Business Advice News

Help for Owners in a COVID-19 Business Crisis

As companies grapple with the myriad of issues brought about by COVID-19, Platinum Group has the resources to help business owners prepare strategically, deal with cash crises, communicate with the bank or handle employee payroll and benefits issues.

“We have been involved in crisis management for the last four decades,” says Platinum Founder Dean Bachelor. “We have been through serious recessions in the 80s and 90s, the 2000 crash and the 2008-2009 real estate crash. We are experienced in helping clients find themselves to a better place.”

If you would like to discuss how to prepare and deal with this current economy, call us at 952-829-5700.

Business Transition Trends

Capital Alternatives to Best Support Your Company

Do you understand your biggest working capital need right now?

“Until you have a correct view of the potential impacts of the COVID-19 crisis on your company’s revenue, finding the right working capital for your situation can be difficult to navigate,” according to Rod Peterson, Platinum Partner.

In other words, simply knowing the sources of capital alternatives — government and private — is not enough. The internet is full of information — it’s making the best choice for your company that is complex but absolutely essential. And that decision is based on a critical revenue of your company’s cashflow to determine how to remain solvent during this critical time.

Call Platinum Group for help with assessing the financial impacts of COVID-19 on your business. Our team list is available online, where you will find direct cell phone numbers. Or call 952-829-5700 to be put in immediate contact with a team member.

Business Turnaround Article

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 from ongoing losses are leading many owners to wonder if their businesses can be sustained... MORE

Family Business Case Study

Family Business Owner Stays Engaged Via New Leadership Role

An entrepreneur who started his family business in a garage and grew it to $40 million decided to step down. He hired a nonfamily member to run the company and train his son who was not quite ready to take over the business. To ensure a smooth transition, the owner met monthly with his new president to review the company's performance. To be successful,
it was determined that the owner would not come into the office as much, but this proved to be a difficult step for him. Platinum’s Tom Hubler
was invited to help the owner manage the last Challenge of Entrepreneurship... MORE

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