The Bottom line in Family Businesses: Financial vs. Emotional Equity

By Tom Hubler, Executive Consultant The entrepreneurial spirit flourishes in today’s society. People want their own business – for the freedom, for higher earning potential; or because they have a great idea, because they are the next generation. And people who have their own business naturally bring along their families. Even family members who do not work in the business are still part of it […]

How to Plan a Productive Yet Renewing Business Succession Sabbatical

Business Owner Sabbatical Planning Template is a guide for Business Owners to plan an extended leave By Steve Coleman, Partner Looking to try something new to break old patterns and gain new motivation for change? As business owners and managers finalize their annual plans, they may be ready to test their capacity to step out of the driver’s seat by taking a sabbatical. Traditionally an […]

Structuring a Transaction for a Management Buyout

The owner of several manufacturers in the Twin Cities made the decision to start downsizing and chose one of his three companies to sell. Dean Bachelor of Platinum Group sits on the board of his largest company, a manufacturer of large processing equipment, and the owner asked Dean to facilitate the sale of his engineering/metal stamping business. Read how Platinum structured the transaction to sell […]

New Self-Assessment Tool Helps Owners Understand Barriers to Success

Platinum Group has added a new self-assessment tool to help business owners to evaluate barriers that may be blocking the health and success of their organizations in three essential areas: leadership, workplace culture and unresolved conflict. To build a stronger business, owners need to monitor the relationship dynamics within their companies and ask themselves questions that may feel uncomfortable but could be truly holding them […]

Conflict Management: How Much Should You Tell Your Spouse About the Business?

By Bill English, Partner, Platinum Group Business owners live with their businesses, 24 x 7 x 365. Their business is always in their thoughts – even if only in the back of their minds. At the end of a tough day, when they go home, they’ll often not want to re-live their day. Isn’t that time to re-focus and relax? But giving their spouse the […]

Keys to Generational Transition Discussed at Owner Transition Forum

July’s Owner Transition Forum, sponsored by Platinum Group, was a shining testament of how transition goals were aligned with family and personal values, according to Platinum Partner Steve Coleman. The monthly forum, via Zoom, featured father-son presenters, Mike and Matt Norman, updating the progress of their 2011 succession — the Dale Carnegie Training franchise in the Upper Midwest. Transition goals discussed included: keeping the company’s […]

Strategies for Getting Back to Business: Five Ways to Approach Collections During Difficult Times

By Faith Barnard, Executive Consultant Collection efforts are even more difficult than before COVID-19 struck. But with an adjusted approach and a little outside-the-box thinking, your success can earn customer loyalty and make a measurable impact on your own business. Here are five ideas to consider to increase your company’s cash flow: Keep in touch. Calling is always best. Your customers know your phone number […]