Family Meetings: Balance the Boundary Between Business and Family

By Tom Hubler, Executive Consultant This article is Part 3 of a continuing series about the delicate issues among family businesses. Part 1 discussed financial vs. emotional equity and this article deals with trust and gratitude, which are necessary for emotional equity. Part 2 described family business challenges relating to trust and gratitude. Family meetings are essential Family meetings are intended to balance the boundary […]

Responding to Unforeseen Business Challenges: Blizzard, Winter, Ice Age

By Steve Coleman, Partner Two months into this pandemic shutdown, I was included in a Zoom offering new perspectives on how to make our way through challenges not seen in our lifetime. Evercore Wealth Management invited clients and family business advisors across the country to participate in a webinar that turned out to be disturbing, then challenging, then encouraging in ways to address this uninvited […]

Economic Conditions Are Improving, At Least for Now

By Dale Kurschner, Executive Consultant U.S. commercial Chapter 11 bankruptcy filings through September outpaced the number filed in all of 2019. And the 747 filings made that month represented a 77 percent increase from the same period a year earlier, according to AACER court data. Yet Minnesota’s economy appears to be rebounding quite well from the depths of the Covid-19 recession earlier this year, based […]

Family Business Challenges: Trust and Gratitude

By Tom Hubler, Executive Consultant This article is Part 2 of a continuing series about the delicate issues among family businesses. Part 1 discussed financial vs. emotional equity and this article deals with trust and gratitude, which are necessary for emotional equity. Trust Builds Emotional Equity When family members do not trust each other, everything suffers. Trust does not come automatically in a family. It […]

3 CEOs Share How They’re Leading During the Pandemic

By Dale Kurschner, Platinum Group Minnesota CEOs have had to rapidly adjust to new ways of operating their businesses, including leading employees and serving clients during one of the most intensely uncertain times in U.S. history. In May, “One Take CEO Interviews” was launched to discuss (via Zoom) how they were dealing with the Pandemic and planning for the future. Since then 14 episodes have […]

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 […]

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 […]

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 […]

Strategies for Getting Back to Business: Effective Leaders Learn How to Pivot Daily

By Randy Kroll, Partner Leadership is critical during this COVID-19 inflection point. Decisions must be made quickly. Communications must happen in rapid pace. Information must be filtered hourly. Here are three critical actions that Platinum Group suggests to help guide business and organizational leaders in these times: Be Strategic — We know from past experiences that inflection points in life and business create stress, but […]

Strategies for Getting Back to Work

By Greg Backlund, Executive Consultant, Operations Improvement An interesting way to consider business issues is to compare the economy to living ecosystems. Millions of years of survival testing provides a lot of success and failure examples! The current Covid disruption is likely to be a major ’extinction event’ for many businesses – unfortunately, probably, many businesses will go bankrupt or have to drastically restructure. In […]