We are seasoned professionals with decades of entrepreneurial and corporate experience and the passion for taking businesses—between wall street and main street—to heights they never imagined. If you are a business owner and technical expert in your field, but lack the resources and knowledge that larger organizations take for granted, we can help. Our valuation tools, business advisory consultations and training are designed to help you so that you can spend time doing the things you love.
Innovative Business Advisors works with private company owners throughout the country who want to learn what their business is worth. Once they know the current value, business owners often want to learn what they can do to grow the worth and value of their company. We teach them how to grow the business worth over time.
When the time is right to sell to employees, family or friends, or to an outsider, our business advisors work with business owners to position the company to be ready for transfer. IBA requires that the business possess three primary characteristics: 1) at least five years (5 yrs) of continuous operation; 2) complete set of financial documents compiled by an accounting professional; 3) a price expectation that is in-line with the current market place.
Steven Denny co-founded Innovative Business Advisors in 2018 and serves as a Managing Member of the firm. Steve has been actively engaged in M/A activities in a wide variety of industries for the last 14 years and has developed specific products to assist clients in growing their profitability and enterprise value. His specialty is working with established private companies in the lower middle market with annual revenues from $1 – 50 million.
Prior to founding his own firm in 2005, Steven spent 25 years as a senior executive in the hospitality management business working with two Fortune 25 companies. During this time, Steven distinguished himself as an exceptional business development and leadership professional, perennially appointed as member of the “Chairman’s Club”. This led to his appointment to lead the formation of a common platform used to manage customer relationships globally.
Born and raised in California, Steven paid his own way through college beginning at the University of North Carolina and culminating at High Point University. As a lifelong learner, Steven has completed executive training with Six Sigma (green belt), Xerox PSS, Karrass Negotiation, Miller Heiman and several others throughout his corporate career. Today he is recognized as a business and valuation expert in the Hospitality industry. Steven has also served in public office as a member of the Board of Education and continues to serve his community including several years as Chairman – Finance for the ~4,500 member household Community Association overseeing a multi-million dollar annual budget. He is active in the local Chamber, his church and various other civic organizations.
Terry Lammers grew up watching his parents run their own company in the fuel & lubricants industry, and eventually came on as a full-time employee in the early 90’s and took over as President of the company.
In just 18 years, TriCounty Petroleum had purchased 11 different companies, growing Terry’s family business from $750,000 annual sales to over $40 million when the company was sold in 2010.
Today, as Co-Founder and Managing Member of Innovative Business Advisors, Terry taps into his financial expertise and hands-on business experience to advise and guide business owners who are interested in learning the value of their business, the process of acquiring new businesses, or knowing when and how to sell their business.
Terry received his designation as a Certified Valuation Analyst (CVA), which is an accreditation through the National Association of Certified Valuation Analysts (NACVA). He also holds a Real Estate Brokers License with the state of Illinois.
In Terry's book, "You Don’t Know What You Don’t Know: Everything You Need to Know to Buy or Sell a Business," he provides an in-depth examination of the process of buying, growing, and eventually selling a business. No matter what stage of business ownership you’re in, Terry will help you understand how to navigate the twists and turns of the business cycle and steer your enterprise toward success.
After doing my MBA in Japan and working in forecasting, organization development consulting, and M&A, I realized that there was a better approach to gaining buy-in and helping people chart their best path forward: coaching.
I returned from Japan after five years and completed a Masters in Geriatrics after which I ran a care management practice as well as my consultancy. While working with numerous caregivers and business owners as well as serving as a hospice chaplain and grief counselor, I realized there were a lot of common denominators. The top five reasons that business owners sell their companies are: burnout, death, divorce, becoming a family caregiver (or other family crises), and retirement. As you can see, retirement is the only factor that can be planned for.
So, I completed my training as a Professional Certified Coach, did a doctorate in Community Organizing, and put all of these skills and experiences together to serve business owners who were facing the challenges of business ownership and the daunting task of letting go of what they have built over so many years.
This is why I am passionate about walking with business owners through all stages of their ownership cycle to help them have the best experience possible. As business/M&A advisors, we at Innovative don't only want to get you the numbers that you want and deserve, but also the experience and quality of life to go with it.
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