Thomas C. Goldblatt, CTP, managing partner, Ravinia Capital LLC (TMA Chicago/Midwest), has been a TMA member for nearly 15 years. We recently spoke to Tom about how TMA helped him launch a career in the turnaround field and the connections he has made with the TMA community.
“Earlier in my career I bought, sold and ran companies,” says Goldblatt. “However, my greatest accomplishments and joys had come from the success I had improving troubled companies, he adds. “So, in 2008, I decided to shift and focus my work on helping companies in trouble. While researching work opportunities related to turnaround, I came across the website for the Turnaround Management Association and noticed a picture of an old friend, Harold Israel. I reached out to Harold and starting learning about the many ways TMA could help me obtain turnaround work.”
Goldblatt soon realized that, with his track record and years of experience in working with companies in financial crisis, he was well on his way to meeting the requirements of the Certified Turnaround Professional (CTP) designation.
“The first official thing I did as a TMA member was sign up for the exam to earn the CTP,” says Goldblatt. “The next thing I did was attend the TMA Global spring conference following the CTP course and exam. I discovered that other attendees at the TMA conference were extremely helpful and intelligent. This has remained a constant my entire time with TMA,” adds Goldblatt.
“I not only found the knowledge I gained from taking the CTP exam useful, but I also found having taken and passed the exam significantly increased my credibility with potential deal sources.”
Goldblatt put his membership to work and began to quickly establish his professional network. “A few months after becoming a member, I made use of my membership by growing my network, making introductions, and reaching out to members from the directory. Soon after, I received my first project from Bob Handler of Commercial Recovery. Bob hired me to sell a magazine company out of Jackson Hole, Wyoming, in an Assignment for Benefit of Creditors auction. The auction was a great success; we ended up receiving 17 topping bids and ultimately increased the stalking horse price by 700%,” says Goldblatt. “That success led to more and more success as I found I had a real talent for sales of distressed companies and loved the dynamics and the chance to save companies, investors, vendors, and creditors from possible loss by delivering outstanding results,” he adds.
Goldblatt is now an active volunteer who works hard to give back to the profession.
“I’ve come a long way, but I still find I get the bulk of my leads from my TMA network. I also find this network to be a great source for me to find talent to work on projects and send referrals. I am grateful for what TMA has done for me and I always look for ways to pay back my fellow TMA members and help the organization,” says Goldblatt.
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