How do I prepare for business transition?

That’s a common question asked at our monthly Owner Transition Forum since 2008. After all, the future of your company is at stake. What’s next for you is equally important. Without a vision, there is no satisfying future.

As transition consultants to privately held and family owned businesses for more than three decades, Platinum Group mentors owners through the business transition process—and beyond. We are excited to work with you to achieve your vision and satisfying future. To create a successful business succession, we will work closely with you and your company’s trusted advisors, including bankers, lawyers, accountants and financial consultants.

What’s more, a business transaction may be a part of a business owner’s next steps. Whether you want to acquire or sell a business, Platinum offers the financial savvy, technical strength and resources to help structure and facilitate a business transaction. Understanding and knowing how to best leverage your side of the equation can make all the difference in realizing the value you have worked so hard for over the years. Platinum offers seasoned experience, backed by testimonials of trust and credibility, that results in realizing that value.

Our transition consultants will help create a proactive succession plan to envision the “change of seasons” for your business and personal goals.

Exit Strategy Examples

Our experience shows it typically takes two to five years to develop and start implementing a sound transition plan. For example:

  • We helped one business owner get positioned for a strategic buyer by solving his struggle with unprofitable operations, eroding revenue base and need to refinance. One year after we installed a new lender, we negotiated letters of intent from prospective buyers. This owner is now enjoying a fulfilling retirement.
  • Another owner was ready to retire but a prospective buyer wanted him to stay and run the business. We helped him to increase business value through an acquisition that created leadership for the future. We integrated the merger and facilitated the sale to a private equity firm. Now, this owner consults on the side while spending more time with family.
  • The 60-year-old founder of a family owned business was uncertain about who would own and run the company, yet he was reluctant to let go. We facilitated a family communication process to create a five-year transition plan. The founder has a defined sale of business with a trailing stream of income, with family ownership continuing into the next generation.

Read more case studies to learn about unique business transition challenges and customized transition strategies.

business transition

Platinum Group’s transition consultants will guide you through business succession planning by building a roadmap for reaching your business and personal goals.

How do I prepare for business transition?

That’s a common question asked at our monthly Owner Transition Forum since 2008. After all, the future of your company is at stake. What’s next for you is equally important. Without a vision, there is no satisfying future.

As transition consultants to privately held and family owned businesses for more than three decades, Platinum Group mentors owners through the business transition process—and beyond. We are excited to work with you to achieve your vision and satisfying future. To create a successful business succession, we will work closely with you and your company’s trusted advisors, including bankers, lawyers, accountants and financial consultants.

Exit Strategy Examples

Our experience shows it typically takes two to five years to develop and start implementing a sound transition plan. For example:

  • We helped one business owner get positioned for a strategic buyer by solving his struggle with unprofitable operations, eroding revenue base and need to refinance. One year after we installed a new lender, we negotiated letters of intent from prospective buyers. This owner is now enjoying a fulfilling retirement.
  • Another owner was ready to retire but a prospective buyer wanted him to stay and run the business. We helped him to increase business value through an acquisition that created leadership for the future. We integrated the merger and facilitated the sale to a private equity firm. Now, this owner consults on the side while spending more time with family.
  • The 60-year-old founder of a family owned business was uncertain about who would own and run the company, yet he was reluctant to let go. We facilitated a family communication process to create a five-year transition plan. The founder has a defined sale of business with a trailing stream of income, with family ownership continuing into the next generation.

Read more case studies to learn about unique business transition challenges and customized transition strategies.

Get Ready for “What’s Next” —  Succession Planning Process

Are you uncertain about how to approach business succession planning?

Platinum Group can help you sort out exit strategies, such as buying/selling, merging, creating an ESOP, transitioning to a family member or employee, and moving from day-to-day management to ownership. We offer the financial savvy, resources, negotiation skills and business transition experience to help small business owners to determine “what’s next” for them — professionally and personally.

Create a Vision — Business Transition Perspectives

Transition Stories Book Image

How are other owners thinking about business succession?

Join our Owner Transition Forum to gain fresh perspectives from other owners’ experiences. These monthly breakfast roundtables offer insights and open dialog around real business transition stories in a confidential setting.

Platinum Group has helped more than 500 owners through business succession. In fact, we’ve written a book about the uniqueness of every owner’s transition called “What’s NEXT for You: Business Owners Share Their Transition Stories.”

Business Transition Services

  • Should You Buy, Sell, or Merge
  • Preparing for Ownership Transfer
  • Facilitating the Sale Process
  • Negotiations with Buyers

Tools for Business Transition

BizBridge™

Platinum Group’s proprietary tool helps owners establish a transition roadmap and serves as a catalyst to begin the business transition process. MORE

Business Owner Transition Guide

A five-step process based on our experiences with owners going through transition, including understanding generational differences and impacts. Trusted advisors can use this business transition process worksheet to track progress. MORE

Business Owner Sabbatical Planning Template

A guide for business owners to plan for an extended leave to test the readiness of their management teams before succession. MORE

5-Year Transition Guide

Trusted advisors can use this business transition process worksheet to track progress. MORE

Business Owner Transition Guide

A five-step process based on our experiences with owners going through transition, including understanding generational differences and impacts. MORE

Your First Step

For a no-obligation consultation about your transition question, contact:
Steve Coleman

Steve.Coleman@thePlatinumGrp.com
612-270-4327

“I enjoy helping owners explore a destination for transition into a next stage of life, and then map out a pathway there. So many of them want to step down, but not stop making a contribution. Catalyzing that change is the most satisfying part of this work for me.”

Bob Stewart

Bob.Stewart@thePlatinumGrp.com
952-259-3237

“I enjoy working with business owners to identify and achieve their goals for themselves and their businesses based on my unique perspective as an attorney, CPA and entrepreneurial background.”

Dean Bachelor

Dean.Bachelor@thePlatinumGrp.com
952-259-3218

“Our mission — ‘Meaningful Capitalism’ — provides the impetus for us to seek ways to bring meaning and value to every relationship, every client and every situation.”

Ron Leaf

Ron.Leaf@thePlatinumGrp.com
952-237-1932

“I enjoy helping business owners find solutions to their financial and capital challenges. Combining my broad investment and advisory experience with a process of research and analysis, I develop creative solutions that enable business growth.”

Pat Brennan

Pat.Brennan@thePlatinumGrp.com
952-259-3232

“I’m the first call you should make with business issues keeping you awake at night. We’ll work together to navigate through negative financial performance and chart a way back to positive cash flow and profitability.”

Your First Step

For a no-obligation consultation about your transition question, contact:
Dean Bachelor

Dean.Bachelor@thePlatinumGrp.com
952-259-3218

“Our mission — ‘Meaningful Capitalism’ — provides the impetus for us to seek ways to bring meaning and value to every relationship, every client and every situation.”

Pat Brennan

Pat.Brennan@thePlatinumGrp.com
952-259-3232

“I’m the first call you should make with business issues keeping you awake at night. We’ll work together to navigate through negative financial performance and chart a way back to positive cash flow and profitability.”

Steve Coleman

Steve.Coleman@thePlatinumGrp.com
612-270-4327

“I enjoy helping owners explore a destination for transition into a next stage of life, and then map out a pathway there. So many of them want to step down, but not stop making a contribution. Catalyzing that change is the most satisfying part of this work for me.”

Ron Leaf

Ron.Leaf@thePlatinumGrp.com
952-237-1932

“I enjoy helping business owners find solutions to their financial and capital challenges. Combining my broad investment and advisory experience with a process of research and analysis, I develop creative solutions that enable business growth.”

Bob Stewart

Bob.Stewart@thePlatinumGrp.com
952-259-3237

“I enjoy working with business owners to identify and achieve their goals for themselves and their businesses based on my unique perspective as an attorney, CPA and entrepreneurial background.”

Your First Step

For a no-obligation consultation about your transition question, contact:
Steve Coleman

Steve.Coleman@thePlatinumGrp.com
612-270-4327

“I enjoy helping owners explore a destination for transition into a next stage of life, and then map out a pathway there. So many of them want to step down, but not stop making a contribution. Catalyzing that change is the most satisfying part of this work for me.”

Bob Stewart

Bob.Stewart@thePlatinumGrp.com
952-259-3237

“I enjoy working with business owners to identify and achieve their goals for themselves and their businesses based on my unique perspective as an attorney, CPA and entrepreneurial background.”

Business Transition Services

  

Getting Started

  • Understanding the transition process
  • Preparation for a transition in ownership

M&A/Transaction Advisory

  • Should You Buy, Sell, or Merge
  • Facilitating the Sale Process
  • Sell-Side Advisory
  • Buy-Side Advisory
  • Negotiations with Buyers
  • Banking Negotiations
  • Debt Placement/Structuring of Debt