October 2016
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The Silver Fox Advisor
Advising, Consulting And Mentoring Greater Houston Area Business Since 1986
From the Editor...

Richard Hendee

In my 45 years of being in the financial services business most of my career was spent loaning the Bank's money to business owners. Loaning money is kind of an art in that a lender is accessing historical information and data, analyzing a set of financial projections, then looking essentially into a crystal ball for future trends and market conditions. Armed with all this material the lender makes a decision.
One of the questions that I hated to hear from a customer or potential client was,
"How much can I borrow?" That question told me more about the business owner's situation than all the facts and figures I could ever gather about the loan request. When confronted with that type of application, I rarely spent much time on it because it typically led to a declined loan request. Why, because it told me a lot about the borrower:
Leading Vs. Cash Purchasing Vehicles And Equipment

By Jay Marks, a Silver Fox Advisor
Leasing vehicles and equipment has several advantages for commercial businesses versus paying with cash.
  • Ease of acquisition
  • Preserve Line of Credit
  • Opportunity Cost
  • Purchasing Price
  • Replacement Cycle
  • Remarketing
Ease of Acquisition : Leasing vehicles solves the inevitable frustration and time consuming practice of finding the right vehicles. Glesby Marks specializes in finding vehicles that fit any business need.
Preserves Line of Credit : Leasing allows businesses to acquire needed vehicles and equipment immediately while preserving bank lines of credit for other business uses.
Opportunity Cost : When companies pay cash for a vehicle, they lose the opportunity to invest that money more productively back into their business.
Purchase Price : Glesby Marks has a multi-thousand vehicle fleet. Given our amount of leased assets, we are able to negotiate a lower acquisition cost with the dealer. We stay informed of incentives and rebates available through the Manufacturers and all savings are passed onto our clients.
Mediate First - Let's Try To Avoid Legal Fees
By Jeff Wheelock, a Silver Fox Advisor
"I'm willing to fight. It's the principle of the matter." Ah, music to an attorney's ears. But you're not in business to teach people lessons. You're in business to make money. And there are few bigger drains on business than protracted litigation.
So how can you avoid this scenario? The answer can be a Mandatory-Mediation provision in your contracts.
(By the way, I am writing this article at the risk of really angering my litigator-brethren. As a matter of background, I am an attorney. I've spent lots of time in courtrooms. I've also participated in arbitrations, representing both plaintiffs and defendants. I've even been an arbitrator for the NASD. I still litigate. But now I mostly work to keep my clients out of court in the first place.)
Mediation is basically an informal settlement meeting. In it, both sides to a dispute sit down with an unbiased third-party - the mediator - to try to settle a dispute.
Silver Fox Advisors
Silver Fox Advisors are current and former business owners, entrepreneurs and executives dedicated to assisting business owners to improve their enterprises through mentoring and consulting. Advisors have been sharing their knowledge, experience and skills since 1986. To work with a Sliver Fox Advisor, please visit our website at www.silverfox.org and select your advisor.
Upcoming Events

Lunch & Learn

Date:  Thursday, October 27, 2016

Time: 11:00 am - 1:15 pm


Topic: "Houston's Museum of Fine Arts"


Speakers: Gary Tinterow, Director, The Museum of Fine Art 


Location: The Houston Racquet Club
1079 Memorial Drive
Houston, TX 77024
This Month's Featured Book
by a Silver Fox Advisor

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