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January 2015

Transition Case Study

Coordinated Team Effort Created Five-Year Transition Plan

The founder and owner of a 30-year-old family business (precision machining) heard about a fellow business owner's succession plan that was facilitated with Platinum Group's help. An introduction was made and work started to create a transition for the founder, his wife and two children — a son who had left the family business and a daughter who worked in the front office. The business had been successful and profitable with a stable customer base, yet the owner was in his 60s and did not have a succession plan.

The owner was reluctant to let go of the business yet encouraged by his wife to make timely decisions and move on. There was uncertainty about who would run and eventually own the business and concerns about how to get money out of the business to fund retirement.

Read how Platinum used a family council for effective communications and decisions.


Platinum In the News

Platinum's Mission — Meaningful Capitalism — Discussed in Radio Interview

 

Platinum Founder Dean Bachelor was interviewed recently on KTIS-AM 900's "God's Work in Progress" program about Platinum's mission — Meaningful Capitalism. The interview covered how Dean and his colleagues at Platinum Group are guided by this mission in their work, especially in tough turnaround situations.

According to radio show host, Jeff Pelletier, "Some people have come to see capitalism as distorted… (however) God gives us the ability to produce wealth. Capitalism, which is the production of wealth, is good but what we do with that wealth is God's primary concern because wealth is stored power — and what we do with power matters a great deal to God."

Dean discussed his early career, lessons learned and early faith journey during the interview. He then explained how Meaningful Capitalism came to be Platinum's mission: "Platinum clients come to us asking for help. It may be a health issue, the loss of a major customer, a problem with their bank, or a serious cash flow concern. I had the realization that helping our clients in their time of need provides a meaningful way for us to be of real service to them, their employees and even the community. We care about our clients …and often end up being a friend who can empathize and put ourselves in their shoes – helping them sleep at night."

Listen to the radio interview and hear Dean share stories about how Meaningful Capitalism is making a difference in people's lives.


Platinum In the Community

Call for Nominations: The MBEA Deadline is January 23, 2015

The Minnesota Business Ethics Award (MBEA) recognizes Minnesota businesses that have exemplified and promoted ethical conduct for the benefit of the workplace, the marketplace, the environment and the community. Platinum Group won the award in the small business category in 2011, which is one of the reasons why Platinum Partner Glaydon Iverson got involved.

"At this time, we are in the 'nominate a company' phase for the 16th MBEA," says Glaydon, a 2014-2015 Steering Committee member. "A nomination from anyone will get the ball rolling; we then contact nominees and invite them to apply. If there is a business that you especially respect or you can urge other people to think about such a company, please consider nominating it."

Nominations are easy: Go to the MBEA site and provide the company name and a contact, if you have it. The deadline is January 23, 2015.

"We expect more than 165 companies to be nominated once again this year," says Glaydon. "Once the nominations are in, we reach out to those companies to educate them about the award, answer questions and encourage them to complete the on-line application. Of those companies nominated, we estimate more than 30 companies will submit an application. All applications will be reviewed by a panel of judges and three award recipients will be announced in the small, medium and large business categories at the annual MBEA luncheon on May 13, 2015.

Visit the MBEA website for more details about the award and luncheon.


Getting to Know...Jim Gambone

Writing Fiction for the Pure Joy of Imagination

By Jim Gambone, Platinum Executive Consultant

Jim says, "Early TV serial experiences must have triggered some part of my brain that still calls me to sit for hours at my computer and create screenplays, film and TV treatments, short stories, and a few novels- still under construction."

I watched my first TV shows when I picked my own ticket for a TV out of a church raffle at the age of two. Because of luck, I had the opportunity as a young child to live in the visual fantasy world of the Lone Ranger, Howdy Doody, Flash Gordon and many other amazing shows. Even today, I occasionally have dreams that are like old TV serials, picking up one night where the dream had left off the night before!

These early experiences must have also triggered some part of my brain that still calls me to sit for hours at my computer and create screenplays, film and TV treatments, short stories, and a few novels - still under construction. And while a few of my "fantasies" have been published, and some even turned into film and video productions, it is the solitary time spent at the computer living in another world, or in some fictional character's mind, that I truly love the best. It is in the "made up" world that I discover parts of myself that are always a surprise!

My fictional creations are fun and I never think of them as work. Where else but in fiction could I be on a three-continent, adventure chase looking for the cure for AIDS — which in my story was originally created as a NAZI biological warfare weapon? How could I ever be a former Navy battleship Captain who finds out he has Alzheimer's and decides with his Navy buddies to refit a old cruise liner so they can spend their final days on the seas they love so much? And where else but in my own mind could I be a 20-year-old sniper on the Berlin Wall with my rifle sights set on a Russian counterpart of the same age, each of us reflecting on how we got there and wondering what the other's life is really like?

I hope and pray that I never lose this creative gift. I don't write fiction to get published — only for the pure joy of spending some quality time with my imagination. I hope you might give it a try just to see where it takes you.

To learn more about Jim, visit his Platinum bio page.

Platinum Group
952.829.5700 • 9855 W 78th Street • Eden Prairie, MN 55344
www.ThePlatinumGrp.com

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