By Dale Kurschner, Executive Consultant We soon end the strangest year most of us have experienced, one in which uncertainty as individuals, families, organizations, communities, states and a nation reached its highest point since World War II. Some did well, some remain in limbo, some were severely affected. We all face continued uncertainty for at least the next six months, after which it is hoped […]
A key cash flow impact item for manufacturers under stress is inventory control. Supply chains may be significantly stressed or disrupted, and production volume level forecasts will need scenario assessments in the COVID-19 environment to drive effective inventory planning and management. The impact of inventory management on cash flow is crucial, but it is often difficult to maintain the macro and micro levels of visibility […]
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. […]
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 […]
“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 […]
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 […]
How Platinum helped to manage the last Challenge of Entrepreneurship
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 […]
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 […]
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 […]