Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
After three years Robyne Robinson, better known as a Fox 9 news anchor, has closed Flatland Gallery in northeast Minneapolis.
It was a difficult decision, she says, but it was the right one. “It was just really looking at the business environment critically and making a decision,” she says.
“While I was still doing well, it had still slowed down a little bit and I didn’t want to get into a position where I was forced to close. The lease was up, I was tired, and the economy had everything to do with it,” Robinson says.
Although the gallery space is closed, Robinson is still working in a consulting capacity for other business owners who want to pick her brain on marketing and public relations issues. In addition, she continues to represent a few artists that she established relationships with through the gallery.
And she’s not ruling out re-opening a gallery some time in the future.
“If I feel that the climate is right and I want to do it again, I will.”
Over three years, Robinson says she has learned what it takes to be a business owner, including how to know when it’s time to close.
“You’ve really got to look at all your finances very, very closely,” says Robinson. “You’ve got to look at what your competitors are doing, what your colleagues are doing, and incorporate that into your decision.”
Robinson also realized that in a tough economy, art is considered a luxury and a purchase that can be deferred. She recommends that other business owners think about whether their goods or services might be considered a luxury by their clients.
“If you’re not doing well, I’d tell people to really reconsider who your market is and if your market is one that shuts down because of this economy. You’ve got to figure out what’s going to draw them back.”
Robyne Robinson, Flatland Gallery: 612.378.3890; www.flatland-gallery.com
