BTF Insider

At Business Transitions Forum Atlantic, Adam Doiron, Owner of Prince Edward Island Preserve Company and former owner of Coach Atlantic Group; Jalal Jetha, Managing Director of Cascadia Equity Partners; and Dwight Fraser, Founding Partner of Franchise Management Inc., Fensmarket Inc. and Clearstone Capital, joined moderator Jillian Murray, Partner at Doane Grant Thornton LLP, to share what decades of acquisitions have taught them.

Business owners know their companies better than anyone. That expertise is one of their greatest strengths, but it can also create a blind spot. The longer owners spend immersed in the day-to-day, the harder it becomes to see the business through the eyes of a buyer.

Most businesses don't stop growing because they run out of opportunity. They stop growing because the leadership that built the business isn't the leadership the next stage requires.

Successful transitions rarely begin when an owner decides to sell. More often, they begin years earlier through decisions about leadership, succession and growth.

When Steve Belyea started BASE Engineering, he had little more than an idea and a single customer. Over the next three decades, he built the company into a global business serving customers in 28 countries, completed two successful exits, and learned some expensive lessons along the way.

Building a business often looks straightforward in hindsight. Growth milestones, new locations and successful exits tend to become the visible markers of progress. Justin John and Eric Velez-Chua know the view from the inside usually looks different.

Some industries force clarity. Energy is one of them. Cycles move quickly, capital is unforgiving and decisions have long consequences. For entrepreneurs operating in that environment, the margin for error is smaller and the feedback is immediate.

For many business owners, transition has traditionally been something left for later, tied to succession or a future moment when the timing felt right. That approach is shifting.

Some businesses are built in environments where conditions are predictable. Others are built where conditions are constantly shifting. For Geoff Gay, leading Athabasca Basin Development has meant operating in the latter. Northern geography, resource cycles and global forces all shape the outcome, often in ways that’re outside any single company’s control.