Press & Articles
Platinum Group’s Press & Articles section features articles written by Platinum's partners and members, as well as others we have found to be particularly resourceful. Many of the articles by team members have been featured in such reputable publications as Upsize Minnesota and various business journals. Please be sure to sign up for our newsletter to receive these resources straight to your inbox on a monthly basis.
Platinum Group was honored as a recipient of the 12th annual Minnesota Business Ethics Award (MBEA) on May 18, 2011. The MBEA recognizes Minnesota businesses that have exemplified and promoted ethical conduct for the benefit of the workplace,...
The time between getting notice of losing accounts and their impact on your profit and loss statement can vary. Corporate edicts could take months and even years to implement. Other scenarios may be more brutal when a major customer makes an...
In three examples, Hehre presents the case for simplifying financial information. Over time some traditional accounting systems have become more complicated in well-intentioned attempts to improve the accuracy and clarity of information. At best,...
Many business owners are singing the blues right now because they didn’t sell their businesses a couple years ago for a high valuation. Now that times are tougher, owners can’t get their price — and many Baby Boomers are unable to retire as planned...
There’s more clarity and freedom when a person can look at the future phase of life by planning ahead. What business owners need now more than ever is a vision for the future of the best paths for both themselves and their businesses.
Tom presents three pricing-management strategies that "need to be managed every single day in today's economy. The world of stable prices has come to an end, at least for now, which may require new skills and greater vigilance on the part of both...
“Getting stuck” happens to the best of entrepreneurs. Whether the biggest employer in a small town or a family business in a big city, they often find themselves in critical transition such as losing customers, marketing share, money or the dream of...
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...
Changes in ownership can ignite trouble when lenders shift from having a reasonable debt coverage ratio to financing the same company that is highly leveraged. That was the case of a 15-year-old industrial coatings firm where the senior secured...
Five “red flags” to watch to keep cycle times fast
With the threat of foreign competition, many senior factory managers are wondering “Is it possible to stay competitive and still offer a product at a fair price in the United States?” The ability to...
Here’s how to implement informal plans of reorganization and avoid Chapter 11 or liquidation.
Four years ago, a $23 million manufacturer of electronic circuit boards was seriously considering selling the company at a discounted price after its...
Star Tribune
At a time when U.S. business tends to focus no further than the next quarterly returns, some executives are trying something new to plan further ahead.
They've decided to disappear for a while.
Business leaders are taking sabbaticals ranging from...
After 30 years of working in the family business, Jack MacBean felt it might be time to let his son run the company.
“No two journeys are the same,” said Steve Coleman, a consultant with the Platinum Group of Eden Prairie, which hosted a breakfast meeting on “Transition Options for Business Owners.”
A true tale of a company owner who took a sabbatical from his small business—and came back to an improved business.
When a company is floundering or succession is an issue, tough decisions are multiplied if there's more than one owner. Challenges are compounded in family-owned businesses. There are no "one size fits all" solutions for overcoming ownership...
NO ACCOUNTABILITY.
No time schedules. No decision overloads. No multitasking.
Everything was turned off when I took a four-month sabbatical from my job as president and one of four owners of a financial services firm, Askar Corp.
The stress of...
