better place,” Heieck says. “The heart of information is maps, whether it’s to map a career or New Year’s Resolutions.” GIS seeks to streamline technology to place information and data on a map so that patterns and solutions can be determined. GIS allows people to “use maps to get someplace better, whatever that place may be.” The software involved rolls cartography > Winter 2016
The Firm Deal Review
9
’s
ess-to-Busines sin sM Bu OMA H a
B
A’ S
2015 Winner
THE OMAHA DIFFERENCE
We believe that positive business ethics is the foundation to a great city. See you at our complimentary community programs.
BUSINESSETHICSALLIANCE.ORG 10
The Firm Deal Review
Winter 2016
< and technology together and takes them to a whole new level. Heieck refers to this as a “digital environment.”
ine
B2
z ga
Om ah a
A Publication of The Firm Business Brokerage
GIS systems require highly intelligent software that integrates, among other things, GPS, aerial and multispectral imaging (a technique that captures data at specific frequencies across the electromagnetic spectrum) to best capture and utilize information, whether it be locating every light pole in an area or doing groundwater studies. GIS Workshop’s biggest client base is local government or, as Heieck puts it, “the bread and butter throughout the Midwest.” He highlights the challenge of gathering information in rural environments by stating that “small counties and towns face the challenge of finding talented people to gather needed data and end up outsourcing” this task. GIS Workshop fills this need with “cost-effective software and all the GIS support” possible. Heieck and his team “offer 100% support and the technicians to perform all edits.” Distance is not a major factor in doing business. The strength of the software and the talent of GIS Workshop’s developers leave clients feeling as if they are in the next room from the help they need. In fact, Heieck has clients in six surrounding states and looks to expand further across the Midwest and Rockies. He plans to utilize both organic and inorganic growth, stating that a good business model doesn’t “push into a territory with its own sales force” but looks into an established arena and takes advantage of the relationships in place. This also applies to GIS Workshop’s development and implementation of software. Those working directly with the software on a local level are highly involved in the construction of databases. Now almost a year into his tenure as CEO of a small GIS company, Heieck makes a point to use the software every day. While he leaves coding and development to his experienced team, he strives to continue to learn the business inside and out. He has a natural ability for communicating and works to “get to know customers and understand
their needs and how to fit [GIS Workshop] into their success.” Beyond helping his team of 20 to do their best work, Heieck continually works to reach out and talk to clients. It is because of this that GIS Workshop can mainly rely on word of mouth to gain new clients and reach into new areas. The added personal touch of open communication with customers certainly appeals to the demeanor of GIS Workshop’s rural base. For Heieck, the act of gathering information isn’t enough to answer the need for data. “People sit on a lot of information and that information is telling a story,” he says. While the data might not produce a story visible to the eye, it can be “manipulated to show the story and let you know where to go.” Heieck also applies this philosophy to the running of GIS Workshop. His immediate focus after the purchase was to professionalize the existing business. While he is present for his team on a daily basis as a leader, he enjoys the challenge of the balancing act of working on the business and working in the business. Like any good CEO, Heieck makes sure to surround himself with the right talent to make this a possibility. What is perhaps unique about GIS Workshop is not just the scale of technology and software used, but the enthusiasm that Heieck has for his company and the industry it serves. “I believe wholeheartedly that [GIS Workshop] is the best in the Midwest,” he says. Not only is he continually impressed by the power of information, but also by the technology that brings it to focus is also a source of excitement. The continued improvement and use of software ensures that “the power of maps is the sky’s the limit.” It seems the same is true for Heieck and GIS Workshop. THE FIRM The Firm Business Brokerage successfully sold this business in 85 days.
Winter 2016
The Firm Deal Review
11
A Publication of The Firm Business Brokerage
Bartender to Business Owner Amanda Ransom profits from her passion.
written by Kathy Rygg
Amanda Ransom of Stoli’s Lounge
The Firm Deal Review STOLI’S LOUNGE Reason for Sale: Moved to Colorado Days on Market: Under 120 Days Business Established: 2005 Location: 120th and Dodge Street
A
manda Ransom loves being behind a bar. She started bartending at age 19, and even after exploring different fields in college, she found herself returning to bartending. Over the years she realized she finally wanted to go into the business for herself. Ransom spent several months looking for the right opportunity, and when it finally presented itself, she set things in motion.
12
The Firm Deal Review
Winter 2016
Ransom approached two colleagues who had invested in other businesses within the industry, and the three agreed to form a partnership. In February 2015, they completed the purchase of Stoli’s Lounge off 120th & Dodge Street. “The location was perfect,” Ransom says. “It’s right in the middle of the city with a good mix of business and residential, and it’s easy access off of the interstate and off of Dodge. When you market right, you can pull in all that clientele.” The bar quickly underwent a renovation. Ransom says she liked the bones of the space, but it needed to be cleaned up. “The color scheme is much better now, it’s clean, classy, has better drinks, and is a place where women can feel comfortable, which is what I wanted,” she explains. “It’s a good melting pot for people, and even
if you come in by yourself, it’s hard not to have a conversation within five minutes of sitting down.” The process of purchasing the business went smoothly, which Ransom attributes to having a business brokerage like The Firm serve as the mediator between parties. She also says knowing what you want and having a business plan is key to buying any business. “You’re going to succeed if you’re passionate about it, but you also need to know the business,” she says. “Do your research ahead of time.” The partnership turned out to be the right move. The experience of Ransom’s partners is valuable when she needs to make big decisions, but she is in charge of daily operations. “They didn’t just invest in a business, they invested in me, and they trust me,” she
B2
B
A’ S
ine
Om ah a
ess-to-Busines sin sM Bu OMA H a z ga
“YOU’RE GOING TO SUCCEED IF YOU’RE PASSIONATE ABOUT IT, BUT YOU ALSO NEED TO KNOW THE BUSINESS. DO YOUR RESEARCH AHEAD OF TIME.”
’s
2015 Winner
Contractor since 2000
-Amanda Ransom
Available 24/7
Affordable • Knowledgeable Professional or call 402.293.8707 for a FREE estimate!
says. “It’s a great working relationship, and I think we have a good thing going.” Because she’s been in the business so long, Ransom knows what works and what doesn’t. She likes the fact there isn’t a kitchen, which adds a lot of costs to any bar, but food trucks often park right outside. Stoli’s has a heavy emphasis on NFL Sundays and also has theme parties every few months. Next year they plan to put in an outdoor patio as well. “Once we get people in the door,” she says, “they love it, they stay, and come back again.” Even though the first year is going well and Ransom is pleased with the result, she recognizes the need to keep improving and the importance of working hard. “Owning a bar is a lot of fun, but it’s still a business,” she says. “This is where I belong and what I’m good at. I’m on cloud nine and look forward to doing this for the next 30 years.” THE FIRM The Firm Business Brokerage completed this successful deal in 29 days, offer to close.
Your People. Our Priority.® Our goal is to enhance our clients’ success by providing fast, accurate and affordable results. We do this by utilizing real-time sources and databases, comprehensive training and compliance with EEOC & FCRA standards to compile our background checks.
Need More Information? Contact One Source Today. follow us:
tel 800.608.3645 onesourcebackground.com
Winter 2016
The Firm Deal Review
13
A Publication of The Firm Business Brokerage
Strategic Ownership
Owning Multiple Complimentary Businesses written by Dave Paladino
The Firm Deal Review DAVE PALADINO Number of Employees: 41 Current Businesses Owned: Three— Dino’s Storage, Landmark Group, and Paladino Development Group Best Advice: Diversify, diversify, diversify!
of construction equipment find December to be a busy month because they sell big-ticket items that may have tax implications. • Do your products have anything to do with kids being in school? Partially to protect the tourism industry, the state of Iowa recently made it illegal for schools to start before a certain date. • Is your product a luxury? Owners of affordable housing will see lower amounts of seasonality than sellers of wakeboard boats. • What does the weather itself have to do with your business? Lawn irrigation companies basically shut down from December to March.
Dave Paladino
I
have evaluated hundreds of opportunities and have owned dozens of businesses. One rule that I have found is that nearly all businesses are seasonal to some degree. Some obvious examples are lawn-mowing firms and companies that sell team gear to high schools and colleges. The first is seasonal due to weather, and the latter is due to the ebb and flow of a different type of season—sports. Especially with summer vacation and other breaks, the window of opportunity for making it in the school market is abbreviated. Whether you are a banker or a potential buyer of a business, it is critical to understand the relative seasonality of any company.
14
The Firm Deal Review
Winter 2016
The primary question to ask is “Who is the customer?” Many business owners that are deep in the weeds—or are trying to sell—can be tempted to say that there is little seasonality to their success. I advocate a deeper analysis, and here are some questions that I have found to be invaluable: • Is your customer a business or a consumer? • What is the sales cycle? A software package that runs a real estate company that has a long sales cycle will be less seasonal. • What are the tax ramifications of purchasing your product? Sellers
What can you do to combat seasonality? Many owners actually enjoy that aspect of their business. I know several that simply do not work during non-peak months. They cherish time with family. They hunt or fish. They travel. It’s all part of their plan and what works for them. Others like to diversify in a way that counterbalances seasonality. That’s why a lot of lawn and landscaping businesses also do snow removal. Whenever you are evaluating a business, it’s important to understand that most of them are seasonal in some way. And it’s imperative for you to understand the reasons for that seasonality and plan accordingly. THE FIRM
A Publication of The Firm Business Brokerage
Executive Impact
Confidentiality is at the core of business. written by Kathy Rygg
The Firm Deal Review • • •
•
Cash Flowing Businesses For Sale: 105 Current Assets Under Management: Over $80MM Professionals: In-House Counsel, Internal Accountant, Paralegal, Research Analyst, along with nine other full-time Industry Experts Competitive Advantage: Our People—we boast the largest full-time staff of deal specialists and Our Proprietary Process— confidentially pairing Buyers & Sellers
Susanne Miller, In-House Legal Counsel for The Firm Business Brokerage
B
uying or selling a business is all about relationships, and at the heart of every good relationship is trust. It starts with establishing trust between the business brokerage and the client. That trust comes through both parties agreeing to protect sensitive information about the business and its inner workings. A legal agreement in the form of a Mutual Confidential Disclosure is necessary to help ensure those expectations are clearly outlined and understood by both parties. Business owners have often spent years working hard to build their company, so it’s only natural they are hesitant to share information. They don’t want their intellectual property to get in the hands of competitors, other clients, or even friends. It’s no different than not wanting to share personal or financial information with your neighbor down the street. “Once the client understands that we are providing a service to
them and trying to learn more information so we understand the business, then they feel more comfortable,” says Susanne Miller, In-House Legal Counsel for The Firm Business Brokerage. But that trust and understanding must extend both ways. Not only does the client need to feel comfortable that the brokerage representing them will protect their information, the brokerage company needs to feel comfortable that the client won’t share information about their process as well. “The Mutual Disclosure Agreement puts legal obligations upon both parties when dealing with confidential information,” Miller says. “Just like a client doesn’t want us to share their information, we ask that they do not share our process.” Just what type of information does the Mutual Disclosure Agreement cover? It applies to all business and technical infor-
mation, including specifications, drawings, software, current and future business plans, product samples, and written, electronic, and verbal descriptions of products. However, it does not apply to information that is generally available to the public. And any information shared is specifically for the purpose of evaluating a possible business relationship. Having a formal agreement in place gives both parties one less thing to worry about. “Clients feel more secure when there is a contract that obligates us to do what we say we are going to do,” Miller adds. “We sign this document with every seller and with every buyer to set the relationship expectations right away.” And having that trust from the beginning is what helps set the tone for a successful working relationship for everyone involved. THE FIRM Winter 2016
The Firm Deal Review
15