No matter what you call them running a business will present you with all sorts of problems that need to be solved. At Ataraxis Partners LLC we prefer to frame them as opportunities. Every problem that presents itself while running your business is an opportunity to leverage past the problem and move to the next level. I know its sounds cliche, but it is true. Ataraxis Partners LLC, has years of experience solving business problems using its perspective as an outsider combined with the owner's specific goals.
In many instances business owners are focused on running the day to day business and rarely look up until there is significant amount of friction or something breaks. The running of the business is time consuming and necessary. A third party in your corner providing some strategic advice can save you time, money and help you achieve your goals faster. A good example is to think of Ataraxis Partners LLC like a corner-man in boxing . You, the business owner, are the fighter, focused on the fight. Every member of your corner team all has a role to play. It can be really hard to patch the cut above your eye while trying to catch your breath, analyzing the fight and then be ready to head back out when the bell rings.
Here are some real life examples of advice we have provided:
Example #1:
Client #1 ran a large multi-state specialized transportation business. Client #1 exclusively used a specific type of truck in his business and had built out detailed financial models based on their specific use case. As his business continued to grow he ran headlong into the automobile manufacturer's internal credit caps. After several conversations and nearly a month of delays the manufacturer would not budge. Client was contemplating switching to an alternative truck manufacturer, but it would be at significant cost to retro fit for their use case and cause significant additional delays. At which time, he consulted with one of our principals. The solution that we cobbled together for Client #1 was simple yet extrodinarliy effective:
Approach from a position of strength - Client had been brand loyal for over a decade and was currently running several dozen manufacturers trucks on the road daily. Clients position was much stronger than he anticipated.
Reframe your ask - Client had been asking the manufacturer to extend his credit line for weeks to no avail. Client had an excellent payment history and a diversified revenue base, so there was no significant additional risk in extending additional credit. One of our principals was able to craft an elegant yet very simple solution for the Client by asking the right question and approaching the manufacturer from a position of strength. Asking for additional credit was the wrong question. At the time, Client was one of the largest creditors of the manufacturer. The correct question to ask was, "You "Am going to continue to use your trucks or am I going to use competitors comparable model?" The recommendation to Client also suggested that he rent or borrow one of the competitor's comparable models and park somewhere visible. The manufacturer quickly relented and significantly raised the credit line.
Example #2;
Client #2 owns a large landscaping business. He had two consistent seemingly unrelated problems; 1) more work than he is able to handle and 2) chronic issues keeping labor. Owner was extremely busy ensuring current clients were being serviced and dealing with labor turn over. Owner consulted with out principle about his issues. Ataraxis Partners LLC laid out a simple two step solution. Our solution explained that if a business has more work than it can handle that is a great problem to have, it also probably means you are not charging enough for your goods or services. We suggested the owner strategically select new clients and test out significantly raising his rates. After analyzing his labor issue the problem was two fold, low wages and seasonality. The rate increases were able to support increases in his laborers wages to draw additional talent and retain labor. We are still working on the seasonality issue......but we have not solved northeastern winters yet. All joking aside, this was a fairly quick remedy to an issue that was a major hassle for this owner.
Those are just two examples of how a different perspective can quickly flip a problem into an opportunity. Ataraxis Partners LLC is here as a resource to help turn every obstacle your business faces into an opportunity to move to the next level.