Do Buyers really know what Sellers want when being acquired?

March 4th, 2013

Reasons to Sell

There are many good reasons for selling a staffing firm. Some sellers are thinking about retirement or at least liquefying what is often their largest asset so they can take some chips off the table. Others may feel they have grown the business as much as they can on their own and to reach the next level for their business they will need a well-suited, deep-pocketed partner.

 Some owners as they age become more risk averse and are reluctant to continue to invest their retirement funds to grow their business. Additionally, there are some owners that would prefer to tap into an acquirers’ existing infrastructure and distribution network then try to create their own.

 Other drivers are the lack of available, reasonably priced growth capital, the lack of reasonably priced insurance protection, access to certain volume purchasers of staffing services through VMS or other purchasing methods that can dictate lower margins and less direct customer contact on a staffing supplier.

 These are the general reasons that motivate Sellers. What are the specific reasons that may encourage a Seller to choose your firm?

 Why sell to you?

Certainly a high purchase price, with 50%-70% cash on closing and a good upside potential for growth will be huge plus factors for a seller to consider. 

Sellers prefer notes for the balance especially if they are not active or not remaining with the business. Buyers generally prefer earn outs if the owners are staying on, to share the risk going forward. Since many current transactions contain earn outs, why would a buyer want to create an environment that impairs the seller’s ability to improve profits?

 A wise Seller will look most seriously at the Buyer who offers their business the best opportunity to continue to succeed as they have thus far.

It may be surprising that a wise Seller will often choose his acquirer by his/her determination of which acquirer will create the least amount of internal and external changes. Changes mean uncertainty and sometimes disruption that can add to the risk of success for both buyer and seller. Change also increases the need for communication so staff members can be sold on the benefits of the change.

In fact, an acquirer would do well to avoid any change that is not absolutely necessarily by law and slowly introduce other “branding” type changes on a scale that the acquired staff can handle without a loss of staff or business.

It is always interesting to see Buyers rave about the staff and culture of an acquisition target firm only to destroy its very value and essence within a short time period post acquisition by introducing unnecessary changes so the acquired firm will look like all the other branches in the acquirer’s system. This is often precisely the fear the acquired staff had about being acquired in the first place.

When acquired staff is unhappy they tend to polish up their resumes and dig out the card of their favorite industry recruiter and see what is available. Of course, the most talented are often the most mobile. Consequently, the acquirer may lose some key performers through their actions and then blame the process or the acquired, often anyone but themselves.

For a complimentary discussion on any M & A Topic, contact us.

Bob Cohen and Sam Sacco run R.A.Cohen Consulting, a trusted industry M&A advisory service.  The partners have advised on over 140 successful industry transactions. 

 They can be reached at (416) 229-6462, (910) 509-0691, respectively, or bob@racohenconsulting.com and sam@racohenconsulting.com.

 For more information: www.racohenconsulting.com

 

Do Buyers really know what Sellers want when being acquired?

March 3rd, 2013

Reasons to Sell

There are many good reasons for selling a staffing firm. Some sellers are thinking about retirement or at least liquefying what is often their largest asset so they can take some chips off the table. Others may feel they have grown the business as much as they can on their own and to reach the next level for their business they will need a well-suited, deep-pocketed partner.

 Some owners as they age become more risk averse and are reluctant to continue to invest their retirement funds to grow their business. Additionally, there are some owners that would prefer to tap into an acquirers’ existing infrastructure and distribution network then try to create their own.

 Other drivers are the lack of available, reasonably priced growth capital, the lack of reasonably priced insurance protection, access to certain volume purchasers of staffing services through VMS or other purchasing methods that can dictate lower margins and less direct customer contact on a staffing supplier.

 These are the general reasons that motivate Sellers. What are the specific reasons that may encourage a Seller to choose your firm?

 Why sell to you?

Certainly a high purchase price, with 50%-70% cash on closing and a good upside potential for growth will be huge plus factors for a seller to consider. 

Sellers prefer notes for the balance especially if they are not active or not remaining with the business. Buyers generally prefer earn outs if the owners are staying on, to share the risk going forward. Since many current transactions contain earn outs, why would a buyer want to create an environment that impairs the seller’s ability to improve profits?

 A wise Seller will look most seriously at the Buyer who offers their business the best opportunity to continue to succeed as they have thus far.

It may be surprising that a wise Seller will often choose his acquirer by his/her determination of which acquirer will create the least amount of internal and external changes. Changes mean uncertainty and sometimes disruption that can add to the risk of success for both buyer and seller. Change also increases the need for communication so staff members can be sold on the benefits of the change.

In fact, an acquirer would do well to avoid any change that is not absolutely necessarily by law and slowly introduce other “branding” type changes on a scale that the acquired staff can handle without a loss of staff or business.

It is always interesting to see Buyers rave about the staff and culture of an acquisition target firm only to destroy its very value and essence within a short time period post acquisition by introducing unnecessary changes so the acquired firm will look like all the other branches in the acquirer’s system. This is often precisely the fear the acquired staff had about being acquired in the first place.

When acquired staff is unhappy they tend to polish up their resumes and dig out the card of their favorite industry recruiter and see what is available. Of course, the most talented are often the most mobile. Consequently, the acquirer may lose some key performers through their actions and then blame the process or the acquired, often anyone but themselves.

For a complimentary discussion on any M & A Topic, contact us.

Bob Cohen and Sam Sacco run R.A.Cohen Consulting, a trusted industry M&A advisory service.  The partners have advised on over 140 successful industry transactions. 

 They can be reached at (416) 229-6462, (910) 509-0691, respectively, or bob@racohenconsulting.com and sam@racohenconsulting.com.

 For more information: www.racohenconsulting.com

 

Prospecting for new Clients!

February 25th, 2013

As you know, in Staffing and other industries, prospecting must come to occupy a primary place on your sales reps’ to-do lists if they’re to be successful. Here are nine techniques to pass along that’ll bring in a steady stream of qualified prospects.

  1. Make a commitment to being prospect-driven. Chances are some of your salespeople only take prospecting seriously during periods when sales are down. It’s then soon forgotten once the orders begin coming in. The goal must be to focus on uncovering prospective customers year round.
  2. Focus on finding the right prospects. Prospects must come before prospecting. It’s easy for salespeople to spend a lot of time chasing would-be prospects who have no interest in what they’re selling. The key is spending time determining exactly who fits the profile of your best customers and building a prospect list around that profile.
  3. Cultivate continuously. A major mistake is making prospecting an event, rather than a process. Prospecting is not an impulsive quick fix. It involves more than making a call and, if there’s a negative response, crossing the name off the list. The purpose of continuous cultivation is to build a relationship with a prospect, something some salespeople find difficult when the initial contact is negative.
  4. Look at former customers. Many former customers may be ready to buy again or try a new product or service. Try to mix in former customers when you’re planning your prospecting calls. Former customers may also be an invaluable source of new leads.
  5. Recognize resistance to change. Prospects have a natural resistance to change. They follow the “if it ain’t broke, don’t fix it philosophy,” which makes it difficult to open new accounts. When prospects raise objections, listen carefully. Ask for clarification. By asking the prospect to go into more detail about the objection, you’ll be in a better position to overcome it.
  6. Give prospecting the same priority as meetings with important customers. Salespeople who don’t call on qualified prospects in their territories are leaving the door open for competitors to do so. Once competitors get an opening with prospects in your territory and start making inroads, they may start converting your long-term customers, too.
  7. Take a close look at the competition. Are your competitors failing in areas that may be your strengths? Have there been any changes in your competitors’ staff or product line that may give you an opportunity? Companies in transition provide a great opportunity for salespeople who act quickly and creatively.
  8. Resist hitting a comfort level. Some salespeople become content with their lifestyle. They hit their own glass ceiling, calling on favorite customers and looking for an acceptable amount of new business — but not too hard. The entrepreneurial salesperson is never satisfied, always thinking and trying to grow and improve business.
  9. Try to learn what the prospect does and his or her objectives. Who are the customers and competitors? Get information with web searches, annual reports, people who work at the prospect’s company and press releases.

Source: John R. Graham, President, Graham & Associates, Quincy, MA.

 For more information or a complimentary confidential discussion on any Staffing M & A subject, contact: Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

 We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at:    www.racohenconsulting.com

Do you want to buy a Business? Part 2

February 18th, 2013

Part 2- Buying Considerations Continued

In Part 1- we began the discussion on Buying Considerations by asking you to consider:

1. What are your goals in acquiring?

2. What are your acquisition criteria?

3. How will your acquisitions be funded?

Are you looking for top-shelf well run companies or distressed properties? What resources are you better equipped to offer, financial, operational or human? This may influence the type of business you can integrate most successfully.

4. In choosing an acquisition target buyers often look to create value for themselves by:

  • Lowering unit costs through economies of scale and better cost management

If you would like to read Part 1 in its entirety please go to www.racohenconsulting.com go to Resources you will see a hyperlink to our current post (Blog) and the bottom right of that page has all our previous Blog posts.

Continuing on with our questions to help you determine which opportunities will best fit your growth needs.

5.  What do you need to see in a target opportunity?

All of these factors listed below would be nice to have, but it’s important to prioritize as companies like people are rarely perfect:

  • Strategic fit
  • Compatible culture
  • Talented management
  • Sustainable growth
  • High Gross and Operating Margins
  • Operating focus, single or blended 

6.  How will you identify target firms to acquire?

  • Use industry directories to develop a target list
  • Call or write to this target contact list
  • Ask your Staff to identify their best independent local competitors
  • Contact respected industry M & A Advisors & Intermediaries
  • Engage an intermediary to bring you suitable targets

7.  What will you buy:  assets, stock, either? What are the income / capital gains tax issues for you as they relate to each of these acquisition structures?

8.  What deal structure best suits your needs?

  • % of cash on closing?
  • Will you use notes? What interest rate will you offer?
  • Earn outs? If so, for how long? How will you structure upsides and downsides?
  • Will you use Stock?

9. Who will be on your acquisition assessment team?

  • Internal staff members
  • Outside experts /advisors

 10.  Who will negotiate your transactions? Are you aware of?

  • Current deal pricing?
  • Various deal structures?
  • Tax consequences for buyer and seller?
  • How best to negotiate with a future employee of your firm?
  • How to work with the seller’s professional advisors? 

For smooth sailing during the transaction these are areas that should be thought through in advance. Many deals are lost due to inflexibility on one or both sides of a transaction. You rarely will get a seller to agree to everything you want (if they did, you’d be suspicious). So decide what you really need and pick your fights around vital issues with high value for you.

11. What will you require for Due Diligence?

You’re Financial/Legal and if you choose a Business advisor should be able to assist you in developing an appropriate list of items to examine and review. Some items would include:

  • A complete set of financial statements for the last 3 years
  • Tax returns covering the same period
  • Most recent month’s Balance Sheet
  • Property Leases
  • Equipment Leases
  • Staff personnel records-Organization chart
  • Description of all Employee Benefit plans
  • Detailed Accounts Receivables Listing-Bad Debt History
  • Schedules of furniture, office equipment, computer hardware/software, telephones
  • Budgets for current and future years
  • A variety of schedules detailing assignments/projects with clients
  • Reports from outside Accountants/Auditors

12. What is your timetable?

How will you integrate the acquired businesses?

  • Fully with your brand name
  • Partially as a (your brand) company, i.e. ABC a Mega firm Company
  • Autonomously as an entity appearing to be independent

Integration is usually the most critical area for a successful acquisition.  Blending cultures is often the key to a successful transition. It will be addressed in a future post.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at:  www.racohenconsulting.com

 

Strong Growth Forecast for 2013

January 28th, 2013

Long-time Staffing Industry Observer and respected Commentator Jeffrey Silber of BMO Capital Markets – US Equity Research News tells us that his group is projecting a 6%-8% increase in temp usage for 2013 and 2014. While this is slower than the (9%) growth the industry experienced in 2012, it still represents solid growth.

The staffing market and economy both face uncertainty, whenever business people perceive uncertainty they tend to be reticent to make significant expense commitments (like hiring more direct staff, more contractors/temps will be used) until the dust clears and there is more clarity. The uncertainty is caused by several factors including the political/economic landscape in the US and Europe, the costs of the Patient Protection and Affordable Care Act; (PPACA) and the growth of real GDP and the general direction of the economy.

New Unemployment claims are down well below the cautionary 400,000 mark according to Staffing Industry Analysts (SIA) Reports. Employment in most States is growing and contractor/temp wages have softened a bit which is a two-edged sword; while, it is easier to find needed workers it is harder to maintain higher margins as the supply strengthens.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

4 Lessons from a Time Square Street Peddler

November 26th, 2012

A street hawker may seem like an unlikely teacher, but you can use their simple techniques to increase the power of your sales efforts. They follow the basic rules of selling.

With a few small editorial changes, the credit for this post belongs to the author Matthew Swyers*, who shares in his own words.

 I was recently in New York City for business and stayed in Times Square. If you spend any amount of time there, in addition to other landmarks such as the famous ball that descends on New Year’s Eve and, of course, the Broadway marquees, you will also notice aggressive salesmen roaming the streets selling their goods and services.

They go after almost everyone, especially tourists who easily identify themselves by constantly starring skyward at the tall buildings in the city.

Some may dismiss these modern-day barkers as annoying parasites, but I always stop, from a safe distance, and marvel at the skills these street salesmen have perfected.  Although often crude and in your face you can learn a lot from these salesmen who hock everything from umbrellas to theater tickets. So what can you take away from an afternoon watching these guys?  Here’s what:

1. Engage

The No. 1 rule of thumb is to engage your prospective customer. In Times Square these street merchants will approach anyone, anytime, on any corner. That is how they engage their potential customers. For you it may be picking up your phone to speak with an inbound lead or perhaps it is methodically going through a cold-calling list. Whatever the case you cannot sell if you do not first engage. You must be unashamed and outright about it. That is what you are there to do. Do it.

2. Get Them Talking

Perhaps the most underrated skill among salespersons is the ability to get your prospective customer talking. In Times Square, for instance, if you happen to be wearing a Chicago Cubs Jersey they’ll say stuff like “Go Chicago” or “How them Cubs doing this year?” All they need is eye contact or any form of response and they have you. “Are you from Chicago?”  “Well, welcome to the Big Apple.”  “So what have you seen thus far?”

They’ve engaged you and they are getting you talking. In any sales position you must get your prospective customer talking so you can learn what they like, don’t like, and need so you can fashion your pitch and your products to fit what they need.

3. Listen and Use It

The guys in Times Square are fantastic at listening to what people have to say and using it to get to the next point and the next point until they can get to their pitch. Let’s say you offer that you’ve seen the Brooklyn Bridge and Times Square but that you just got into town. Bingo! You said the magic words.

 4. Pitch and Close

Once they identify the information that they need, those Times Square salesmen are masterful pitch men and closers. “You haven’t seen the Statue of Liberty?” “Wow, have I got a deal for you.” And here comes the pitch…all that from wearing a Chicago Cubs Jersey.

*Matthew Swyers is the founder of The Trademark Company, a Web-based law firm specializing in protecting the trademark rights of small to medium-size businesses. The company is ranked No. 138 on the 2011 Inc. 500. @TrademarkCo

Our goal is to help you become better informed; for more information on Staffing M & A or a complimentary confidential discussion, contact:

 Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at:   www.racohenconsulting.com

5 Terrific Things Your Business Should Be Blogging About

November 19th, 2012

I believe that we are all living out a story. You play the hero. You have villains, allies and mentors. You face and overcome tragedy. You triumph and sometimes fall short. The poets among us have called this the “human condition”

I feel that marketing is about connecting the vision of a business with each person’s story and businesses succeed when they have won a role in that story.

I love blogging because it is the purest way for a business to audition for a role in their customer’s story. Taking the metaphor a bit further I figure that the business blog needs to “nail” 5 lines to win the part of “friend.”

Here they are:

#1 Being Vulnerable: Vulnerable businesses are captivating. It’s nice to see Apple screw up every once in a while. It’s compelling when a consultant says “I was wrong. Let’s try another way.” Every once in a while, share your businesses bloopers reel.

#2 Being Sentimental: Every business has a sappy side that celebrates little things that mean a great deal. I once worked for an agency that burned to the ground. It’s employees watched it burn from the parking lot.

The next day, employees met in houses and coffee shops determined to not miss a single deadline. The day the newly rebuilt agency opened its doors, the employees received a sweatshirt with a match on the front. I still have that sweatshirt 14 years later.

Being sentimental isn’t weak. Its special and you should blog about it.

#3 Being Heroic: Sometimes it’s difficult to dream big. Our institutions have done a great job of training heroism out of us. Every once in a while a business does something heroic. Most likely someone in the business decides to dream big and pull the rest of their colleagues along. These times are special.

When was your businesses heroic moment? Tell your customers about it.

#4 Being Selfless: When was the last time your business did something truly selfless? Google pays the spouses of employees who’ve died up to half their salary for ten years and their children get $1,000 a month until they are 19. Amazing, now I want to hear more about Google.

Your small business or large business probably does amazing selfless acts like this too. Your readers should hear about them. It makes them proud to do business with you.

#5 Being Foolish: Some things don’t make any sense.

I’m not sure why Google wants to build driverless cars. I wish I understood why Jeff Bezoes is committed to mining asteroids. Why in the heck does Richard Branson own Virgin Galactic? None of these things make sense. They seem foolish. But they do remind me that real people with crazy dreams run these businesses and I want to hear more. How about you?

There isn’t a Formula for You to Copy-Sorry.

You know I’m incredibly practical about blogging. I’m sure you were looking for a nice template to follow.

The only nugget of wisdom I can give you is this…

Pay attention to the drama playing out in your readers’ lives. Look for the drama playing out in your own business. Find ways to connect the two.  This post was written by Stanford.

About Stanford: I’m Stanford and I want to help you stoke your passion, spread your message, and help your blog get noticed and promoted. Take a look in the archives.

Our goal is to help you become better informed; for more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com 

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at www.racohenconsulting.com

15 Barriers to Sales Success

October 22nd, 2012

Don’t let these barriers hinder your Growth!

Sales managers, consultants and trainers were asked to list the worst mistakes new salespeople make. Here are the top 15 responses:

  1. Talking too much and not listening enough.
  2. Failure to ask good questions or phrasing them improperly.
  3. Trying to sell products or services while customers look for solutions.
  4. Confusing prospects and customers with too much information.
  5. Poor after-sales service.
  6. Failure to try to regain lost business.
  7. Reluctance to sell against established relationships.
  8. Failure to respond properly to customer complaints.
  9. Failure to convert first-time buyers into long-term customers.
  10. Failure to get more business from existing customers.
  11. Setting goals too high or too low, or improperly trying to attain them.
  12. Selling features and price rather than value and benefits.
  13. Exhibiting a poor attitude when calling on prospects and customers.
  14. Failure to build trust in prospects and customers.
  15. Not taking full advantage of selling time.

Source: Ted Barrows, a sales consultant based in Bristol, RI.

For more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

5 Steps for Integrating Companies Successfully!

October 9th, 2012

Over the 18 month course of an average transition, there is extensive organizational “bruising” with unaddressed people, culture and process problems. Many companies drift toward improvised solutions and makeshift answers, relying on a crisis management style that keeps anxieties high and morale depressed, a recipe for sales collapse and executive flight.

It is possible to alleviate the stress of blending two distinct entities. One of the first steps is to anticipate likely scenarios instead of hoping that they don’t come up. Do not simply hope that there is a chance for success – instead, leave nothing to chance.

Establish Clear Direction

Usually a key executive receives the job of operationalizing the deal. He or she should focus on developing a 24-month strategy and vision for going forward. The first instinct is to cut away redundancy, deal with overlaps and release surplus employees. Instead, focus on engaging both organizations and evaluating core processes for synergies. You’ll have your chance to reduce one-time and recurring costs.

Make a Solid Plan & Process to Implement

Engineering the integration of core processes is the most important planning you’ll do. Often the buyer comes in and simply institutes their policies and procedures by fiat. This top-down model fails to unlock synergies from the ground up. It is counter intuitive to allow synergies to emerge rather than getting everyone on the same page, fast. But it is a critical phase that releases the true value of the deal. With new processes identified, link the new structure and budget to them, not the other way around.

Engage, Engage, Engage

People are not processes. It’s tempting to put them into a mass category and feed them platitudes, coffee mugs with slogans and t-shirts about teamwork, but your people are watching to see if your words match your actions. If you act incongruently, they will cease listening. They are the team that will carry out and implement the new vision. If they’re on board, you’ll see things move smoothly; if they’re not, resistance, balking and negative talk can torpedo your efforts. Engage them on every level.

Leverage Predictable Dynamics and Timing

Two IT departments or two marketing departments are not going to get along well, there is too much competition. Recognize the realities of the situation and develop strategies for leveraging heightened competition and an expanded knowledge base. Anticipate reactions at each stage of the merger and you’ll be way ahead. Shock gives way to uncertainty which gives way to acceptance and new development challenges.

 Lead with Courage & Persistence

Leading this initiative, you’re in the cross hairs. Supporting policies and procedures have to be developed to reinforce direction, structure and processes. Many voices, interest groups and individuals will attempt to influence your judgment. Managing an M&A transaction is the time when you tap into your leadership potential and rise to the challenge. Nothing less will do. Especially when it means the difference between success and failure. 

Our thanks to Merger Coach for many of the concepts expressed in this article.

For more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

 

 

 

7 Stages of Stagnation

September 24th, 2012

Businesses do not start to fail all of a sudden. Especially those firms that have found success over the years. Often, when a business starts to shrink or become less relevant it is more like a death of a thousand cuts.

Sometimes, this is only apparent in retrospect as often, while you are in the middle of all the activity, there is so much fire-fighting that one doesn’t always have the time to step back and analyse why business is declining.

When the ship starts talking on water, morale is generally lower, it’s hard to feel good and remain proud of a company on its way down. Typically, your best performers will pick up the signs earliest as they are more attuned to the success of the past. They may be more invested in the business being a great company and more sensitive to its current lack of growth. Part of who they are requires them to feel successful and to be associated with a successful business.

Should the declines continue, they may be among the first to brush up their resume and call their favorite recruiters.

What signs are there that the business may be starting to stagnate?

Look out and listen for these warning signs, when staff or management say things like:

  1. 1.   We’ve never done it that way.
  2. 2.   We’re not ready for that yet.
  3. 3.   We’re doing ok without it?
  4. 4.   We tried it once and it didn’t work out. I actually heard a Branch Manager telling Corporate that very statement when he was referring to sales, as if sales were an event, not a process.
  5. 5.   It costs too much, we can’t afford it.
  6. 6.   That’s really not our responsibility; and lastly
  7. 7.    It will never work.

If you hear words or thoughts such as these, it sounds to me, like you’ve got some co-workers, management or new hires that have excused themselves from all responsibility as if their actions couldn’t possibly have any impact or that there is no solution to the decline and they just have to stay afloat until general economic tides will raise all ships including their own.

These are serious warning signs and if these attitudes prevail what direction would you expect the business to take?

 At a certain point, you may have to take actions to preserve your job and your future if no one at your firm is prepared to take some bold steps toward improvement of the status quo.

 For more information on Staffing M & A or a complimentary confidential discussion, contact:

 Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

 Sam and Bob have successfully completed over 135 staffing industry transactions.

Visit our website for more articles and information a:  www.racohenconsulting.com