Tim Hull

February 21, 2021
7 Tips – How To Sell Your Restoration Business
7 Tips for Selling Your Restoration Business Timothy E. Hull, CR How to Prepare for Selling Your Restoration Business Our clients consistently ask “How do I sell my restoration business?” Imagine coming home from work one day to find a real estate broker sitting in your driveway. They get out of the car, approach you, and politely make a cash offer to buy your house at the current market value. You, of course, tell them that your house is not for sale. The realtor persists and asks for a price that you would consider. You add 30% to their original offer and respond with a smile. They agree without objection and let you know they will draw up the paperwork. Feeling shocked and moderately confused, the scenario leaves you with one daunting question: Is this too good to be true? While this fictitious scenario might seem like a pipe dream, it’s not too far from the reality experienced over the past couple of years in the restoration industry. Large national contractors, private equity groups, and venture capital firms have been in a race to acquire as many dots on the map as they can. And they are paying top dollar
November 20, 2020
5 Truths of Business Continuity
5 Truths About Business Continuity as proven by 2020  Timothy E. Hull, CR    2020 has certainly proven to be an eventful year. Aside from a global health pandemic, national economic shutdown, social unrest, and a heated presidential election, the events of this year have wreaked havoc on the emotional well-being of most every American. We saw Main Street shut down in the blink of an eye. Professional, collegiate, and local sports totally disrupted in almost every way imaginable. And educational institutions completely reengineered in a matter of months. In retrospect, 2020 has been as close to a cataclysmic event for modern day society as we may get. Or hopefully get, as it’s not over yet!   Despite an economic shutdown, a stock market crash, record unemployment, and a virus that seems to have dominated the headlines of every media outlet on the planet, business continues. In the restoration and damage repair industry, not only is it continuing, a case can be made that it is flourishing for companies that were even moderately well-positioned and properly managed.    In my previous article, Pandemic-Proof Your Business, I explored four ways small business owners can position their company and pandemic-proof their business. Amidst the observation and testing of this theory in real life, we can conclude there are 5 truths which have now been proven about
September 20, 2020
Recession Pandemic-Proof Your Business
Recession Pandemic–Proof Your Business  Timothy E. Hull, CR    In the midst of what may arguably be the most significant global event since World War II, economists, politicians, community leaders, and most members of civilized society are struggling to come to grips with what the real fallout of COVID-19 will look like. Despite differing views and philosophical differences, the one thing many agree on is that this is far from over, and the real impact of this event will be felt for a very long time.  With unemployment rates lingering at record high levels, economic stimulus packages coming to an end, and state social distancing restrictions changing daily, how does one even attempt to predict what the future might hold for business? Even Wall Street is sending and receiving mixed signals. The prime lending rate is next to nothing, real estate markets are crazy, consumer spending is up, and nearly every logical economic theory would suggest that the worst is yet to come.  My career in the restoration field started in September of 2002. At that time, I was told the restoration industry was a “recession-proof” business. My observations and experience over the past eighteen years have supported that theory. This is not to suggest, however, that the world of restoration is bulletproof. And, if there was
March 20, 2020
When Employees Do Their Best Work
When Employees Do Their Best Work  Timothy E. Hull, CR    One would normally not think of a tailgate party for an NFL football game as an appropriate venue for providing inspiration for sage business advice. However, when you bring together some pretty intelligent folks, good food, and a few high-octane beverages, you never know where a conversation might go. This is exactly what happened this past fall when I had the privilege of attending such an event with some friends, where theories of employee engagement and productivity started flowing freely.   The good–natured banter surrounding company cultures, bosses, and corporate politics took a sharp turn after our second round of drinks when my fellow members of Steeler Nation began to reminisce about days when they felt they had done their best professional work. Now, we’re not talking about bar stool buddies critiquing last week’s play calling by the offensive coordinator. These guys are accomplished, corporate professionals with MBAs from Carnegie Mellon University’s illustrious Temper School of Business. So, when these guys talk business, it’s usually best to pay attention.  The statement that piqued my interest the most was when one of them proclaimed that he felt as if he did his best work when two conditions existed. The first was when his boss had a direct line to the CEO (healthy working relationship.) And second, when his