Mentoring a Family-Owned Business Back to Health How Platinum guided improvements in lender relationships and business operations to get a company back on track Situation: An $8-million, family-owned service business with dominant market share veered from its core business as the owners pursued other businesses, becoming significantly unprofitable. As a result, lines of financing relationships with outside senior and subordinated lenders were damaged — and the company quickly found itself dealing with the senior lender’s workout division. A frustrated subordinated lender suggested the need for new management to operate the business going forward and introduced Platinum Group to the family. To learn more, please visit https://lnkd.in/ejfpi5w #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
Platinum Group
Business Consulting and Services
Minnetonka, MN 1,525 followers
Your Future. Our Passion.
About us
Platinum Group offers a confidential place for small, mid-sized and family business owners to share their dreams, challenges and struggles. We understand the stress and uncertainty of many business owners, which make it difficult to move while hesitant. First, we listen; then we thoughtfully and strategically respond with a focus on the outcomes that will move your company forward. Our four core services: business advice, business turnaround, business transition and family business. Within these service areas are the following specialties: financial and M&A advisory, cash flow management, conflict resolution, ownership transfer, interim leadership, crisis management, succession planning, and more. More than 1,400 companies have turned to Platinum Group to grow, thrive and transition their companies for over four decades. We are a team of seasoned business veterans who understand the complexity and challenges of business ownership. Our expertise is steeped in running and/or owning companies, with a focus on manufacturing, distribution and services businesses. Some of the most common uncertainties we hear from business owners include: “How do I prepare for a business transition?” “How do I transfer business ownership to the next generation? “I’m feeling stuck and stressed about how to grow my company.” “How can I create more business value for my family business?” “How do I overcome a business crisis?” “How do I resolve conflict within our family business?” Our Core Values and mission, Meaningful Capitalism,TM guide our response to ensure we do the right thing – always. We are passionate about our clients’ futures because we believe that successful businesses and a strong market economy make a positive contribution to society. It is truly meaningful work for us to help companies to achieve future success, however the business owner and leaders define it.
- Website
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http://www.theplatinumgrp.com
External link for Platinum Group
- Industry
- Business Consulting and Services
- Company size
- 11-50 employees
- Headquarters
- Minnetonka, MN
- Type
- Privately Held
- Founded
- 1982
- Specialties
- Business Advice, Family Business, Business Transition, and Business Turnaround
Locations
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Primary
12301 Whitewater Drive
Suite 10
Minnetonka, MN 55343, US
Employees at Platinum Group
Updates
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Family Business Owner Stays Engaged Via New Leadership Role How Platinum helped to manage the last Challenge of Entrepreneurship Situation: An entrepreneur who started his family business in a garage and grew it to $40 million decided to step down. He hired a nonfamily member to run the company and train his son who was not quite ready to take over the business. To ensure a smooth transition, the owner met monthly with his new president to review the company's performance. To be successful, it was determined that the owner would not come into the office as much, but this proved to be a difficult step for him. Platinum’s Tom Hubler was invited to help the owner manage the last Challenge of Entrepreneurship. To learn more, please visit https://lnkd.in/g9M-h4jT #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
Family Business Owner Stays Engaged Via New Leadership Role - Platinum Group
https://theplatinumgrp.com
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Conflict Resolution Was Key to Saving One Marriage, Three Businesses and 100 Jobs How Platinum helped business owners settle “clash points” Situation: A husband and wife who owned three businesses, which complemented each other, were referred to Platinum Group by a close friend to evaluate the health of their operations. After successfully completing an Opportunity Assessment – where Platinum reviews the business finances, operations, governance and culture – recommendations for improvements were outlined. As part of this process, it became clear early on that the two owners’ marriage was highly distressed. The strain was so stark that they openly admitted they were considering divorce, dividing up the assets and shutting down their businesses. To learn more, please visit https://lnkd.in/ee_bXq3 #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
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Happy 4th of July from all of us at Platinum Group! Read more at https://lnkd.in/dP8KcvpN #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
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Bankruptcy Avoided Through Sale Transaction How Platinum helped owner and lender to identify a buyer, cover debt and save jobs Situation: A manufacturer of critical components for OEMs was anticipating lower volume from a major customer. The owner projected losses and, due to the existing debt level and limited borrowing capacity, was considering bankruptcy. The company’s lenders wanted to avoid a bankruptcy because it would result in liquidation of the business and a loss of jobs in the community. The lender asked the owner to engage Platinum Group to evaluate options. To learn more, please visit https://lnkd.in/gDjmf7Xv #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
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Platinum Group offers a confidential place for small, mid-sized and family business owners to share their dreams, challenges and struggles. We understand the stress and uncertainty of many business owners, which make it difficult to move while hesitant. First, we listen; then we thoughtfully and strategically respond with a focus on the outcomes that will move your company forward. Our core values and mission (Meaningful Capitalism™) guide our response to ensure we do the right thing – always. For a no-obligation consultation, contact us at 952-829-5700. Read more at https://lnkd.in/dP8KcvpN #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards
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The Meaningful Capitalism Awards celebrate businesses that are financially successful, privately held, free market enterprises benefiting all of their stakeholders in significant ways. Platinum Group would like to congratulate The Prouty Project for being a 2024 MCA honoree. The Prouty Project is a strategic planning, leadership development boutique consulting firm. They will work with you to co-create a solution that best serves your business by elevating your clarity on vision and purpose. To learn more about The Prouty Project, please visit https://proutyproject.com/ To learn more about the MCA event, visit https://lnkd.in/gYnN-jbb #proutyproject #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness
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The Meaningful Capitalism Awards celebrate businesses that are financially successful, privately held, free market enterprises benefiting all of their stakeholders in significant ways. Platinum Group would like to congratulate Mytech Partners for being a 2024 MCA honoree. Mytech Partners provides managed IT services for small and medium-sized businesses in Minnesota and Colorado. They will ensure your technology does what it needs to do by developing an IT strategy that keeps your company’s goals in mind. To learn more about Mytech Partners, please visit https://mytech.com/ To learn more about the MCA event, visit https://lnkd.in/gYnN-jbb #mytechpartners #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness
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The Meaningful Capitalism Awards celebrate businesses that are financially successful, privately held, free market enterprises benefiting all of their stakeholders in significant ways. Platinum Group would like to congratulate Irish Titan for being a 2024 MCA honoree. Irish Titan loves to listen. They learn about your business and your exact goals for the project. Then it's time for some action. They bring their full suite of designers, engineers, and ecommerce strategists to execute a plan. To learn more about Irish Titan, please visit https://lnkd.in/ggtgf4eU To learn more about the MCA event, visit https://lnkd.in/gYnN-jbb #irishtitan #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness
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Happy Memorial Day from all of us at Platinum Group! #platinumgroup #businessadvice #businesstransition #businessturnaround #familybusiness #mca #meaningfulcapitalism #awards #meaningfulcapitalismawards