The best performers are indeed different, often because they manage differently. In representing many of the best and the brightest, as well as in conducting interviews of industry leaders for best-practices seminars, we have discovered that the overachievers share many of the same management traits. Here, then, are seven habits of highly effective home care managers. We found many instances where managers with a strong network in non-competitive situations developed mentor-student relationships that often included on-site visits for the specific purpose of sharing best-practice information. As entrepreneurs in close-knit organizations often suffer from an unhealthy inbreeding of thoughts and ideas, networking can be a critical element in company success. Certainly there are other management traits that are important, but virtually all of the best performers...

There are many ways to value a company in merger and acquisition situations. In this article, I will discuss several standards of value, in contrast to fair market value. Fair market value is, essentially, the average cash value a buyer is willing to pay a seller for a company when both parties have adequate information about the company and neither is compelled to buy or sell. I also will focus on the most common valuation method, where buyers ascribe a multiple to earnings — typically earnings before interest, tax, depreciation and amortization, or EBITDA — where the multiple is based on required rates of return that reflect the risk of the business and the industry. Here then, from a practical perspective, are the most common...