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Atlanta Succession Planning

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Atlanta, Georgia

       850.294.3042 (T)
       407.578.4480 (F)

       Complete Company Directory        

 

 

  

  


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 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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828 Hits

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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1094 Hits

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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881 Hits

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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1174 Hits

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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1511 Hits

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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1400 Hits

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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1466 Hits

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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1488 Hits

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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1419 Hits

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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1248 Hits

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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1516 Hits

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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1296 Hits

Successor Identification - Family versus Non-Family Member Successors

1860 Hits

Family Business Decisions - How Emotions Can Triumph Over Reason

Whoa! I was definitely not prepared for the meeting I just had with my client. Going into the meeting, I thought I was well prepared.

However, I came to realize that emotions have a way of clouding what appears to be very straightforward decisions. The meeting was to facilitate the client transferring substantial assets to his youngest son. The transfer was for estate tax planning purposes and to bring the youngest son up to parity with his older brothers based on earlier transfers the father had made to them. Prior to the meeting, we also had multiple discussions about how the transfer would have had no impact whatsoever on the client’s control of the asset or on his income. It was supposed to be a slam dunk, no brainer meeting. However, it turned into a classic case of emotional hijacking.    

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1456 Hits

Succession Planning or Building Business Value Planning?

There are many reasons why succession planning may be an unpopular topic. Some of which may be:

  • It appears to overwhelming and too emotional to address

  • A fear of giving up control, not wanting to retire, or addressing the inevitable of all humans – our mortality

  • The monetary/ time investment appears to much for the business

  • To excited and focused on growth to think about “the end”

I am not going to minimize any of the reasons above for avoiding succession planning, as they are very valid arguments however; I would like to challenge your thinking on the concept to see if I can move it up on your popularity scale. To do this, I am first going to provide a definition of succession that is much more comprehensive than misconceptions may lead you to believe.

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1320 Hits

Setting Boundaries: How to Avoid Family Business Entanglements

A principle I'm reminded of on a daily basis is: “It is far easier to get entangled than it is to get untangled.” If you've ever tried to unravel a tangled up web of string you know what I'm talking about. Entanglement almost seems to be an effortless exercise whereas untangling can tax even the most patient of personalities.

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1338 Hits

Preparing Family Members to Take Over - As Seen On Automotive Buy Sell Report

Succession planning is a hot topic in the automotive industry and has been one frequently discussed in the pages of Automotive Buy Sell Report. Recent articles by Don Ray and Robert Bass have specifically focused on successor identification and development, and how, in the absence of a qualified successor or the lack of management bench strength, owners are forced to sell their business. 

Click Here to: Read full article on Automotive Buy Sell Report website

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1367 Hits

As Seen in Automotive News - Family feud disrupts DARCARS


Article Written by Jamie LaReau for Automotive News, Jeff Faulkner Cited as an Expert Source


The cornerstone to the success of a family-owned auto retailer is the family members themselves.

So when a family dispute flares, the impact on operations can be devastating. It becomes a concern for many manufacturers and could result in termination of the franchise agreement, experts say.

DARCARS Automotive Group is embroiled in such a family dispute.

Tamara Darvish, 51, a well-known face of the company and leader in the auto industry, filed a lawsuit against her father, John Darvish Sr., 78, and the company he founded. She charged that he reneged on his promise to make her part of the dealership group's ownership team. Her stepbrothers run the company.

The suit, filed Jan. 9 in a Maryland court, will have a ripple effect on DARCARS' 22 dealerships, experts say. And such conflicts usually worry manufacturers..

"Family members are the leadership of the organization and when they are sideways with one another, there is no sense of purpose for the company," said Jeff Faulkner, an Atlanta partner at succession planning firm Rawls Group. "The business is not just about them. It's about their employees, vendors and others who depend on that business."

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1223 Hits

How Giving Too Much to Your Kids Can Impact Your Succession Goals

There are 3 common "giving" pitfalls that create future havoc on your succession plan.  Most of the time family business owners believe they are doing the right thing, but are unaware of the long-term impact of giving or creating unearned rewards such as a job, title or a paycheck.

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1620 Hits

Operating Your Business Like it’s Always For Sale

In early October, Berkshire Hathaway announced it had agreed to buy Van Tuyl Group, the nation’s largest privately held auto dealership group. Warren Buffet, having dipped his toes into the automotive industry by taking a stake in GM, sees the opportunity to replicate Van Tuyl’s success by consolidating dealership groups throughout the Sunbelt.

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1858 Hits