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North Atlantic Business Advisors 

3-Minutes of Inspiration and Achievement

June Edition

This newsletter is for you - discover useful advice and insight, gain access to powerful client success stories, and keep up with how North Atlantic is staying involved and active in the local community.

Contact us today for a complimentary, no obligation,
valuation of your company. 
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Insight and Wisdom with North Atlantic
The second in a series:
An Untold Story:
Bright Spots of the Northeast

 
What does the Northeast (e.g. Connecticut and Massachusetts) have in common with the rest of the United States? Too often we hear only the negative stories: the ever-spreading opioid crisis, impending labor shortages, and so much more. While this area has faced a wide range of financial challenges, coupled with impactful demographic and social changes, the Northeast region is nonetheless flourishing. Let's take Connecticut, for example:

Connecticut has many strengths that most don't see, or hear about on the nightly news. Historically, the lifeblood of Connecticut has been its collection of small-to-medium sized businesses, who employ roughly 49% of the state's total workforce. Additionally, Connecticut ranks number one for employment of finance and insurance professionals in the United States. The power of the Connecticut workforce can be seen in its unemployment rate  - which is currently at 4.5%, relatively close in comparison to the national rate of 3.8%. Both of these figures are provided by the U.S Bureau of Labor Statistics - and they are both trending in the right direction.


Connecticut places number five in the nation in regards to innovation - an overlooked statistic in the state. In addition, Connecticut ranks first in the nation for having the highest concentration of aerospace manufacturers. The combination of these statistics show that Connecticut needs leaders who can make tough decisions, through utilizing the strengths and demographics of the state, to ensure it will always develop and grow. Small and mid-size businesses have historically been, and still are, the core of the Connecticut economy, and these may need to be considered to be the primary focus in the future. 

At first glance, it may be easy to write a negative piece highlighting the shortcomings of any Northeastern state, including Connecticut. What takes fortitude and resolve, however, is the effort to highlight the many positive and promising takeaways from both the Connecticut, and Northeastern United States economy.
 
Tune in next month as we continue this series!
"Name Your Price" Business Listing Package
Deciding to sell your business is often a process that takes years to achieve - but at the end of the day, it can be said that every business is for sale, at a certain price. Many business owners think that their exit is many years away. While they're strategically growing their businesses, they may plan for an exit in an uncertain future. Invariably, many years may pass, without some catalyst to trigger a business sale. A possible solution?

Consider exploring this concept further with our team - and learn more about our no obligation, "Name Your Price" package. This utilizes our professional network of extensive buyer pools to identify if there is an opportunity for your business to receive an exceptional financial offer that you never thought was possible. 

Even if you are not looking to sell your business today, you may be willing to sell if the price was attractive enough. Isn't this right? Start a conversation with us today - a short phone consultation is completely free of charge, and has the potential to lead to an attractive and opportunistic sale. 

Explore this package further - click here!
The True Value of Your Employees
Each and every employee of an organization is truly vital to the well-being and success of the company. Without employees, how could your business function? Therefore, ensuring the satisfaction of your workers is one powerful way to boost profits and values within an organization.

Our blog article explores three unique ways in which you can ensure employees are completely satisfied and positively contributing to your company: a comprehensive hiring process, positive work environment, and great pay/benefits.  

Click here to further explore North Atlantic's insightful blog article. 

Leaders Leaving a Legacy

"As we look ahead into the next century, leaders will be those who empower others." - Bill Gates
Bill Gates is a business visionary who established himself as a trailblazer in the field of technology and personal computers, all through the founding of Microsoft on April 4, 1975. Initially enrolled as a Harvard pre-law student in 1973, Gates dropped out to pursue what had always been his true passion - technology, and the methods behind the relatively new science of computer programming. Gates close associate, Paul Allen, soon moved to Boston and encouraged Gates to drop out, in order to pursue their passion together full-time. Unsure of what path to take in life, Gates soon made the decision to drop out - and just two years later, Microsoft was born. Gates used his technological expertise and vision for the future to create one of the first and most comprehensive operating systems for home computers - finding massive success in his work. Fast forward to today -  Microsoft has grown to be one of the biggest technology companies in the world, a pioneer in the field of personal computers and a wide range of software. Gates non-traditional path in his business and his life shows us that a powerful vision, coupled with strong execution and a true belief in the idea, can go a very long way. 
 Business Success Stories
Western Industrial Solutions
Chris Mitra, Grant Schaeffer, and Mike Waithe, founders of Western Industrial Solutions, started the company in early 2012 - after government layoffs claimed their careers. As industry professionals with a combined 60+ years of experience, together they recognized that it was time to create and control their own destiny, by using the expertise they had gained through many years of working in the manufacturing industry. One of the biggest issues they recognized in their industry was the level of manpower and time that safety documents and regulations took away from any company - draining valuable resources in the process. As a result, they created "TaskSafe" - a hardware/software product that assists in the management of front-end safety documents, streamlining the entire process. The initial results proved to be a massive success - and this product soon spread throughout North America, saving a variety of companies both time and money. The persistence and foresight of these three entrepreneurs showcases that a persistent attitude, coupled with the ability to recognize a real problem and craft a solution, can yield great success!

Explore this link to learn more about Western Industrial Solutions
Here at North Atlantic we provide a number of targeted services - business consulting, valuation, exit planning, and brokerage, all personalized to our client's unique needs.

Learn more about what North Atlantic can do for you -  simply contact us for a free, no obligation consultation. 

For inquires, questions, and comments, please contact our West Hartford, CT, office at 860-521-4000, or send us an email at info@northatlanticba.com. Interact with us on social media - North Atlantic Business Advisors is on LinkedIn, Facebook, Twitter, Instagram, and Google Plus!

Produced and Distributed by Matthew Salerni of North Atlantic Business Advisors LLC
Copyright © 2018 North Atlantic Business Advisors, All rights reserved.


Our mailing address is:
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Phone Number:
 860-521-4000
Website:
https://www.northatlanticba.com

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Sources and References
https://www.biography.com/people/bill-gates-9307520
https://smallbusinessbc.ca/success-story/meet-christopher-mitra-grant-schaeffer-and-mike-waithe-western-industrial-solutions/

 






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North Atlantic Business Advisors · 61 South Main Street, Suite 210 · West Hartford, CT 06107 · USA

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