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Platinum Group
November 2010
The Platinum Group Newsletter

In cooperation with strategic partner PrinSource, Argos Risk has developed an online, subscription-based service that helps companies monitor the credit risks associated with their customers, suppliers and/or competitors. It is an alternative to traditional business credit monitoring services. Start-up operations required a complex integration of credit information and data from industry leading sources. Irish Titan, the e-Commerce and website design and development company owned by Platinum Group, was selected to build a business-focused web platform and create online marketing tools to attract site traffic. Click here to read how Irish Titan helped an online start-up get to market.


Platinum in the News

Board Dynamics Was NACD Topic

The National Association of Corporate Directors, a nationwide group of professionals who sit on boards of companies, called upon Dean Bachelor to share his extensive board experience on a panel at its recent monthly meeting. Dean spoke on the differences and dynamics between:

  • Ownership — the owners of any company;
  • Governance — those who sit on the board of directors and report to the owners;
  • Leadership — those who lead companies and who report to the board; and,
  • Employment — those who work for the company and report to the leadership.

"Some families have a tough time differentiating between these roles," Bachelor commented, "assuming that because they are the owners, they should be on the board, or be the leaders. Other families realize there are different skill sets required for each role."

For more information, contact Dean at Dean.Bachelor@ThePlatinumGrp.com


Platinum in the Community

Mark and others served dinner recently at River
of Life Lutheran Church in Northeast Minneapolis.

Looking to Help the Hungry? Serve Meatloaf!

Platinum Associate Mark Hoiland recently invited some other Platinum folks — Pat Brennan, Glaydon Iverson, Roger Elias — to serve up meatloaf for 300 people as volunteers of Loaves and Fishes. In addition to regular meatloaf nights, Mark has been on the organization’s board of directors for the past three years as a way to give back to the community. He welcomes others who are interested to serve — food or board assignment — to contact him for more information at Mark.Hoiland@ThePlatinumGrp.com

The mission of Loaves and Fishes of Minnesota is “to provide nutritious meals to people who are hungry in the Twin Cities metro area in an atmosphere of hospitality at site locations where the need is greatest.” More than 346,000 meals were served locally in 2009. Visit http://www.loavesandfishesmn.org/

 


Lesson Learned

The Importance of Unique Ability
By Robert Dahl

I have learned a lot of lessons through my business career, but none of them more important than understanding the importance of unique abilities. Everyone has a unique ability, a natural skill set — a thing that they do better, faster or easier than most of their peers. It’s the one thing that you can do all day long and never gets old.

I learned the power and profitability of this concept in my first business detailing cars for the MPLS auto auction, starting in 1983. I hired my high school buddies and paid them $25 to detail the interior and exterior of cars. One guy could finish a car in about two hours, so that was great money back then. As business grew we decided to split up the work and pay $12.50 for an interior and $12.50 for an exterior. Under the new pay plan, the guys naturally gravitated towards performing the jobs that they did better and quicker. Seemed pretty straightforward to me. If you were faster detailing exteriors, you did exteriors; if you were faster detailing interiors, you did interiors. The result was that we completed more cars per week and the guys earned more money and had more fun working. I really didn’t comprehend the concept back then, as it just seemed to work. While a very basic example, the ability to utilize everyone’s unique ability within my little company delivered immediate and long-term results.

While as entrepreneurs, we naturally believe that we are good in every facet of our business, the reality is we need to hire people who have the unique abilities to be successful in their specific roles within the company. When we do, we build result-orientated organizations that are energized, operate more efficiently and have employees who are more satisfied and productive in their jobs.


Robert Dahl is founder and president of Medina Vineyards Circa 1886, LLC,   Minnesota's preeminent destination winery experience.  He can be reached at robert@medinavineyards.com
Platinum Group
952.829.5700
9855 W 78th Street
Eden Prairie, MN 55344
www.ThePlatinumGrp.com

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