The canonical models, explained for operators.

John Warrillow's framework for what buyers pay for, expanded with Foundry's commentary on what remains useful and what has dated since Built to Sell was first published. The eight drivers map roughly onto, but do not replace, the five risk axes Cordis uses today.

The canonical buyer-side framework Cordis uses across MRI and Group engagements, synthesized from Warrillow's value drivers, Damodaran's discount stack, Pratt's Stats empirical record, and Cordis Institute's review of 200+ engagements. The framework operationalizes what buyers price as risk in lower-middle-market transactions.