Operating Profitably in Uncertain Times

“My business is losing money right now. What steps can I take to save my business?” According to Platinum Partner Pat Brennan, many business owners are facing uncertain market conditions. Their customer buying patterns have been disrupted by the uncertainty facing all of us today. Unprofitable operations, a decline in the collateral value of assets used to support bank loans and erosion of working capital […]

How Are Other Owners Thinking About Succession?

Platinum Group has helped more than 500 owners through business succession. In fact, Platinum Partner Steve Coleman has co-written a book about the uniqueness of every owner’s transition called “What’s NEXT for You: Business Owners Share Their Transition Stories.” The book is a collection of personal experiences, tips, best practices, and lessons learned for owners thinking about selling or passing on businesses to the next […]

Family Councils: Is it time for a family meeting? Yes, for most firms

What does a son, daughter, cousin or in-law think about the business owned by a family member? As Platinum Group’s Steve Coleman writes, “Whether or not they are involved daily in that business, a family business does affect the entire family. Yet many business owners of privately held companies do not usually consider the thoughts of other family members — until it’s too late. That’s […]

Transition Guide at a Glance: A Five-Year Framework

Looking for a logical, flexible sequence to track the progress of your company’s transition? Consider a transition framework based on Platinum Group’s years of experience in guiding business owners. Then, join our Owner Transition Forum to gain fresh perspectives from other business owners’ experiences. These monthly breakfast roundtables offer insights and open dialog around real owner stories in a confidential setting. Contact Steve Coleman at […]

Marketing and Sales Strategist Joins Platinum Group to Advise Business Owners

MINNETONKA, Minn. — February 11, 2020 — Platinum Group, a management consulting firm that advises business owners, private equity funds and family offices, announces that Laurie Knutson has joined the firm as an Executive Consultant. Most recently, she was President at Ōmcare, a health technology company pioneering products that enable remote care in the home. Knutson brings 25 years of interim leadership and business strategy […]

How to Spot Trouble Ahead of Time

The New Year is a good time to take a fresh look at your company’s income statement. When business owners look at their monthly profit-and-loss statements, they may only be seeing the tip of the iceberg. It’s what looms underneath — that may cause enough damage to sink the ship — six or nine months down the road. Spotting trouble ahead of time takes more […]

What It Means to Marry Into a Family Business

When a family business negatively impacts a courtship, strongly consider how it could destroy a marriage relationship by reading a recent blog post by Platinum’s Bill English, “I Can’t Marry Into This.” Bill says, “This story is a compilation of three different calls I received last year that were remarkably similar. All three found me via this web site and called me for advice: two […]