What To Do When You Can’t Find What’s Draining Away Your Profits
Bob was running a successful Petro company with several divisions spread across Georgia, when he encountered a problem threatening to drain all of his cash.
He’d known about Meridian for a long time, but only reached out after having a devilishly hard time pinpointing the exact issue in his books.
“…then bam, we were bleeding and leaking oil, almost overnight. We couldn’t figure out where we were bleeding. I called Betsi…After looking into the numbers she said, “Your trucking company is killing you. You need to sell it.” I said fine and she found us a buyer. If we had stayed the course, we would have run off a cliff into the abyss.”
Bob had spent a ton of time and energy searching for answers, so it was a relief to have Meridian give a simple and straightforward analysis of his numbers and offer a solution.
“…(Betsi) was able to identify the problem very quickly, lay out two or three solutions and very assertively say, Bob, this is what I think you need to do. She’s very good at that.”
In Bob’s case, he got a little more than he expected, when the deal to sell his trucking company looked like it might fall through at the last minute.
“As we got close to closing the buyer got cold feet and the night before closing they wanted to postpone the closing. So I called Besti at 8pm. I’m in Athens, Georgia. She’s in Texas. The buyer is in Ohio. So she caught a flight at 3:00am, and met me in Atlanta at 5 or 6am, and we were in Ohio before 7:30am waiting on the owners and executives of this company. And we went in there and sat down and stared them down and said, ‘Are y’all going to honor your word?’ And they did. So I owe her my life. I’m indebted to her forever.”
Today Bob is running a profitable and growing Petro business, and the memory of that potentially disastrous issue is just that…a memory.
He recommends Meridian for expert valuations and market connections, but the willingness to see things through he found in Betsi Bixby and the Meridian team are what he values most.
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