PARTNER SUCCESS STORY
How Providence Consulting Stays Prepared for Big Business Changes
Providence Consulting helps small businesses overcome their technology value gap. They deliver creative, innovative IT solutions that create a balance between the tech, skills and resources required to achieve maximum ROI.
Challenge
Getting and staying prepared for business transitions is critical — especially when owners never know when the perfect opportunity to buy or sell may present itself.
Solution
Learning as much as possible about mergers and acquisitions is critical for success. Collecting knowledge from industry leaders, other businesses and advisors who know how to navigate these circumstances with grace is a game changer — and they’re all at IT Nation Grow™.
Results
Armed with the knowledge and expertise of those who know mergers and acquisitions best, Jeff Dettloff, president and CEO of Providence Consulting, is better prepared to grab a selling opportunity by the tail feathers when the time comes.
Getting and Staying Prepared for Major Business Opportunities
“Everybody’s going to transition,” said Jess Dettloff, president and CEO of Providence Consulting.
Whether it’s three years from now or five, business transitions can come as a surprise. Rather than waiting for an event to present itself and then selling, Jeff wanted to organize himself and his business so he could plan properly for an opportunity.
Building a Knowledge Base With the Help of Business Transition Experts
“For me, the ‘Aha!’ moment at IT Nation Grow™ was everybody, whether you’re a buyer or a seller, is not going to be able to go through this [business transitions] alone,” said Dettloff. “You need an advisor, and there were a lot of advisors there [at IT Nation Grow™].”
For many years, Dettloff repeated the phrase “Everybody is going to transition,” which was the driving force behind why he chose to attend IT Nation Grow™. “It was much more than I expected in terms of content, the quality of the presenters and the quality of the knowledge,” Dettloff said. “It was kind of like drinking from a firehose.”
He spoke with advisors who knew the ins and outs of mergers and acquisitions for small, medium and large businesses and got to network with people who may eventually become a part of his company's future.
“Having quality time with those people was very important for me,” said Dettloff, “and it has changed my life.”
Learning Both Sides of the M&A Coin for Maximum Value
Understanding both sides of the buyer/seller relationship when it comes to mergers and acquisitions is “critically important” — not just for Jeff but for other business owners in a similar position, too. As a seller, it’s all about knowing the number one, two and three items that buyers expect and are looking for, and “that came out pretty loud and clear at the conference,” said Dettloff.
Now, no matter what prospective buyers throw at Providence Consulting, Jeff feels well-prepared to tackle any merger and acquisition discussion that comes across his desk.