Once you buy a business, the real work starts.
It’s not enough to simply maintain the status quo, even if you’re making a profit. A fresh pair of eyes, and new ways to look at operations and revenue streams can help next-gen owners achieve real growth, experts said.
Just ask Vincent Valentino. He learned the ups and downs of business, first hand, in the trenches.
For years, he worked in the building-material supply sector. In the 2000s, he’d brought a company to new heights only to see it fold amid the 2008 housing crisis.
Tapping into the connections he had in the industry, by 2011 he became a partner in what is now Farmingdale-based Custom Door and Mirror. In 2021, he owned the company outright. In 10 years, the company grew from $1 million to $10 million in revenue.
The company specializes in closet doors, “a surprising little niche,” Valentino said.
Now, in a pandemic era plagued by rising costs, supply…
