Keep in touch with the latest in Nexus news to find out what we're doing to better service our clients and our community. Read through up-to-date developments and highlights in our company, along with current news releases and client success stories.
If anything you read peaks your interest or stirs thought, we would love to hear from you.
Local Business Grows During Recession
August 10, 2009
Nexus Business Solutions, located in Downtown Kalamazoo, recently doubled its staff of Business Advisors and added a Junior Analyst despite the current recession. Chief Advisor Jim Coyle, and Advisors Duane Feldman and Tom Earl recognized that as the economy worsened, the need for Nexus’ advisory services would grow as small and mid-sized companies were no longer able to ignore personnel issues, inefficiencies, and sub-par performance. Further, many of these businesses experienced a significant drop in business as the auto industry contracted. Finally, a large majority of small and mid-sized businesses are owned by Baby Boomers who are now trying to figure out how to either sell their businesses or successfully pass their business to the next generation in order to prosper in retirement.
Advisors Kevin Woods, and Tim Harvey, and Junior Analyst Matt Larson combine to bring a broad range of expertise to the company. Each Advisor has owned his own businesses and served in Executive level positions in the corporate world. Jim Coyle notes that, “Big companies have the advantage of an outside perspective from their Board of Directors, which can see the big picture and help management break through roadblocks and pursue opportunities. Small and Mid-sized businesses don’t have that. In reality, owning a small or mid-sized business is one of the toughest and loneliest roles in the business world. Our entire team of Advisors will help these companies move forward and meet their owners’ goals more quickly and efficiently.”
Exit Strategy Expertise a Must
January 16, 2008
Research completed by Nexus Business Solutions found that nearly half of small and mid-sized businesses are owned by Baby Boomers. To complicate the issue/situation, a survey by PricewaterhouseCoopers found that one out of every two company owners plan to sell their business within the next 10 years. This creates a perplexing catch 22; Boomers are quickly reaching retirement age just when the economy is least conducive to selling the business. Even worse, a full 90% of businesses coming up for sale owned by individuals who are 55 years or older have not initiated the planning process, according to a survey released by Bain Surveying, Inc. (dated September 11th, 2008). To further muddy the waters, many of these businesses involve multiple business partners, family, multiple generations, or all of the above. Often, an outside perspective is needed to remove the impasse existing in these situations, but sadly the same Bain's survey found 77% of business owners do not know there are experts in the process of planning exit strategies.
Nexus has risen to the challenge and expanded its resources and services for businesses in transition. Our resources allow owners access to conflict management and communication services, and strategy building. Owners will be assisted in 'polishing' their company so that it sells at the optimal price to those who will value it most. It has been found that business can get 20 to 50% more for their businesses if sold to the correct company or person. We take this process one step further as we continue to assist new owners to help them continue to grow the company, increasing the chances that recurring payments to the seller will be honored in full. Finally, Nexus partners with experts in the legal, accounting, banking, and financial services fields to create a holistic approach to the transition, making Nexus' new service the key factor to a successful exit strategy.
To talk to one of our advisors about your succession plan, contact us.
The Franchise Nexus Grows Franchises in a New Way
October 12, 2006
Nexus Business Solutions’ owner, Jim Coyle, has created The Franchise Nexus to greater serve the needs of franchise companies. A solely-owned subsidiary of Nexus Business Solutions, The Franchise Nexus takes a different approach to selling franchises: the franchisor spends time selling to the people they want as franchisees, rather than waiting for the prospective franchise owner to come to them.
The Franchise Nexus firstly researches those that will most likely buy a franchise in a certain area and will best fit the franchise company’s culture. The professional sales people then make the first contact to stir the prospect’s interest and entice them to set-up a meeting with the corporate office.
“The majority of franchises post ads on websites, and then they sift through thousands of applicants that end up being mostly tire kickers. We feel that The Franchise Nexus’ method will greatly improve a franchisor’s ability to grow their company as they envision, and also clear up the pipeline that is clogged by dead-end prospects," Coyle said.
The Franchise Nexus has an exclusive agreement with Nu-Ventures, Inc (the franchisor for Samuel Mancino’s, the sub and pizza quick-serve restaurant based in Southwest Michigan) for one and a half years.
For more information on The Franchise Nexus or getting information on a Samuel Mancino’s franchise, contact us.
Nexus Gets Down and Dirty
September 20, 2006
Last Thursday night, Jim Coyle, Lead Advisor, and Andréa Hammond, Lead Analyst, presented “Down & Dirty: Basics to Start Your Own Business” at the Kalamazoo Public Library (KPL). They discussed what all people should know before embarking on a business venture, including why small businesses fail and the attitude entrepreneurs need to grow a successful business.
The seminar was organized as a preliminary to the steps of start-up and focused on what it takes, mentally, to be a business owner. Topics included common mistakes small business owners make and lessons on managing time, money, and people.
The seminar’s theme revolved around the number one reason why businesses fail: poor management. In other words, the business owner is the reason why the business fails or succeeds. “You would be hard pressed to find a business failure that was not a direct result of an owner’s mistake. As an owner of multiple companies, that thought both reassures me and terrifies me all at the same time,” Coyle said.
Coyle and Hammond also discussed the number one marketing mistake of small businesses: not having a target market. “Most small business owners try to please everyone, thinking they’ll win more customers. But, in reality, they only partially fulfill the needs of many people, rather than creating loyal customers by concentrating on fulfilling the needs of a specific type of person. One store could never please everyone, unless they had the wealth of Wal-Mart to do so,” Hammond said.
The presenters left the class with the final message: “Know thyself. Know thy customer,” which means that business owners must know who they are and what motivates them and, at the same time, know how to serve their customers that keep their businesses in business.
Nexus plans to put on more Down & Dirty seminars at the KPL in the future, but none have been scheduled as of yet.
Nexus Builds the Community One Small Business at a Time
March 11, 2006
Nexus Business Solutions has been working with community organizations, including the Northside Economic Potential Group (NEPG) and the Michigan Small Business & Technology Development Center (MI-SBTDC), to inform entrepreneurs on how to form and establish a successful business and also prevent its failure.
Through these organizations, Jim Coyle, Lead Advisor, and Andréa Hammond, Lead Analyst, teach those interested in starting a small business what they need to know to grow from infancy to maturity. NEPG's mission is to restore economic vitality to Southwest Michigan by providing training, economic, and technical assistance to new and existing businesses, entrepreneurs and the self-employed. In conjunction with Nexus the NEPG offers “New Ventures,” a thirteen-week class that guides adult students through the business plan process. For more information on the NEPG, follow
The SBTDC offers “Create a Business Plan that Works for You” a three-hour training seminar which Jim teaches. The class is usually offered the fourth Thursday of each month and it covers the essentials to writing a business plan and how to run a business. The MI-SBTDC, a part of the Small Business Administration, provides services to small businesses in the form of counseling, training, and research. For more information on the MI-SBTDC in Kalamazoo, follow
Nexus Business Solutions Broadens Its Services
January 16, 2006
Andréa Hammond joined Nexus Business Solutions as Lead Analyst in January 2006. Her unique capabilities in research, writing, and entrepreneurial study broaden the scope of services that Nexus provides its clients.
Hammond is very excited and optimistic about her future with Nexus: “I feel that my work with Nexus brings out the best in me to the benefit of both the company and myself, personally. It allows me to use and grow my skills, experience, and creative talent in a way few other opportunities could. I’m excited to see what possibilities are in store,” Hammond said.
Andréa’s expertise in small business growth and development drew from her years of work with the MI-SBTDC at Kalamazoo College.
SouthWest Michigan Now has Access to a Worldwide Network of Business Advisors
July 26, 2004
Jim Coyle, President of Nexus Business Solutions, has been honored with the international accreditation of the Institute for Independent Business (IIB). Coyle’s accreditation is the only one of its kind in SouthWest Michigan. The Institute is the leading global organization of business advisors, whom are trained and accredited in advising and helping small- to medium-sized businesses. The criteria to become a member are extensive. Coyle was required to have owned multiple companies and demonstrate his exceptional business savvy.
”I am really excited about this opportunity. With this accreditation, I have the resources of over 3000 other advisors around the world. Which means Southwest Michigan just got its largest business advisory company. Plus, those advisors are not on Nexus’ payroll, so I am able to continue to work with the market that I love.”
Due to Coyle’s accreditation, a business owner in SouthWest Michigan can now gain access to over 3,000 distinguished business minds around the globe who also met the IIB’s high standards for admittance. This enables business owners to replace feelings of isolation with feelings of confidence and assuredness, knowing he or she has a worldwide network of skilled business professionals working for them.
For more information on the IIB, follow
To talk to one of our advisors, contact us.
How May We Help Your Company Move Forward
- If I could only get everyone rowing in the same direction.
- If I could just surround myself with great people.
- If I could stop the guessing and actually know what is going on.
- If I could just clear the path and get everyone solving their issues.
- If we could only be more productive and dependable.
- We just aren't getting any traction.