“What strategies are best for renegotiating my commercial real estate loan?”
- Observations by Mark Hoiland, Platinum Associate
Business owners who have overextended themselves with real estate now owe
their banks more than the real estate’s market value. Many bought buildings with
10 percent to 20 percent down based on overly optimistic assumptions that their
businesses and real estate would continue to remain strong. The commercial
real estate market is experiencing the same decline in value that has befallen
the residential market. Banks lending against these types of loans have been
forced to place reserves against underperforming credits. Lack of capital and poor
market conditions have placed commercial real estate owners in the eye of the
“perfect storm.”
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“How can I transition my business to the next generation?”
- Observations by Steve Coleman, Platinum Partner
Many Baby Boomer owners who want to make a transition in their business – sell it outright, create an ESOP, move from manager to owner, etc. – are finding
that the next generation of owners and managers (Gen Xers) approach work
differently. “Business succession planning demands a clear understanding of
generational expectations,” according to James V. Gambone, Ph.D., an author
and researcher of intergenerational differences. An atmosphere of mutual
respect, listening and the ability of Boomer owners to “let go” will aid a successful
To survive in this
negotiation process.
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“How do I make technology more effective in my business?”
- Observations by Darin Lynch, Platinum Member and CEO, Irish Titan
Many business owners today feel that information technology (IT) is more of an expense than an investment. Their past decisions seem more like a waste of resources - which are now more limited than ever - than a way to gain a return in terms of new or ongoing sales. However, until leaders understand how IT can "enable" the business to move forward, it will remain simply an anchor without a boat.
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“How can I target the right decision makers for improving my sales?”
- Observations by Bob Cass, Platinum Partner
With the economy starting to recover, many owners are uncertain where to look for new sales opportunities. The marketplace landscape has certainly changed: competitors may have gone out of business, price competition is still eroding margins, and company layoffs may have reduced sales and customer service staff. The value of a Customer Relationship Management (CRM) system for developing and tracking a company’s go-to-market strategy is undervalued in many small and privately held companies. Yet it is a major hurdle to overcome to ensure the right customers are filling the sales funnel.
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“My business is losing money right now. What steps should I take to save my business?”
- Observations by Pat Brennan, Platinum Partner
Many business owners have been facing uncertain market conditions for the last year. Their customer buying patterns have been disrupted by the uncertainty facing all of us today. Unprofitable operations, a decline in the collateral value of assets used to support bank loans and erosion of working capital from ongoing losses are leading many owners to wonder if their businesses can be sustained.
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“ How can e-Commerce help my business?”
- Darin Lynch, Platinum Partner
During tough economic times, small companies are looking for new revenue streams but are uncertain about how e-Commerce can work for them. Online strategy is becoming more mainstream and accessible, but owners tend to view it with hesitancy. Any company that does not have current experience with online selling should definitely take advantage of this strategy to grow sales, according to Darin Lynch, a member of Platinum Group and CEO of Platinum’s online strategy firm — Irish Titan. Thoughtful e-Commerce, and overall online strategy can help improve business performance across all channels.
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"When Liabilities Exceed Assets, What Alternatives To Bankruptcy Do We Have"
- Bob Stewart, Platinum Partner
In this down economy, many companies are unable to meet their obligations to their lenders and vendors. In many cases, some form of balance sheet restructuring is needed. This often requires the cooperation of the secured lenders, the landlord and a substantial portion of the unsecured creditors. To gain that cooperation, business owners can look to Platinum to help. Click here to receive recommended actions and tools are available from Platinum Partner Bob Stewart.
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“Is It Possible To Profitably Grow My Business In This Down Economy?”
- Bob Cass, Platinum Partner
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As the down economy continues, owners and managers feel frustrated in their attempts to maintain their business, much less profitably grow their business. Platinum Partner Bob Cass provides activities and tools to help companies face decreasing sales and improve operations.
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"What Can I Do To Revive My Business In This Economy?"
- Pat Brennan and Bruce Mallory, Platinum Partners
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The first quarter of 2009 was especially unkind to business owners across the industry spectrum. In this difficult economy, owners are looking for vendor support; vendors are looking for payment. This is where cold and warm fronts are colliding.
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"What Can I Do About Transitioning My Business In This Economy?"
- Steve Coleman, Platinum Partner
Platinum is seeing nervous owners’ reactions in the marketplace, in addition to those taking a passive, defensive posture. Business owners seem stuck due to uneasiness and, for some, a deep, gut-level fear. The combination of negative influences in the economy has triggered a series of emotionally based decisions by many otherwise rational, intelligent leaders.
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Financial Survival in 2009: New Disciplines for Weathering the Storm
- Bruce Mallory
Many entrepreneurs can be likened to a skipper of a ship — without a navigator. With troubled waters expected ahead in 2009, charting course and weathering storms will necessitate a dynamic, comprehensive plan based on the best intelligence, with contingency plans ready to go if conditions worsen.
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