Passing on the torch without blowing up the family

Our succession process began without a formal plan. I eventually realized that the do-it-yourself approach had lost traction on both the business and family fronts. Was it too late to create a proactive succession plan? I often refer to myself as the “illegitimate” third generation of Ostbye & Anderson, the Minneapolis jewelry manufacturer founded by my wife’s family in 1920. My father-in law never liked […]

Is it Time for a Family Meeting?

What does a son, daughter, cousin or in-law think about the business owned by a family member? Platinum Partner Steve Coleman answers this question and more in the February/March issue of Upsize Minnesota. As Steve wrote, “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 […]

Running on Empty

Enhanced forecasting can help firms take action before exhausting their cash

Ever feel on the brink of cash flow exhaustion? You know the signs: an abrupt change in the marketplace, a failed ownership transition, mismanagement or simply the failure to make your sales forecast from month to month. The result is the same in each case: running out of cash.

Tom Hubler Authors New Book on Family Business Success

Platinum’s Tom Hubler has drawn from more than 35 years of his experience advising family businesses to author a new book called “The Soul of Family Business:  A practical guide to family business success and a loving family.” Packed with family best practices and practical tips from managing conflict to succession planning, “The Soul of the Family Business” is an essential guide for family business […]