As the down economy continues, owners and managers feel frustrated in their attempts to maintain their business. Growth Opportunities Checklist for Improving Current Operations Download the Checklist
Author Archive: mlundborg
My business is losing money right now. What steps should I take to save my business?
Many business owners have been facing uncertain market conditions for the last year. 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 from ongoing losses are leading many owners to wonder if their businesses can be sustained.
When liabilities exceed assets, what alternatives to bankruptcy do we have?
In this down economy, many companies are unable to meet their obligations to their lenders and vendors. Click here to see our Liquidation Analysis Tool Download the Liquidation Analysis Tool
Opportunity Assessment Offers “Big Picture” Checkup on Business Health
How Platinum helps owners to restore, enhance or realize the value of their businesses Situation More than 7,000 executives go to Mayo Clinic each year for an annual, personalized checkup. And when companies want to stay healthy, they come to Platinum Group for an Opportunity Assessment. Top-line growth, improved cash flow and greater operating efficiency are common objectives of business owners searching for ways to […]
Conflict Resolution Services
When relationships are in jeopardy in a family owned or other small business, how does the owner work toward resolution? Conflicts may occur between family members, board members, leadership, key employees and during merger/acquisitions. Rather than tolerating them, consider transforming conflict into value. For more details, contact Bill English at 952-829-5700 or Bill.English@thePlatinumGrp.com Civil mediation services Dispute resolution services Conflict resolution training The Cost of […]
Passing on the torch without blowing up the family
Our succession process began without a formal plan. I eventually realized that the do-it-yourself approach had lost traction on both the business and family fronts. Was it too late to create a proactive succession plan? I often refer to myself as the “illegitimate” third generation of Ostbye & Anderson, the Minneapolis jewelry manufacturer founded by my wife’s family in 1920. My father-in law never liked […]
Is it Time for a Family Meeting?
What does a son, daughter, cousin or in-law think about the business owned by a family member? Platinum Partner Steve Coleman answers this question and more in the February/March issue of Upsize Minnesota. As Steve wrote, “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 […]
Tom Hubler Authors New Book on Family Business Success
An essential guide for owners and advisors alike
Platinum’s Tom Hubler has drawn from more than 35 years of his experience advising family businesses to author a new book called The Soul of Family Business: A practical guide to family business success and a loving family.
BizBridge™
National research shows only 30 percent of family biz transitions are successful. Success improves to 80 percent when there is communication and a business transition plan. Since every business owner’s transition is different, BizBridge™ is an easy-to-use toolset to proactively create a highly tailored, individualized blueprint for each business owner’s transition. It combines Platinum’s business transition advice and proprietary tools to establish a transition roadmap […]
Liquidation Analysis tool
Sometimes a company may find itself unable to meet its obligations to lenders and vendors. Download sample Liquidation Analysis Spreadsheet