Powerful Book of Real Stories of Business Owners in Transition is a Blueprint for Succession Planning

MINNEAPOLIS, Minn. (August 19, 2014) — Baby boomer owners pondering how to exit their businesses can learn from other owners' transition stories in a new book authored by Steve Coleman and Jim Gambone, members of Platinum Group, a Minneapolis-based advisory firm. The book, Find What's NEXT For You: Business Owners Share Their Transition Stories, is a collection of personal experiences, tips, best practices, and lessons learned for owners thinking about selling or passing on businesses to the next generation.

According to a 2012 MarketPulse study, "For the first time, baby boomer retirement was the number one reason driving business sales across all Main Street and lower middle market sectors."

The owners' stories have been originally presented at monthly breakfast roundtables facilitated by the book’s co-authors, experts in business succession planning and inter-generational issues:

  • Steve Coleman, a partner at Platinum Group who leads Platinum Transition Services, an advisory practice within the firm that specializes in working with business owners who are considering their next transition in life after building their business. Coleman has advised family and privately held businesses for 30 years and has facilitated family councils to help families communicate about exit strategies
  • James Gambone, Ph.D., has 23 years of helping businesses and organizations understand what it means to work in a multi-generational work environment or sell a business to a younger generation.

Platinum Transition Services offers:

  • Biz-Bridge™, a unique on-line assessment software tool aimed at helping financial planners, asset management firms, CPA firms and law firms with estate-planning practices and other professionals who are advising business owners with their exit planning.
  • A monthly breakfast for business owners considering making a transition
  • Consulting services for business owners and their advisors who are involved in helping business owners make their life transition from business owner to the next step
  • Books, training seminars, forums and other aids for transitioning business owners and their advisors

Find What's NEXT For You: Business Owners Share Their Transition Stories, the eight-chapter book, includes: uncovering a personal ownership story, understanding the next generation, getting a business ready for transition, designing a personal and business transition plan, making personal lifestyle choices, defining a genuine legacy, and learning from others through best practices.

"No two transition stories are alike, which is why it is a powerful book of real stories about real business owners," according to the co-authors. "It's a blueprint for succession planning."

In addition to the personal stories, the book’s advice includes seven lessons for finding a successor, six dimensions of life for creating a comprehensive transition map and five basic elements of a good transition plan.

Find What's NEXT For You: Business Owners Share Their Transition Stories is available at www.ThePlatinumGrp.com, www.biz-bridge.com and www.amazon.com for $19.95.

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