BUSINESSPHD.COM

866-465-2570 dr@businessphd.com

Company #1

Dennis Hogan began working with my company in 1996.  We were just plain burned out after operating the company for 23 years and were attempting to sell. We had listed with two different business brokers and paid good sized retainers for their services and after about 18 months we finally pulled the plug.  The brokers brought unqualified buyers that wanted to buy us for less than our asset value. It was unacceptable to us. We had found Dennis’ site on the  internet and my wife finally insisted that I give him a call.  I figured it would be more of the same B.S. as the brokers gave us. After an initial 2 hours conversation with Dennis I knew their was something defiantly different about him. He seemed to understand and see things about our company that I never realized but were obvious when he stated them.  His first advice was not to sell our company, at least not yet. He explained that we had damaged the value of the company by telling everyone it was “for sale”.  What he explained made perfect sense and I remember wondering why the brokers didn’t know this. Dennis said that our company was in extremely poor position to sell.  He really stressed the need for confidentiality whenever you sell a functioning company.

We had owned the company since it began machining structural parts for truck trailers.  We started with 3 employees including myself. Over the years we grew out of necessity trying to keep our customers happy. At the time we contacted Dennis we had 63 employees including my wife and myself and were creating gross revenues of about 6 million a year.

We had used consultants before for special projects like safety and lean manufacturing. They all came in and did some type of analysis and then gave us a plan to follow and implement.  They were successful to a degree but things always seemed to slide back towards the old way once the consultant was gone.

Dennis was hugely different. He analyzed the business then the very first thing he developed for us was a plan to build what he called “proper structure and protocol”. He spent about 10 hours with us each month giving us guidance in how to develop and make use of corporate business practices as they fit our small company. He was available to us at any time to bounce ideas off and he continually contacted me for updates. We used the phone, internet and fax machine to relay information. The thing I remember when we reach what he called the first level was feeling relieved.  It was easy to see at this point what he meant by structure.  I was getting home earlier at night and sleeping much better.  I actually started feeling good about the business again.  Everything I knew about running a business I had learned by doing. Then Dennis came in and made these changes so effortlessly.  I can’t define exactly what it is he did in words but it was like the difference between playing basketball on a court with all the rules, referees, and lines compared to a blank court with no rules or lines and a blind ref..  

After 18 months Dennis ask if we still wanted to sell. We were still both working 40 hours a week and we thought a break would be nice so we said yes. Dennis said “No you don’t!   Look at your financial picture.”  Our company had increased revenues about 6 percent and increased net profit by 48.4%.  This was fantastic to us since we had been pretty flat for the last 4 years but we were just tired of working.  He said “Quit then!”  Of course we thought the company would fold and not survive.  He explained to us that the structure we developed was a much stronger foundation to keep the company operating than either one of us could ever be and besides he would be keeping an eye on everything. Essentially he explained that with the additional profits we could easily replace ourselves with employees that were probably more qualified to do those jobs than we were.  It was difficult for us to swallow but we had to admit he was probably right. Over the next 6 months he had us phase out of the day to day operations until we did nothing but conduct a weekly meeting with the department heads and a monthly conference with our accounting firm.

In summary we went from being burned out on our company and trying to sell it to being absentee owners and enjoying income that was actually higher than when we worked 60 hours a week. We smile and spend time with each other and talk with Dennis at least once a month.  As of the date of this letter we have been completely absentee, except the meetings with the account, now for almost 5 years and as Dennis points out we have received almost twice as much in earnings as the brokers wanted to sell the company for. Our fees to Dennis were less than what we would have paid a production machinist in our shop.

Darrell and Marita D.

Company #2

Restaurant Chain, 4 stores, 68 employees, Family Owned & Operated

We used Dr. Hogan’s services to assist in a transition after our Mother passed away. Our mother had always been the driving force behind operation and management of our restaurants. Within 6 months of her passing our business began to spin out of control and disintegrate.  We are a family of 4 siblings, two with MBA’s and we were feeling helpless! Tensions between us had began to destroy family and business. We were ready to divide the restaurants individually and give one to each sibling to do as they pleased. In our searching for assistance Dr. Hogan was recommended to us. After talking with him personally I was convinced that dividing the stores was the wrong thing to do.

In short over the next two years Dr. Hogan guided us like a CEO would in setting up functional and proper structure where each individual had two functions. One as a board member and the other somewhere in the management structure servicing all of the restaurants. Although each of us had experience as an individual restaurant manager before now Dr. Hogan guided us in understanding the problem with this and helping us re-realize that success as a group meant success as individuals.  This allowed all of us to have normal lives with time off for our children and family hobbies.  Our business came together once again functioning as a cohesive group. Revenue increases followed and we were more profitable and efficient than ever before. We have been with Dr. Hogan for nearly 5 years and are sad to see him go.

Josh, Peter. and Joseph, R. and Mary T.

Company #3

Electronic Circuit Board Manufacturer, 27 employees, 14 years in business, operated by husband and wife.

My husband and I had been in constant turmoil over the business for almost three years. I had filed for divorce basically because we didn’t like each other anymore. This was due mostly because of the business problems.  It had not been profitable and we were making less income at the time than 10 years prior. I originally contacted Dennis to have him do an evaluation on the business for the divorce.  Upon meeting with him during his analysis he began to point out things about the business that were being done improperly.  His conclusion of the value was very disappointing. It wouldn’t have even covered the debt it owed.  When asked his advice he explained his consulting program and what we could expect to gain if we moved forward on it.

Now 29 months and 14 days later I find myself still married, lol, and happy I might add. Our little business is doing great again.  No more long hours and when something comes up unexpectedly we have the structure and protocol to deal with it as well as Dennis. No more arguing! Dennis meets with us monthly via conference call and we submit our information to him through out the week and receive updated analysis results each Tuesday by E-mail.  He has provided us with invaluable experience and guidance that we just couldn’t find or afford anywhere else.

Company #4

Construction Company, 7 employees, founded 1983

I contacted Dennis through referral from my banker.  I had always been under the impression that my company was to small to utilize any type of outside consulting or leadership help. My company was typical of the small contractor basically living from one job to the next mostly depending upon relationships I had developed with larger contractors who would hire my as a subcontractor to work on their projects. This of course put me in a position where I had little to no control over my destiny.  I was constantly borrowing money to meet payroll and paying that off when I was compensated for the finished job.  However after a project that ended in bankruptcy left me in a real bind because I did not get fully compensated for the contract I had to increase my loan at the bank.  To do that I had to put a 2nd mortgage on my own house.  My banker warned me about the potential consequences and insisted that I contact Dennis.  I met with Dennis the first time very skeptical of how his work could help such a small company. After his analysis we spent a couple hours discussing how my company had began and survived in the years past.  Then he proposed that I let him reorganize the company and develop structure and protocol.  At first I agreed to keep my banker happy.

After Dennis brought his outlined plan to me and explained what was going to happen he presented me with this question: “ Do you want your company to work for you or do you just want a job working for your company?” I ask him what he meant. With the explanation I quickly agreed it would be nice if it could work for me.  Over the next 6 months I learned what structure meant in a business! Once in place it was easy to see the benefits and I no longer felt so stressed during a project.  Included in our program with Dennis was developing direct contracting work for consumers instead of just being a sub contractor.  I had always avoided this because of the hassles I associated with it.  With the new process it was simplified and easy to deal with.

The overall benefits are amazing compared to what I was doing prior to working with Dennis. I work pretty normal hours now.  My employees are all very content and I have a constant pipeline of business from consumers.  When 911 occurred and the economy slowed I was prepared and had business lined up to easily take us through those months.  Before Dennis I could easily have failed during those months.  I want to thank Dennis and let others know that if you have questions just ask Dennis what he can do to help.

Jack P.

(More coming)

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