Success Stories

The following are success stories from actual TAB members, demonstrating how membership with The Alternative Board^® has benefited their companies and their lives.

SAVED MORE THAN $20,000

One member informed the board that he was constructing a new plant and was borrowing $700,000.

His problem: The bank was requiring 25% down and was offering a floating rate rather than a fixed rate.

Another TAB member told him about a Small Business Administration 504 program. Under the program, the federal government had lent him 40% of the total amount needed at a low fixed rate, and subordinated the entire debt to the bank loan. In addition, a local government organization contributed 10% to help with jobs in the community. He told the presenting member his contact's name and how to go about the whole process. As a result, that member did all his financing—with no money down. In addition, the total annual interest under the government program is saving him more than $20,000 per year.

ELIMINATED SUPPLY PROBLEM

Another member had been using a resource in East Germany for many years. After German unification, the company consolidated with a former West German company and he was unable to continue the relationship. A fellow TAB member told him about a relative who had contacts in South America. As a result of this information, the presenting member solved a major low-cost quality supply problem.

RESOLVED PARTNERSHIP PROBLEM

The brother of a TAB member owned 50% of the company and was causing many problems. Since neither brother had control, important decisions were delayed, which was greatly harming the business. The board recommended a third party to arbitrate problems they couldn't resolve, allowing the company to move forward.

INVENTORY PROBLEM RECTIFIED

A TAB member reported he was losing inventory but couldn't figure out how it was taking place. Another member had a similar experience and solved it through the use of a software tracking system. He gave the other member access to his entire custom computer software tracking system, without charge. As a result, the presenting member identified the exact areas, place and people ultimately responsible for the problem and now has a more efficient manufacturing process.

HIRING CRITERIA DEVELOPED

A TAB member who runs a business with high personnel turnover was advised to do a personality test on long-term employees and then use it as criteria for hiring. He now screens prospective employees with this test, which has dramatically reduced his turnover rate.