Healing and Economic Transformation in North Minneapolis By Steve Coleman What was your silver lining from our recent pandemic storm? It’s no surprise as months passed, how many of us became eager to do something positive. Early in the pandemic, several Platinum partners and other business colleagues gathered in a generosity circle to explore how we could be more active doing good for our city […]
No business owner sets out to eventually send his or her company into bankruptcy. But over time it may seem inevitable. There are many ways Chapter 11 can still be avoided—and good reasons to pursue them. If unavoidable, there are important steps to take to ensure a filing doesn’t make matters even worse. Economic news of late makes this topic timelier now than during the […]
By Bob Stewart Everyone who has built or run a successful business wants that enterprise to last longer than their tenure—or even longer than their lifetime. But businesses require vision and leadership. What happens at the point in time where the person providing that vision and leadership steps away? Platinum consultants have advised hundreds of businesses as they have worked through this inevitability. Although we […]
By Bill English, Partner I always wanted to be a pro on the PGA tour. But the day came in my life, earlier rather than later, when I realized that I simply didn’t have the physical capabilities to do what the pros can do. I couldn’t hit the ball much farther than 230 yards, and in this day and age, I think 300 yards is […]
By Bob Stewart I’ve been thinking a lot about my own mortality lately. That’s probably because a number of people close to me have died. We so easily forget that the circle of life on this planet far too soon will no longer include us. Tempus fugit. In the context of advising business owners, this realization reinforces for me the importance of planning ahead. Prepare […]
By Ron Leaf, Partner This may seem like a simple question but too often when we assess companies, we find there is a lack of understanding of, and/or attention to, the key drivers of the business. The owner or CEO has done many things very well but cannot explain a clear business model and how past results are used to enhance current activities and future […]
By Bill English, Partner Most entrepreneurs have several characteristics. Among the more prominent is a level of confidence – some would say arrogance – that enables them to believe they can beat the odds when taking a risk to win. Most of them are pretty good at what they do: They are competent at a trade, skill, craft, or they have a novel idea that can be […]
By Steve Coleman, Partner We are entering a new season, a break from our challenging pandemic years… but not so fast: Now there is the omicron variant, and the growing realization that there may continue to be additional variations of COVID coming at us in the years to come. In the face of non-negotiable realities such as this, I offer up four commitments that are […]
By Pat Brennan, Partner How is your cash flow doing this week compared with what you expected two weeks ago? If you don’t know, you’re driving in the dark without headlights. It’s surprising to us how many times we work with business owners who know their budgeted versus actual profit and loss statements extremely well but only look at cash flow on an annual or […]
By Steve Coleman, Partner As Americans change during this pandemic, being a pet owner has moved into first place ahead of having children. Why is this happening? Maybe it’s addressing an unmet need for close relationships. Maybe it’s human desire for giving and receiving love. Maybe it’s a great way to meet new people. We got a new puppy last August, and now we can […]