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 […]
Tag Archives: Meaningful Capitalism
Planning for the Inevitable
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 […]
The Best Time to Plan is When Things are Calm
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 […]
How Quickly Can You Explain the Economic Model of Your Business, and What Drives its Success?
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 […]
Tapping the Hidden Value of Work in Progress
By Dean Bachelor, Founder and Chairman It was the year 2010. The Great Recession of 2008–2009 had created an opportunity for Platinum Group to help banks deal with their troubled credits (loans). Years ago, we formed Platinum Receiver Services to facilitate receiverships capable of addressing the disposition of assets that banks require when they are near or at foreclosure. We received a phone call from […]
Providing Capital for Businesses in Crisis
By Dean Bachelor, Founder and Chairman More than a decade ago, our country was showing signs of recovery from one of the deepest and most significant recessions in American history. They called it the “Great Recession.” It was deep and broad, and it affected almost every business in the country. It began as a sub-prime real estate correction and led to one of the largest-ever […]
A Form of Capitalism That is Crucial to Our Nation’s Recovery
By Dean Bachelor, Founder It was the late 1980’s. I was having lunch with the president of a bank in Red Wing, Minn., at the St. James Hotel, the landmark hotel founded by 11 civic-minded businessmen in 1875. I had just stepped into the role of CEO at Durkee-Atwood, the town’s second largest employer (Red Wing Shoe employed 500+ and Durkee-Atwood had 325 employees). Located in […]