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Summer Reflections

 

The late spring and early summer rains seem to have finally let up in the Midwest. The stock market has begun to rally again, but other economic indices remain mixed. Perhaps it's fair to conclude that the economy is beginning to find its footing, but by any measure, we certainly we have a long way to go.

While the overall economic environment certainly has an impact on your business’s current well-being, your business’ success or failure can be traced to how you are managing and the metrics you’re using for making decisions. Is Your Business Surviving, Sustaining or Thriving? relates to the discipline of managing cash as it was described by panelists at Kellogg’s Annual Entrepreneur’s Conference. In this article, we also share some of the observations from the panel regarding frequent communication with banks, when the news is positive and especially when it is not.

David Spitulnik participated in a panel discussion at the Family Business Alliance, which included the topic of advisory boards. The discussion centered on the value and goals of these boards, as well as how they complement other peer groups for providing leaders with advice and support. The conclusion? Business leaders can benefit from both peer groups and advisory boards as long as the leaders are held to agreed timelines. Go to The Value of Advisory Boards to read the abstract or listen to a recording of the entire panel discussion.

We also want to share with you a link to an article written by one of our partners, Patrick McNally. In The Pluses and Minuses of Selling Your Business in an Economic Downturn, Patrick provides some interesting insights into issues beyond price, including your industry, company and personal situation.

For those of you concerned about your present banking relationship, or who are considering new financing to fund upgraded operations, new offerings or acquisitions (which many advise as we are likely entering a slow, steady recovery) you can get the inside and outside scoop at the American Mold Builders Association webinar titled “What Are Banks Looking for in Today’s Economy?” Patrick McNally, from Blackman, and Michael Moran of American Chartered Bank will focus on what makes businesses “bankable” in the current economic climate. Blackman invitees (i.e., everyone reading this Strategy Insights e-mail) can attend for free. Register here for this webinar. Be sure to select the "By Blackman Kallick Invitation" box when you register.

With six weeks left before Labor Day, we hope that in spite of the economy and its challenges, you are able to take a few days to relax and enjoy your family and friends. We leave you with the following thought from Henry James.

“Summer afternoon–Summer afternoon … the two most beautiful words in the English language.”

BlackmanKallickStrategyInsights.com

Sincerely,

Barry S. Cain, former Managing Director, Strategic Services
David Spitulnik, former Director, Strategic Services
Suzanne Lane, Senior Manager, Strategic Services
 

This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.