Perspectives
The Ten Pillars of Enduring Business Value examine what makes a business stronger to own: a clear purpose, a capable team, a compelling offer, repeatable performance and protection for the value being built. They also help reveal what would need attention before a transition—but a sale is not the reason to begin.
Patrick Golden on evaluating unsolicited interest and choosing the right fit.
John Wislawski on what was at stake, and what made the difference.
Cross-border negotiation, acquisition financing and ongoing independent board advice.
Read Moran’s storyOriginal articles are available below. Historical pieces reflect their original period. References to legal requirements, credentials, and firm practices should be read in that context.
Governance
By Joseph (JD) Durnford
Ten questions about governance, preparing for the unexpected, management succession and shareholder transitions in privately held and family-owned businesses.
Special situations
By Joseph (JD) Durnford
How owners and their advisors can evaluate shareholder transitions, capital needs, and unexpected acquisition opportunities to build a stronger business and a more workable ownership arrangement.
Ownership decisions
By Joseph (JD) Durnford · For wealth advisors
When a client’s financial plan depends on a business sale, family succession, or growth decision, ownership expertise can help test the assumptions and coordinate the advisory team.
Ownership decisions
By Joseph (JD) Durnford · For wealth advisors
Why rollover equity deserves review as a new investment, with attention to liquidity, control, capital structure, and the owner’s financial objectives.
Do-it-yourself transactions
By Joseph (JD) Durnford
Finding the buyer—or the business you want to acquire—is only the beginning. How transaction experience helps owners protect value, assess risk, and retain control of the decision.
Ownership decisions
By Joseph (JD) Durnford
A return to the confidence trap, the bandwagon, and lost strategic focus—and the role of independent counsel in consequential decisions.
Ownership decisions
By Joseph M. Durnford and Jeffrey A. Sasakura · Chief Executive · January / February 2014
The original article on how CEO biases can derail transactions and obscure opportunities.
Governance
JD Ford & Company · Historical perspective · 2008–2009 financial crisis
Questions for directors about risk oversight, liquidity, financial distress, and independent financial and legal advice.
Hear Joe in conversation, along with a client’s perspective on working together. Listed newest first.
This Is M&A
· Guest conversation
Joe discusses the Ten Pillars of Enterprise Value, preparation for a transaction, and the judgment behind consequential ownership decisions.
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The Think Small Podcast
· Guest conversation
Joe reflects on building JD Ford, navigating unexpected events, and the importance of preparation, negotiation, and trusted relationships.
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The Top Floor Podcast
· Guest conversation
Joe joins Darren Kanthal to discuss trust, empathy and the financial and personal decisions involved in mergers and acquisitions.
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M&A Masters
· Client perspective · Tom Brinegar
Tom Brinegar of PEAK Resources discusses choosing a strategic buyer and the guidance Joe provided throughout the process.
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Scale Up With Nick Bradley
· Guest conversation
Joe and Nick discuss building business value, assembling an advisory team, and preparing for the emotional and financial decisions involved in an ownership transition.
Listen to the conversation (opens in a new tab)M&A Masters
· Guest conversation
Joe discusses understanding the reasons behind a transaction, positioning a business for the right buyer, and navigating transaction terms.
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Exit Readiness
· Guest conversation
Joe discusses building transferable business value with the owner’s eventual goals in view, whether a sale or a transition to family or key employees.
Watch the conversation (opens in a new tab)These aren’t ten things you do to sell your company. They’re ten things that build a company worth owning, one you could sell when the time is right.
The framework comes from three decades in the boardroom where buyers and sellers meet, learning from the successes and failures of business owners, dealmakers and private equity investors. Look at your business the way a buyer would, pillar by pillar, and you can see exactly where your value lives, and where it leaks.
The Foundation
Why you exist, and who does the work.
What carries a company through tough times, and what makes customers loyal before they can explain why.
A capable team improves decisions, creates room for leadership development and reduces reliance on any one individual. Owners gain flexibility without diminishing the role they choose to play.
The Offer & the Market
What you sell, how it shows up and how you win customers.
What gets the customer to buy again, and again. Loyalty isn’t a slogan; it’s a repeat purchase.
How the business presents its value to customers, employees and partners—and, when relevant, to investors or a buyer. Clear presentation begins with a business that delivers on its promise.
Winning customers on purpose. Growth should be a system you can repeat, not luck you can’t.
The Operating Foundation
How it performs reliably and grows deliberately.
Set the direction for growth, capital and leadership. Make ownership and succession choices deliberately, with a practical view of what the business and the owners will need.
Reliable ways of working support consistent results, resilience and scale. They help the business perform without depending on one person being everywhere at once.
Every key relationship is either your best asset or your biggest single point of failure. Know which.
The Payoff & the Moat
Whether it makes money, and whether you can keep it.
Sustainable earnings and cash flow fund reinvestment, support owner returns and preserve choices. Understand what produces them and what the business must spend to maintain them.
What is legally yours and hard to copy: the moat around everything else you built.
“You don’t need to sell to win. You need a business that could sell — because that’s the same business that’s a joy to own.”
Joseph (“JD”) Durnford
Request a Ten Pillars AssessmentA Ten Pillars Assessment examines the strengths, dependencies and risks that shape the value of your business. You receive a written assessment and a prioritized plan for strengthening the business and preserving ownership choices.
Begin with the situation and what matters to you. We will help you examine the alternatives and decide on a considered next step.
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