The first step is a free no obligation face-to-face meeting with yourself and any Advisor you work with to get a clear understanding of your business situation and your emotional and financial drivers.
There are companies that raise capital and others that search for talent. As far as we are aware we are the only business that combines both and finds people with "Smart Money" to help drive your business forward. We also wrap a process around the journey to ensure it is successful.
We have been trading for approximately 5 years under Platform 1 and prior to that as under the Saturn Group and Swan brands. In that time, the business has been involved in over 50 transactions where equity was involved for the incoming leader.
Platform 1 absolutely want to make sure we get the right person so we usually say, "as long as it takes". This normally means around 3 months depending on the assignment and any notice period for the incoming owner. The process is comprehensive and clearly mapped out so we get the right person who will grow your business and improve your wealth.
Not at all. You can sell as little or as much as you prefer; the control is in the hands of the owner and is generally agreed on a case by case basis. For owners exiting their business it is 100% over time however where owners are looking for capability to grow or a business partner they will sell down less equity.
This depends on several factors and there is no one size fits all. It can take as little as a few months and up to many years. It depends on the goals of the outgoing owner however the intention is to agree the timeframe upfront. On a full transition, the owner generally steps back from the day to day running of the business based on the business needs.
Experience has shown us that an Advisor or Advisory Board structure is important when a Business Partner or new owner is transitioning into a business. This forms part of the Platform 1 Process.
Like any relationship, a degree of commitment is important from both sides, however personal circumstances, health, business situations and simply the economy can force different thinking and changing along the way. Part of the reason we spent a lot of time on helping determine direction at the start is to make sure that there is a long-term thinking in terms of what you want as your personal objectives and what the business needs. The Platform 1 approach is flexible enough to deal with changes and an Advisor would work with the owners to navigate any changes.
Essentially Platform 1 does whatever it takes to help an owner step back and optimise the value of their business asset. Whether that is working with them to clarify their options for stepping back, or finding a suitably qualified advisor to help monitor and grow their business or a sale, we work to the owner's desired outcomes. A Platform 1 Options Analysis can sometimes be the first stage to providing some clarity around the exit options and financial implications.
We work particularly closely with Accountants, Banks, Legal Service providers and others. It is very important that your financial and advisory providers are kept closely in the loop and providing the appropriate level of support for these sorts of transitions. Banks and Accounting/Advisory firms are supportive of our process because it does ensure a continuity of relationship and growth opportunities for them. They often refer their clients to us.
Every assignment is different, and typically we will charge as milestones are achieved and over different timeframes depending on what is needed for a business. You do not pay anything prior to formally engaging us. Some of our fees can be based around sharing in the success of growth that has been achieved through the process. This ensures we have "skin in the game" and we find the most capable person with equity to invest.
The reality is that because we are working with people nothing is ever cast in stone and it is very much a relationship management process. Sometimes working with an owner who has done things a certain way for a long period can provide some tension, but we have found critically that the Advisor role is vital across a range of levels - both personally and professionally to the owner and this certainly mitigates any risk and allows for changes in direction to be managed.
Typically, not, as we work for the owner of the business to maximise both personal wealth and individual opportunity. We have relationships with financial institutions and private equity and can facilitate all sorts of beneficial financial arrangements and outcomes for our clients, but this is done by always acting on their and not our behalf.
All our advisory team members have experience across a range of business categories. We ensure your business is matched with the experience and skills you will find valuable and relevant.
No problem. We work with a wide range of business advisors all the time. If you want your own Advisor to be part of the Platform 1 process, we will introduce them to the appropriate Platform 1 disciplines so they can be involved in the process to ensure everything runs smoothly and the goals and opportunities are being met.