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State of the Company
Valued Representation... It’s the meaning behind our
name; it’s what we deliver to every client.
Drawing
on our heritage as the leader in the sales of privately-held business, VR and
its specialized intermediaries around the globe continue to define the
organization’s market position as the company that cares and respects its
clients.
We are proud of our long history of keeping our promises to our clients, and believe that we are in a better environment than ever to capitalize on hard work and our superior position in the markets where we operate. While we are confident, we are not content. We are always thinking about what comes next. That’s the sign of a healthy business.
Recognizing that our challenge now is to build on our legacy and realize the full potential of our organization; we are positioned, have the strength and the talent to accelerate growth.
Strategy Delivers
During 2011, we capitalized on the established series of strategies developed the prior year, which were critical to increasing the strength of our domestic and international business. These strategies culminated in an increase in top line revenues of 9%, and income prior to taxes increasing by an astounding 26%. Our results underscore our confidence in our business strategies to succeed over the long term with a focus on controlled growth rather than sales based on survival.
We’re improving existing business models and developing new ones to meet the demands of our general business sales core, and the exploding lower middle-market sector where the brand continues to develop.
This past year was not for the faint of heart; but at year-end, the jobless rate dropped to a near 3-year low of 8.5%. This is the strongest evidence yet that the economic recovery is gaining steam, and VR is positioned to help put America back to work.
Veterans into the Fold This coming year, VR will be supporting Veterans with opportunity inside the organization. VR was again awarded the honor of being a “Top 50 Franchise for Veterans.” And with our deep appreciation for the service and sacrifices of members of the military and Veterans, we have introduced the VR-VET50 Program. As a company, we understand the value Veterans bring to the workforce and the entrepreneurial population, including practiced leadership skills, commitment, discipline, ability to perform under extremely stressful situations and a solid work ethic.
In 2011, the Clinton Global Initiative hosted an event to focus on the U.S. economic recovery, where a myriad of organizations assembled to create short-term solutions and long-term strategies for growth. VR was invited to join a Veterans Working Group, which focused on strategies to lower unemployment among new veterans. VR is committed to the innovative VR-VET50 Program, which helps veterans attain the dream of business ownership. Talent and Leadership Bring Success
The talent of VR people is the single most important factor in our ability to differentiate ourselves from the competition. It is the essential element that enables us to be responsive in times of adversity such as the past three years, and in times of opportunity that we hope is ahead in 2012. By committing ourselves to cultivating talent and leadership throughout the organization, we are doing what is needed to make sure our business thrives for decades to come.
Our focus on talent touches every aspect of how we manage the operations. It requires us to embrace collaboration and diversity. It means understanding where we are strong, where we need to work harder to develop, and where we need to seek fresh ideas. By committing ourselves to attracting and developing the best talent in our profession, we believe VR will be able to deliver more value to our clients.
The mission: continue to build a globally recognized brand. The vision: to help clients around the globe acquire or divest the privately held business.
The target: domestic and international growth with the best people. We thank those who have made the organization prosper in challenging times, and for their continued support. It is the hard work of many, who have paved the road for a great 2012.
On behalf of both of us, and intermediaries around the world, we remain,
Peter C. King JoAnn Lombardi
CEO President
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