Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
At first, Judy Hoff wanted nothing to do with Frank Cesario.
Her company, Healthcare Academy in Henderson, had received assistance from the Southern Minnesota Initiative Fund, and part of the requirement to participate was a business assessment.“
Oh lordy, I was terribly busy,” recalls Hoff, CEO. The consultant “wanted half a day. I thought, ‘I need help, not an assessment.’ ”
But Cesario, the consultant who showed up, turned out to be her lifeline. He is vice president-acquisitions for Mankato-based Coughlan Cos.
“He was just delightful,” Hoff says. “Frank became my biggest gift. He helped me develop a successful sales process. He taught me every emerging company needs a sales angel.”
That means someone sitting on your shoulder, watching every detail of the sales process to make sure your company generates enough revenue.
Calling Cesario “very analytical, and very personable,” Hoff says he scrutinized the company’s numbers, starting with the overall revenue goal.
Then he coached her to prepare a sales funnel: First, prospects. Second, qualified prospects. Third, proposals. Fourth, contracts.
“He said, ‘These are how many you need at each step of the process to convert to sales,” Hoff says. He also helped her develop tools to measure the steps, to minimize surprises. Now the company has weekly sales meetings, and looks hard at the numbers each month.
Her business, which focuses on training health-care workers, has two “sides”: one that develops an online general curriculum, and another that develops customized training materials. In the former, the ratio is 25:1 contacts to customer; in the latter, it’s 10:1. Hoff rattles off those ratios so quickly that Cesario would be proud.
“Frank taught me you need a sales angel to sit on your shoulder to watch what you’re doing. Pick someone who is knowledgable,” Hoff says.
Frank Cesario, Coughlan Cos; 507.625.2746; f.*******@***************es.com; www.coughlancompanies.comJudy Hoff, Healthcare Academy: 952.292.2994; jh***@***************my.com; www.healthcareacademy.com
