Betsi Bixby became one of the most in-demand petroleum business consultants quite by chance. After getting her MBA in finance and analyzing hundreds of businesses as a loan office and bank vice president, a petroleum marketer walked into her office in need of a loan.
She vividly remembers listening to him describe his growth and needs, and she didn’t have a clue what he was talking about. But she kept nodding her head like she understood every word.
Finally, toward the end of his request, he told her the best thing about his future site was that it was less than a mile from the “rack,” and she was finally forced to admit her ignorance. What she envisioned was certainly not a big fuel terminal where he would pick up his product!
Our main purpose is to bless family-owned companies.
A week after she closed his loan, he asked her for a dinner date. She agreed, and as the budding relationship developed, she learned just how ignorant she was about petroleum, and he learned how much he didn’t know about cash flow. (Oh yes, in case you’re worried about her ethics, she passed his account off to another loan officer.)
As it turned out, his business was growing like a weed. It was very profitable, but cash poor — borrowing more and more. Each month, he would show her his financial statements, looking for compliments on his profits, only to hear her complaints about his lack of cash. Then, after about six months diligently working on his cash flow, the picture dramatically changed: he began paying down debt and had money in the bank. Life was good.
At about that same time, he became president of an industry trade association and decided to hold a seminar for his fellow marketers on cash flow. At that time (early 1991), bankers were disenchanted with the petroleum industry, and reasonably priced bank debt was tough to get and keep. Betsi presented her “Banker’s Method of Cash Flow” talk to a group of about 125 petroleum marketers who had annual sales between $2 million and $500 million and cash flow that ranged from tight to severely tight. In her closing remarks, she invited them to call her if they needed help with cash flow or financing. That was a Saturday.
Monday morning, her phone at the bank began ringing, and the seeds for Meridian Associates, Inc. started to sprout. Since that first seminar, she’s lost count of the actual number of petroleum distribution marketers she’s been blessed to help, but it’s well over 3,500.
Today, Betsi and Meridian Associates, Inc., provide invaluable advice and consulting to family-owned petroleum-based businesses, helping them grow and expand their market share.
Betsi co-authored her first book, “The Soul of Success, Vol 2” with Jack Canfield and recently released her second book, “7 Quick Cash Fixes”.
Hollywood Live with Jack Canfield
Author Jack Canfield talks with Betsi about the foundations of her company and how she helps other family businesses achieve wild success by managing cash flow.
Meridian Associates is a team of dedicated professional petro consultants with extensive experience providing valuable industry knowledge and advice to petroleum-based businesses, helping them grow and expand their market share through coaching, education, valuations, advisory services and more.
We prioritize: God, family, work.
We listen and openly communicate.
We emotionally invest in our clients.
We serve with absolute integrity.
We value learning, collaboration and excellence.
We simplify the complex.
We face challenges with passionate optimism.
We inspire action that creates results.