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Atlanta Succession Planning

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Atlanta, Georgia

       850.294.3042 (T)
       407.578.4480 (F)

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T. Jeffrey Faulkner, M.S

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Jeff’s private practice in the counseling industry allowed him to gain specialized experience in working with families in crisis and achieving mutually satisfactory resolution of significant family dynamic issues.

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David Weaver, CEC

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David's career spans over 30 years as a successful business executive, where he specialized in the launch and growth of independent startups and new business units across multiple industries. In these roles, he worked with CEOs and executive management to achieve aggressive growth goals and prepare their organizations for eventual sale.

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As Seen in Multi-Unit Franchisee - Entitlement Is A Silent Killer Of Business

As Seen in Multi-Unit Franchisee - Entitlement Is A Silent Killer Of Business

Entitlement is a stealthy and dangerous virus that has a widespread and abundant impact in your business. Often it becomes so rampant and normal that multi-unit franchisee owners do not even know there are any entitlement issues going on right in front of them.

Let's start with understanding entitlement. Simply, it is when an individual believes they deserve to be treated differently than the rest of those around them. In business, entitlement exists when an employee or senior executive believes they should receive better or different treatment than their coworkers. There are a number of examples, but there are a few that have significant impact.

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As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

Starting December 1, 2016, our industry faces potential impacts from new labor laws, one of which includes creating additional retention challenges to our already stressed talent pool in the franchise industry. The Fair Labor Standards Act (FLSA) of the U.S. Department of Labor (DOL) is making significant changes to overtime pay for employees. As outlined in the article, “New Overtime Rule Compels Problems for Franchisees,” the change means that it is going to force employers to shift the pay status of their employees from salaried to hourly.

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As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

Competition in business is what helps to keep us focused on strategic growth. However, in today's landscape, competition is bigger, stronger, wider, and more present than ever. Innovations in technology give your customers access to similar products and services from companies that are not located in their geographic footprint. With a click of a button, an order can be placed, shipped, and received to a buyer that should have been yours.

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Webcast Replay: Turning Investment and Planning Roadblocks into Roadmaps

Webcast Replay: Turning Investment and Planning Roadblocks into Roadmaps
 

 

 

 

Turning Investment Roadblocks into Roadmaps

Click Here to Access Replay of Webcast 

Hosted by The Rawls Group - Business Succession Planners and Bernstein Private Wealth Management.

Entrepreneurs we meet often struggle with turning their vision into reality. Market fluctuations, cash flow, capital expenditures, family, ability to recruit and retain top talent, and a litany of other influences quickly take the business off course. Common questions we hear are:

  • How do I overcome roadblocks to grow my business and increase value?  
  • How can I feed the golden goose while also building personal wealth independent from the business?
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As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

Multi-unit franchisee businesses, regardless of the concept, location, or size, all strive to build value, create longevity, and generate success. Ultimately, with value, longevity and success, the world is your oyster. No matter your short or long term vision, whether it be a high value sale or transfer to a key manager(s) or family.

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As Seen in Multi-Unit Franchisee Report - Technology And The Multi-Unit Operator

As Seen in Multi-Unit Franchisee Report - Technology And The Multi-Unit Operator

How often do you conduct business via your cell phone? And when was the last time you took a picture with a traditional camera? Technology has developed so today, that our phone has become our constant companion fulfilling a variety of needs. If you had to guess when the first camera phone was released, would you know? I was surprised too, it was 2002; and it was one of those flip phones. Today, in addition to taking pictures, we can stream live video, and even see the person with whom we are talking, in the moment! The reality check here is that although the introduction of the camera phone was impressive at the time, it was a very small step to introducing a new way to communicate.

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Pass the Baton So Your Successor Can Fill Your Shoes

Developing a successor is paramount to sustainable business success. It requires empowering your successor to step up to the challenge, while holding them accountable to strategic goals. For a period of time there are multiple hands on the baton. If this delicate transition is not done properly there can be a demotivating tug of war experience - you might run past the disqualification line before the hand off is complete, or even worse, drop the baton.

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Juggling Expectations in the Family Business - By Kendall Rawls

Being in the family business is no easy task. You are juggling expectations amongst your loved ones from two different spectrum – family and business– as well as preconceived notions from managers, employees and vendors that you are likely enabled, under-qualified, and of course, grew up with a silver spoon in your mouth. No matter your work ethic, passion, and drive for the business; all family member employees are fighting the nepotism stereotype.

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As Seen in Digital Dealer Magazine - Protecting Your Profits From The Unknown

As Seen in Digital Dealer Magazine - Protecting Your Profits From The Unknown

Great article by Jeff Faulkner in Dealer Magazine. How to protect your business, and even see it thrive, during the inevitable next economic downturn. Spoiler: succession planning is key!

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How to Build Teamwork Amongst Key Managers and Family

Your management team and family member employees should form the backbone of your business. Ideally, they know and live your values; they are in alignment with your goals; and they are your boots on the ground interacting with customers, employees, and vendors. At their best they optimize resources to achieve a high level of performance, and drive your business onward to future success. So what happens when your managers and family don’t work as a team, and how can you turn things around?

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Succession Planning: A Tool to Build Business Value by Kendall Rawls

Often times the term succession planning creates a negative feeling for business owners. The reality is, the stigma tied around the word succession is too closely aligned with “death” and “retirement”. In addition, the natural anxiety and emotions that come with the thought of exiting the business can, and do often prevent owners from planning for the future. Entrepreneurs simply do not want to plan for a time that means they are no longer building a business. The reality, however; is that succession planning has a direct impact on the value of the business.

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Planning for the Predictable, Probable, and Possible

Former Secretary of Defense Donald Rumsfeld was widely ridiculed for his “what we do not know” response during a 2002 Department of Defense news briefing.

In part, Rumsfeld said about threat assessments, ‘As we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns - the ones we don't know we don't know. And if one looks throughout the history of our country and other free countries, it is the latter category that tend to be the difficult ones.'

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The Culture of People

I admit it. I’m an Apple junkie. Our family has iPhones, MacBooks, an iMac, Apple TV, and several iPads (I bought my 84-year old computer-less mother-in-law one last Christmas and had to increase my data plan just to accommodate her web surfing!). I will not, however, be sporting an Apple Watch since I don’t wear a watch anyway and even with sleek looks, the thought of wearing a ‘computer’ on my wrist reminds me too much of the geeks of yore who wore their calculator watches that required a toothpick stylus to peck at the small keyboard.

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Just Give Up

If I were to place one image here, a ‘swoosh’ that looks something like a happy go lucky check-mark, you would instantly recognize it – the Nike logo. You would also call to mind their slogan, ‘Just Do It.’ My interpretation of that slogan is that they are calling us to just get started, get practicing, get swinging, get running, get physical, and enjoy life - using their products, of course!

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5 Steps to Streamlining Your Business

Another initiative that, in my educated opinion, has the ability to set your company apart from the competition is streamlining your processes. Nobody, but nobody, likes to be told how to do their job. This is why this issue sets organizations that excel at it apart. Standard operating processes lay the foundation upon which an organization that desires long-term sustainability can build. These processes are not intended to be constraining. They are intended to provide the parameters of operation, like the banks of a river. When the water remains inside the banks, it’s powerful and productive. When it overflows those banks, it’s powerful and destructive…and very messy!   

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How to Create Family Member Employment Policies

In developing family policies, I used to think it was the documented policies that made the difference in preventing future conflicts. But, I have come to believe that it is not the policies themselves that promote family harmony. Rather, it is the process of developing the policies that really makes the difference. Family businesses have been a subject of formal research for over 20 years and developing policies is definitely a best practice of those that last. But, what research seems to bear out is that it is the family that is flexible with one another and trusting of one another that really makes the difference. The process that gets everyone involved is a process that allows family members to work together and build trust with one another.

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How To Leverage Your People To Build Sustainable Business Value

In order to build long-term sustainable value in your business, you must understand that the business is all about the people. People generally want work with a purpose, to feel like they are a part of something bigger than themselves, and that their work matters. As a business owner, you need to understand that you are leading a group of volunteers. Your employees could go somewhere else to work. What will endear them to you and the company is when you provide them with a clear and compelling sense of purpose. When there is a clear purpose that drives you and your organization, it will put you in a position to determine which of your people are in alignment with that purpose and which ones aren’t.    

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Sibling Rivalry to Sibling Synergy

Siblings in business who are experiencing rivalry issues have simply not recognized that they are now adults. They have carried the petty issues of their childhood with them into the business. When you become an adult you have to put away childish things. Sibling rivalries in family business are often rooted in a competition to win dad’s approval. It’s time to recognize that you are in business together fighting for the survival and success of the business. You must spend more time winning each other’s approval than dad’s.   

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But That's Not Fair: How To Overcome the "Fairness" Monster in the Family Business

The issue of fairness is at the heart of problems we encounter daily working with business owners and their families on their estate and succession planning. “That’s not fair! My brother expects me to do all the work while he gets equal pay”; “My parents expect me to run the business for the sake of the whole family – this is a father-son business, but my siblings think it is a family business”; “My father won’t retire – I’m 52  when do I get my chance?”; “My children want to push me out – I built the business, not them”; “Why won’t my son run the business the way I did?”; “Why can’t my children appreciate what I’ve done for them?”; “Why won’t my children work as hard as I did?”

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As Seen in Multi-Unit Franchisee Report - Emotional Rescue: Understanding Relationship Dynamics in the Family Business

Recently one of my partners and I were facilitating a meeting between a father and his daughter to work through some mismatched expectations between them in the family business. We had already had several prep meetings laying the groundwork for aligning their expectations, which were all positive and headed in the right direction. They were both excited that we were going to be able to help them get some things out on the table, as they typically would avoid one another and leave issues unresolved.

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