Asset Management & Recovery: February 2009

In my last post, Grow, Merge, Sell or ? I was trying to decide which way to take our subsidiary Gryphon Realty Advisors.

Since then, we have met with numerous buyers of the business as well as numerous joint venture partners.  We met with managers.  We interviewed potential new staff members.

In the asset management and liquidation business, decisions need to be made quickly.  Over the 12 years I have spent in this industry I have learned that the biggest mistake I can make in business is to over think or second guess a decision.   

So, in the end, the answer to the question is GROW.  Ladies and gentlemen, we just jumped off the cliff into the deep water without a floatation device.  No turning back.   

In the very near future you will see modifications to our website at www.gryphonusa.com.  Marketing materials that are already in the re-design and printing process will be in the mail.  A year long pre-defined email campaign will be rolled out.  Meetings with our targeted clients have been scheduled.

We engaged additional superstar project managers for Gryphon Asset Management.  We are grabbing the bull by the horns and are brining in commercial real estate big hitters to Gryphon Realty Advisors - Commercial Division.  We are seeking more aggressive residential agents for Gryphon Realty Advisors - Residential Division.  We are bringing in seasoned auction staff and cross training current staff members to participate in Gryphon Auction Group by sending them to the best auction academies and appraisal schools available. 

I want to thank all of the people who shared their thoughts with me as I contemplated this very important decision.