Rob Parker

So they look for those sorts of adjustments to get the most accurate representation of the actual earnings that they're looking to buy.

Yeah. It's important to have audited financial statements when you have leveraging in the business. So a bank is going to want the statements to be audited for a couple of reasons. One, because it's an assessment or a judgment that the numbers have been accurately prepared and compiled and the CPA firm, the auditor, is rendering an opinion.

Yeah. It's important to have audited financial statements when you have leveraging in the business. So a bank is going to want the statements to be audited for a couple of reasons. One, because it's an assessment or a judgment that the numbers have been accurately prepared and compiled and the CPA firm, the auditor, is rendering an opinion.

So they're signing their own name that these numbers are represented accurately. So that's important for a bank and important in a leveraged environment, which is what you'll have most likely when when you sell your business. And, you know, one thing I just, a point I want to make about this, we're spending a lot of time talking about financial metrics and financial statements.

So they're signing their own name that these numbers are represented accurately. So that's important for a bank and important in a leveraged environment, which is what you'll have most likely when when you sell your business. And, you know, one thing I just, a point I want to make about this, we're spending a lot of time talking about financial metrics and financial statements.

And that's important because that is the output and it's the metric that a buyer needs

And that's important because that is the output and it's the metric that a buyer needs

it's like the scoreboard and it's what a buyer needs to look at to assess what they're willing to pay for a business but just a reminder to everybody all financials are is the output from everything else that goes into the business operating the company efficiently driving leads converting those leads what's your average ticket once you've made that conversion all those things that make a business great

it's like the scoreboard and it's what a buyer needs to look at to assess what they're willing to pay for a business but just a reminder to everybody all financials are is the output from everything else that goes into the business operating the company efficiently driving leads converting those leads what's your average ticket once you've made that conversion all those things that make a business great

That's the part that really matters. The numbers are just the output of all those things. So the numbers are important, and it is the metric that a buyer will use, but you have to tell the story behind the numbers. That's really what matters is the story behind the numbers, not just the numbers themselves.

That's the part that really matters. The numbers are just the output of all those things. So the numbers are important, and it is the metric that a buyer will use, but you have to tell the story behind the numbers. That's really what matters is the story behind the numbers, not just the numbers themselves.

Just different nomenclature. So the SIM is Confidential Information Memorandum. And there was a time in our world when those documents were driven out of Microsoft Word. And they were like books, literally like a book. Very wordy, very lengthy, a Word document. And we called them a memorandum. The industry made a conversion some years ago to PowerPoint. A picture is worth a thousand words.

Just different nomenclature. So the SIM is Confidential Information Memorandum. And there was a time in our world when those documents were driven out of Microsoft Word. And they were like books, literally like a book. Very wordy, very lengthy, a Word document. And we called them a memorandum. The industry made a conversion some years ago to PowerPoint. A picture is worth a thousand words.

So these presentations today are far more analytical, more graphs and charts and those kinds of things that, again, support a story, less wordy. And as it converted to PowerPoint and that kind of a style, It went from memorandum to presentation. So SIM to SIP. So Ken's not wrong. We sold Gettle for Ken, had the fortune to work with him and with Baum Capital.

So these presentations today are far more analytical, more graphs and charts and those kinds of things that, again, support a story, less wordy. And as it converted to PowerPoint and that kind of a style, It went from memorandum to presentation. So SIM to SIP. So Ken's not wrong. We sold Gettle for Ken, had the fortune to work with him and with Baum Capital.

When we sold Gettle, we may have called it a SIM back in those days, and it would be a SIP today.

When we sold Gettle, we may have called it a SIM back in those days, and it would be a SIP today.

Yeah, I mean, there are software applications out there that can help companies in very weather-dependent sectors like lawn care or roofing look at where the weather patterns are going to be and help you decide how you're going to sequence your jobs that day based on weather. So these tools are very sophisticated in terms of running the business.

Yeah, I mean, there are software applications out there that can help companies in very weather-dependent sectors like lawn care or roofing look at where the weather patterns are going to be and help you decide how you're going to sequence your jobs that day based on weather. So these tools are very sophisticated in terms of running the business.

The other thing they've done is these really great ERP systems that are dedicated to the home services industry allow companies that have traditionally been very localized, very local, advertised on the radio and in the yellow pages, support the local little league.