
The Entrepreneur: Understanding Strengths and Weaknesses
Entrepreneurs are typically dynamic and driven individuals who play a critical role in driving innovation. However, to succeed, they must leverage their strengths while being mindful of their weaknesses. By understanding both, entrepreneurs can maximize their potential and build more sustainable businesses.
Strengths of Entrepreneurs
Flexibility and Positive Attitudes
Entrepreneurs are highly resilient and maintain a positive outlook, even in challenging situations. These traits help them navigate market shifts, customer needs, and unforeseen obstacles with confidence.
Creativity and Willingness to Take Risks
Creativity is a hallmark of entrepreneurship. Entrepreneurs excel at generating new ideas and solutions. At the same time, they are comfortable taking calculated risks that can disrupt industries.
Goal-Focused and Committed to Success
The most successful entrepreneurs are driven by clear goals. Their focus on success fuels both day-to-day operations and long-term strategies. Through this means, they stay on course even when faced with setbacks.
Strong Organizational Skills
Despite their busy schedules, many entrepreneurs possess excellent organizational abilities. They prioritize effectively and manage deadlines. All of this is necessary to ensure the business runs smoothly.
High Energy Levels
Entrepreneurs often demonstrate a great deal of energy. Their lifestyles often require long hours and maintaining enthusiasm. This level of energy not only drives their own work but can also inspire teams and stakeholders.
Weaknesses of Entrepreneurs
Impatience with Results
Entrepreneurs are ambitious about achieving their goals, but they often want quick results. This impatience can lead to frustration. Sometimes it can also lead to rash decisions that may undermine long-term success.
Distraction
Juggling multiple responsibilities can lead to distractions and a lack of focus. Entrepreneurs may struggle to prioritize effectively, which can cause delays and impact the quality of work.
Distrust of New Technology
While entrepreneurs are generally innovative, some can be hesitant to embrace new technologies. This reluctance can limit their ability to leverage advancements that could benefit them in the long-run, improving efficiency and competitiveness.
Tendency to Stray from Plans
Entrepreneurs’ passion and creativity sometimes lead them to drift from their original business plans. While flexibility is important, straying too far from the vision can waste resources and cause a degree of chaos.
Difficulty Delegating
Many entrepreneurs are reluctant to delegate tasks, especially in the early stages of their businesses. This can lead to burnout and limit the growth of the business. Learning to trust and empower others is key to scaling effectively.
By embracing their core abilities, which often include such traits as creativity, focus, and energy, while recognizing addressing areas that might need improvement like impatience, distraction, and reluctance to delegate, entrepreneurs can take the first step towards improving operations.
Copyright: Business Brokerage Press, Inc.
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Fourteen Business Brokers Achieve 2024 GABB Million Dollar Club
Fourteen members of the Georgia Association of Business Brokers (GABB) were awarded the 2024 Million Dollar Club designation for helping broker more than $85 million worth of small, medium, and large businesses.
The GABB Million Dollar Club recognizes excellence, honoring professional business brokers that successfully close business acquisition transactions totaling one million dollars or more. This designation is an extension of GABB’s overall mission to support success and professionalism in the business brokerage industry.
The top producer for 2024 is Rob Margeton, Co-Founder of Ryco Advisors, LLC, an Atlanta-based sell-side mergers and acquisitions firm focused primarily on the sale of founder and family-owned businesses with valuations ranging from $10 million to $100 million. Mr. Margeton is a Mergers & Acquisitions Master Intermediary (M&AMI) and a Certified M&A Professional (CMAP) as well as a board member of M&A Source and chair of the Deal Market where he networks with private equity and strategic buying groups. He has more than 20 years of experience in financial services and as a business owner. Prior to co-founding Ryco Advisors, Mr. Margeton was a Managing Director at a New York middle-market financial restructuring firm and has worked on more than fifty transactions across a diverse set of industries. He also has extensive experience running and managing his own B2B field service business which he acquired, grew and sold. He and his family reside in Peachtree City.
Business brokers among the top five brokers with multi-million dollars in business sales for the year are Jeffery Merry, owner and founder of THE BUSINESS HOUSE of Gainesville; Steven Josovitz, Vice-President and Associate Broker of The Shumacher Group; Brian Judson, Senior Business Broker with Best Business Brokers; and Lisa Young, a Senior Business Advisor at Transworld Business Advisors of Atlanta North.
Other multi-million-dollar business brokers were Jeff Heidt, a distinguished Certified Restaurant Broker® and Franchise Partner for We Sell Restaurants in the Metro Atlanta MSA; J Snypp, a Board Certified Business Broker and former GABB Board member; Matt Wochele, Founder of Preferred Business Brokers, Inc.; and Karl Barham, Co-Owner and President of Transworld Business Advisors of Atlanta Peachtree.
Million-dollar honorees were Pam Walker, a Senior Business Broker with OLD Inc. Business Brokers; Dominique Maddox, Founder and President of EATS Broker; David Greeley, a Transworld Business Advisors of Lake Lanier Co-Owner; Andrew Greeley, Business Broker with Transworld Business Advisors
of Lake Lanier; and Greg DeFoor, Founder of DeFoor Business Services, Inc.
Special recognition was given to Greg DeFoor for obtaining the Life Member designation for achieving more than a million dollars in sales for three consecutive years, or any five years. Mr. Margeton and Mr. Barham had received this designation previously.
Special recognition was previously given to several of the top producers. Mr. Wochele, Mr. Josovitz, and Mr. Merry were honored as Silver Phoenix Members of the Million Dollar Club for achieving more than a million dollars in sales for any twenty-five years.
As the state’s only professional organization dedicated to buying and selling businesses, GABB empowers its members through education, mentoring, and networking. GABB Broker Members also operate with integrity, adhering to a code of ethics that ensures the thousands of buyers and sellers represented receive superior service.
“As an association, we have a dedicated membership of lenders, attorneys, and other professionals to assist business buyers and sellers at every step of the process,” explains former GABB President Matt Wochele. “We strive to support each and every member to operate at the highest level of success and professionalism.”
The GABB’s website lists hundreds of businesses and franchises for sale throughout Georgia in a variety of fields, including automotive, business services, childcare, cleaning, construction, electronics equipment, fitness, flooring, floral, food, gas stations, landscaping, manufacturing, medical, shipping, restaurants, retail, security, signs, and e-commerce businesses.
Find a professional business broker today at https://gabb.org/gabb-business-brokers/.
THE AWARDEES:
ROB MARGETON is Co-Founder of Ryco Advisors, LLC, an Atlanta-based sell-side mergers and acquisitions firm focused primarily on the sale of founder and family-owned businesses with valuations ranging from $10 million to $100 million. Mr. Margeton is a Mergers & Acquisitions Master Intermediary (M&AMI) and a Certified M&A Professional (CMAP) as well as a board member of M&A Source and chair of the Deal Market where he networks with private equity and strategic buying groups. He has more than 20 years of experience in financial services and as a business owner. Prior to co-founding Ryco Advisors, Mr. Margeton was a Managing Director at a New York middle-market financial restructuring firm and has worked on more than fifty transactions across a diverse set of industries. He also has extensive experience running and managing his own B2B field service business which he acquired, grew and sold. He and his family reside in Peachtree City.
JEFFERY E. MERRY, SR., past president of the GABB, has been the GABB’s top producer numerous times, and has been a part of the Million Dollar Club since its inception in 1999. Mr. Merry, Owner and Founder of THE BUSINESS HOUSE of Gainesville, is also a member of the International Business Brokers Association and the Business Brokers of Florida Association. For more than three decades his firm has specialized in serving the Manufacturing, Distribution, Technology, Service, Veterinary and Medical industries. As a Business Intermediary, Certified Exit Planner, and Consultant, Mr. Merry has been involved in mergers and acquisitions that have ranged in acquisition price from $60,000 to more than $15 million. He is a member of the Advisory Board at the University of North Georgia and is a past adjunct instructor for their MBA program. Mr. Merry holds a bachelor’s degree from Mercer University in Macon, a Master of Business Administration from the University of Illinois Edwardsville, and a Juris Doctorate from Atlanta Law School. Mr. Merry is a licensed Real Estate Agent in several Southeastern states, a Senior Business Analyst, and a member of the Exit Planning Institute.
STEVEN JOSOVITZ is Vice-President and Associate Broker of The Shumacher Group, having joined the firm in 1992. As an Associate Real Estate Broker, he heads up the company’s restaurant business brokerage division in addition to providing commercial retail and restaurant real estate site selection, sales, and lease negotiation expertise. A former restaurant owner and trained professional chef, Steven has an extensive background in restaurant and hotel management. He also offers consulting, and appraisal services and has been retained by law firms for his expert opinion to help settle disputes. Mr. Josovitz earned a B.S. in Hotel/Restaurant Management from Florida International University in 1981 and has studied in Europe. Mr. Josovitz is a member of the Georgia Restaurant Association, Georgia Association of Business Brokers (GABB), the International Council of Shopping Centers, and the Retail Brokers Network. As a 32-year GABB member, Mr. Josovitz was awarded Life Member and The Phoenix Award and annually receives the Multi-Million Dollar Club Award and Top Five Award for business and restaurant brokerage sales in Georgia.
BRIAN JUDSON has been selling businesses in Savannah for more than fifteen years. In that role, he has consulted with hundreds of local business owners discussing the growth and value of their companies. He serves on the board of directors for the Georgia Association of Business Brokers where he was in the
inaugural class of Board Certified Business Brokers. He stays actively engaged with memberships in these Chambers of Commerce: Savannah Area Chamber, Pooler Chamber, Metro Savannah Hispanic Chamber, Greater Savannah Black Chamber. He is also a member of Savannah Traffic Club, CFO Council, Downtown Business Association, Savannah Estate Planning Council, Realtors Commercial Alliance and Buy Local Savannah where he won the 2021 Business Advocate of the Year. Brian was also nominated for the Savannah Chamber’s 2023 Small Business Advocate. Brian’s volunteer activities have included sitting on the Savannah Historic District Board of Review, United Way Community Investment Panel and becoming a Master Docent for the Telfair and Jepson Museums. Currently Brian mentors high school students in Gulfstream’s Student Leadership Program and serves on the City of Savannah’s Cultural Affair Commission.
LISA YOUNG is a Senior Business Advisor at Transworld Business Advisors of Atlanta North. Lisa is an alumna of Georgia College and State University in Milledgeville where she earned a BBA in Information Systems. In 2020, Lisa completed a certified M&A program from Kennesaw State University and earned her BCBB designation in 2023. Through her extensive background in real estate, entrepreneurship, and business consulting, Lisa brings a broad spectrum of knowledge and expertise to her clients and is passionate about helping them achieve their goals. She is a lifetime member of the GABB Multi-Million Dollar Club, and a Transworld Business Advisors President’s Club member for the last 7 years. In her spare time, she enjoys hiking, swimming, boating, golf and volunteer work with organizations such as Second Harvest Food Bank, Habitat for Humanity and her church and is the proud “Gigi” of four grandchildren.
JEFF HEIDT is a distinguished Certified Restaurant Broker® and Franchise Partner for We Sell Restaurants in the Metro Atlanta MSA. With a proven track record of success, Jeff is a proud member of the Georgia Association of Business Brokers (GABB), where he has been honored with the prestigious Multi-Million Dollar Club designation. Before embarking on his thriving real estate career, Jeff honed his expertise during a remarkable two-decade tenure with one of Mellow Mushroom’s largest franchisees, gaining invaluable experience in every facet of the industry. His deep understanding of the business was further enriched by 15 years in management at UPS. Passionate about fostering the success of restaurant owners, Jeff takes great pleasure in guiding them through strategic exits and ensuring a seamless transition into the next chapter of their lives. He is dedicated to empowering ambitious restaurateurs as they expand and elevate their brands, offering invaluable support and insight along the way.
J SNYPP, III is a Board Certified Business Broker, former Georgia Association of Business Brokers board member and recent continuing education class instructor. He lives in Dunwoody, grew up in Atlanta and graduated from Georgia Southern University with a degree in marketing. Snypp spent more than two decades in the office furniture business before becoming a Business Broker and has been with Preferred Business Brokers, Inc. for more than 15 years and serves as Vice President and Associate Broker. He has found success selling businesses in a variety of industries. He is past president of the Dunwoody North Driving Club, a board member of the Dunwoody High School Gridiron Club and chairman of the Wildcat Classic Golf Tournament which benefits the Dunwoody football team. He has also served on the board of the Dunwoody High School Tip Off Club and the diaconate of his church. He serves on the Renegades Forever board which raises money for Atlanta area rugby.
MATT WOCHELE is a certified Business Intermediary with the IIBBA and a Board Certified Business Broker with GABB, Matt founded Preferred Business Brokers, Inc., in 1996 after a successful 17-year career in the investment banking industry. He is a life member of the Georgia Association of Business Brokers Million Dollar Club, Past President of the GABB Board, a GABB Phoenix Award and Silver Phoenix Award recipient. As president and managing broker of Preferred he has had the opportunity to be personally involved in hundreds of private business sales. The combined personal experience in the public sector with the private business sales has positioned the company to handle both the smaller main street business deals and the larger middle market business acquisitions.
KARL BARHAM is a co-owner and President of Transworld Business Advisors of Atlanta Peachtree, a global leader in business brokerage and Mergers & Acquisitions. Karl’s career is marked by a profound understanding of the complexities involved in business transactions. He has been recognized by his peers as a multiple year member of the Georgia Association of Business Broker Million Dollar Club. In addition, TBA – Atlanta Peachtree has received the Transworld Business Advisor’s prestigious 2023 President Award for one of the top offices in the world. Karl’s ability to accurately assess business value and identify growth opportunities has made him a trusted advisor among his clients. When Karl is not helping clients he can be found volunteering and supporting a number of great organizations in the Metro Atlanta area including Atlanta Black Chambers of Commerce, StartMe:Atlanta, and Junior Achievement. He serves on several nonprofit boards including Southwest Gwinnett Chamber of Commerce and Cornerstone Christian Academy.
PAM WALKER is a Senior Business Broker with OLD Inc. Business Brokers. Pam started her career as a business broker in 2014, contributing to OLD Inc.’s 77+ years of combined business experience. OLD Inc. Business Brokers is dedicated to helping business owners SELL their ALABAMA, GEORGIA, or TEXAS business. Pam completed The Board Certified Business Broker (BCBB) designation from the Georgia Association of Business Brokers and is a past 3-year board member of the Georgia Association of Business Brokers.
DOMINIQUE MADDOX is the founder and President of EATS Broker. EATS Broker is a boutique restaurant brokerage located in Dallas, Texas. Dominique exclusively sells restaurants, bars, and nightclubs, focusing on restaurants for sale in the $100,000-$2,000,000 price range. After working with one of the nation’s largest restaurant brokerage firms for seven years, Dominique decided to bring a new flavor to the Restaurant Brokerage Industry and founded EATS Broker in November 2019. Dominique Maddox has been selling restaurants since 2010 and has undergone intensive training in the Restaurant Brokerage Industry. Dominique attended Morehouse College on a football scholarship; he brings that same competitive spirit and energy to the field of restaurant brokerage. He holds the Certified Franchise Executive (CFE) designation endorsed by the Institute of Certified Franchise Executives (ICFE). Dominique is one of the few Restaurant Brokers in the nation with the Certified Franchise Executive (CFE) designation. Dominique holds a Brokers Real Estate license in Texas and Georgia. He has worked with franchise resales on national brands like Papa John’s, Firehouse Subs, Schlotzsky’s, Jimmy John’s, Lenny’s Grill and Subs, Steak n Shake, Captain D’s, Dairy Queen, Teriyaki Madness and many more.
DAVID GREELEY is a decorated U.S. Navy veteran with 35 years of Construction related Business Sales and Executive Management who also holds a degree in Civil Engineering. David is a Board-Certified Business Broker, Certified M&A Professional and maintains a Georgia Real Estate license. As Transworld Business Advisors of Lake Lanier Co-owner, David has built a reputation that values the relationships made in our community and is dedicated to developing and advancing business transitions across the spectrum of Main Street and board rooms with Mergers and Acquisitions.
ANDREW GREELEY has accumulated a decade of experience serving his Georgia community. As a business advisor, he develops meaningful relationships in order to truly understand his clients’ needs. Andrew has been a member of GABB since March 2023.
GREG DEFOOR is a business broker and CPA. He became a business broker in 2002 after working in public accounting followed by private industry experience as an accounting and financial executive in the healthcare and retail automotive industries. While in private industry, he was involved in analyzing business acquisitions and other related activity and decided to use that knowledge and experience to start his own firm. He has a unique blend of accounting, tax, corporate finance, and transaction experience to use for the benefit of his clients. He has an active Georgia real estate broker’s license. His firm, DeFoor Business Services, Inc., specializes in the sale of small and middle-market privately owned businesses in a diverse mix of industrial classifications. Mr. DeFoor is a past President of the GABB and served a total of ten years on the GABB board during his tenure as a GABB member. He holds a Bachelor of Science in Business Administration degree with a concentration in accounting from Auburn University.
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Does Your Company Have an “Orphaned” Product or Service?
Many businesses have a product or service that’s performing reasonably well, perhaps even thriving, but doesn’t quite align with the company’s core offerings. It’s often called an “orphaned” product—a good or service that is disconnected from the company’s main focus. If you find yourself in this situation, don’t panic. It’s more common than you might think. In fact, there are many buyers, from individual investors to private equity firms, actively seeking product lines that can complement or enhance their existing portfolios. Some may even be looking for a standalone product or service they can build an entire business around.
If you’re considering whether to divest your orphaned product or service, here are a few reasons why it might make sense for your company.
Improved Focus and Efficiency
One of the primary reasons to divest an orphaned product is the opportunity it provides to refocus your company’s efforts. An orphaned product, even if it’s successful, can distract your team and resources from the core business. Spreading attention too thin can hold back overall progress. By divesting, you free up time, energy, and capital to concentrate on what truly matters—your core products or services. This focus can lead to more effective innovation, better customer service, and faster growth.
Unlocking Capital for Core Business Growth
Another compelling reason to divest an orphaned product is the potential financial benefit. By selling or offloading the product line, you can generate cash that can be reinvested into your core business. This infusion of capital can help fund new initiatives, accelerate innovation, expand market reach, or even strengthen operational efficiency. In many cases, divesting an underperforming or non-core product is the fastest and most straightforward way to unlock funds that can drive meaningful growth.
Redirecting Resources to More Profitable Areas
Even if the orphaned product is profitable on its own, it may still be a drain on your company’s resources when you factor in management time, logistics, and operational costs. By divesting the orphaned product, you can redirect those resources toward more profitable areas of your business. In some cases, a seemingly profitable product might not be as strategic or scalable as other parts of your company. Divesting it could enable you to invest in higher-margin products or new markets that offer greater long-term potential.
Unlocking New Opportunities
Selling or divesting an orphaned product line can also open doors to new opportunities that were previously inaccessible. The capital, focus, and resources freed up by a divestment might allow your business to explore new product lines, enter new markets, or partner with other businesses in ways you couldn’t have before. This kind of strategic reallocation of resources can invigorate your company and create exciting avenues for future growth.
While divesting an orphaned product can provide significant benefits, it’s not without risks. Parting with a product line requires careful thought and planning. You will want to think about the impact on brand identity, customer relationships, and company culture. It’s important to weigh both the pros and cons before making such a decision.
Divesting can help refocus your company, unlock capital, and reallocate resources to areas with greater potential. However, it’s crucial to approach divestment strategically, with a clear understanding of the potential benefits and risks. In the end, a well-timed divestment can lead to growth and opportunity, but it’s essential to make the decision based on a thorough evaluation of your company’s goals.
Copyright: Business Brokerage Press, Inc.
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