One of the challenges that many entrepreneurs will face at some point in their career is the decision to move from operating independently to selling to or merging with a larger organization. With every such move there is an opportunity cost. As an entrepreneur running your own private company you often have the freedom to captain your ship and make decisions with impunity. The direction of your company is solely at your discretion. By selling to or merging with another organization, you run the risk of giving up some or much of that control for benefits that range from financial to resource based. In every case, there is a cost benefit analysis that takes place in the mind of the entrepreneur. Fortunately for me, the decision to merge my company, Equity Trends Valuations Inc., with Fazzari + Partners LLP was an easy one.
At the time I had been running Equity Trends Valuations for seven years, with the last three spent operating out of a space within Fazzari + Partners. Over those three years the relationship between myself and Fazzari + Partners had grown significantly, and with it an idea began to take hold. Operating independently, I was pleased to have had the opportunity to help many by providing valuation services to businesses, families, and individuals within the Vaughan area. But one of the challenges I then faced came down to my reach and the scope of my business.
Valuations is all about helping people understand the value of their assets. For a business owner, this could mean understanding the value of their business for the purposes of everything from standard financial reporting, to a merger or acquisition, to litigation or shareholder dispute resolution. For individuals or families, the need for valuations could mean successful estate planning, or another step towards a resolution in a personal or matrimonial dispute. In every case, working as a valuator means providing the expertise to create clarity and peace of mind for the client. This was something that I had been able to achieve through Equity Trends Valuations, but it was also something that I wanted to expand, and that’s where the merger with Fazzari + Partners came into play.
Merging with Fazzari + Partners LLP and launching Fazzari Valuations Inc. has given me access to the resources of an experienced, respected firm servicing clients throughout Canada, the United States, and Europe. Moreover, it has given me the opportunity to combine my expertise as a valuator with those of Carlo Viola, a Partner at Fazzari + Partners LLP and an experienced valuator in his own right. Working with Carlo as Valuation Managing Directors, and now with myself as a Partner at Fazzari + Partners LLP, our goal with Fazzari Valuations is not only to provide necessary valuation services to the current clients of Fazzari + Partners, but to leverage our combined resources and expand the reach of Fazzari Valuations within and beyond Vaughan, Ontario, and Canada as a whole.
When the opportunity arose to merge with Fazzari + Partners LLP, it seemed very natural because when I looked at the possibilities of what we could build together I saw three things:
- Our visions aligned: One of the challenges faced in the business world today is the concept of customer experience. No matter what industry you’re in, customers are looking for an improved relationship between themselves and the firms they work with. My dedication to providing personal attention and connection with each of my clients is one mirrored by Fazzari + Partners, which made us an immediate match.
- Our resources matched: Supply and demand exists on both sides of every partnership. Merging with Fazzari + Partners LLP has opened doors to the resources I need to continue to deliver value but on a greater scale, while Fazzari + Partners is now able to offer their clients an additional important service.
- Our clients benefitted: This seems obvious, but it bears mentioning. The client (or customer) needs to be at the center of every business decision. Before we make a decision, this is the final critical check we need to make before we commit to an action. The merger between Fazzari + Partners LLP and Equity Trends Valuations Inc., the launch of Fazzari Valuations Inc., is a move designed to create greater value for our combined clients. If an opportunity before you does not deliver material value to your clients, it is an opportunity that may need to be rethought.
At the end of the day, every new opportunity is unique. As an entrepreneur you will be dealing with a host of factors and challenges that will influence your decisions. In my case, the decision to merge my company with Fazzari + Partners LLP and help launch Fazzari Valuations Inc. made sense because, amongst other things, it met those three checks. Even beyond entrepreneurship, as your career grows, consider with each new opportunity whether you visions align, your resources match, and whether you believe your clients, new and old, will see material benefit. If those come together, it is likely to be an opportunity worth pursuing.
by: Douglas Craig, Managing Director, Fazzari Valuations Inc.
