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Orlando Succession Planning

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Orlando, Florida - Headquarters

       1700 W. Colonial Drive
       Orlando, FL 32804
       407.578.4455 (T)
       407.578.4480 (F)

       Complete Company Directory

 

 

 Orlando City Scape, by Sky Noir

   

Loyd Rawls, CEO

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Loyd H. Rawls is one of the nation’s leading succession planners. Since 1973, Mr. Rawls and his associates have provided business succession services for the owners and key executives of closely-held, capital intensive family businesses throughout the country.

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Daniel Thill, COO, CFP®

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Dan specializes in asset management programs, investment analysis, investment planning and non-qualified deferred compensation plans.

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David Ciambella, CFP®

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David specializes in addressing and solving complex problems and issues that arise as a result of comprehensively addressing business succession.

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Russell Phillips, M.A., M.B.A

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Associated with The Rawls Group since 1995, Russell Phillips’ primary focus is working with business owners, key managers and family members on the varying relational issues that impact the business legacy and their pivotal relationships.

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Champ Rawls, CLU®

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Being a part of his own family’s business, Champ has a unique insight into the difficulties, challenges, and triumphs that our clients face when combining family and business.

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Dan Iosue, CFP®

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As a succession planner, Dan Iosue, CFP® leverages his more than decade of experience in corporate leadership and financial planning working with clients to help them achieve their long-term business goals.

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How to tie Key Manager Golden Handcuffs to Performance

A critical component of the Succession Matrix® is Key Managers Motivation and Retention. The classic response to this issue is development of a golden handcuff that uses “gold” in the form of deferred compensation to provide a “handcuff” through deferred vesting and covenants regarding competition and confidentiality. Noting that there are three generic classes of key managers (Key Manager, Special Key Managers and Very Special Key Managers), the structure of the golden handcuffs is dependent upon the unique psyche of each class of key manager.  For more background on how the attitudes and motivations of each class of key managers impact the design of a golden handcuff, consult my book dedicated specifically to this subject titled “The Succession Bridge”.

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1848 Hits

Bigger versus Better: Business Growth and Succession Planning

Succession planning is all about the long-term continuation of success through the next generation of owners and managers. Discussions of long range success generally bring up the subject of growth. This is a natural discussion because inherent with the concept of being successful is the assumption that successful businesses are vibrant and “growing” businesses. Furthermore, there are many who believe that succession and growth are synonymous. This belief is based upon the assumption that if you are preparing for the continuation of success there must be growth because competition is increasing and margins are decreasing.

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1808 Hits

Is Your Family Business Out of Balance? What You Should Know About the Family Business Equilibrium

Throughout my years as a business succession advisor I have witnessed a familiar set of actions and consequences across varying business types, which have resulted in constant turmoil and an imbalance in the “Family Business Acceptance Equilibrium.”   Since I have experienced so many businesses’ struggling with this common issue, it led me to give thought to why???  The culprit appears to be a confliction of attitudes that is blind, self centric and places a higher priority upon feelings, values or beliefs of one family member or key manager(s) versus the welfare of the organization as a whole. 

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Why it Takes 10 years to Confirm a Successful Family Business

Classically I believe it takes ten years to achieve confirmation as a “successful family business”. Up until approximately that point in time family leadership is being tested to determine if it has the moxy and versatility to maintain a workable balance and move closer to the optimum Family Business Acceptance Equilibrium unique to that family and business. Up until the ten year point from my perspective, most leaders do not know if compliant family and staff are simply tolerating insensitive “what have you done for me lately” conditional acceptance or appreciating the constant reaffirmation that “we are fam-a-ly” unconditional acceptance.

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Family Attitudes and Business Issues

More often than not, a weakness in what was prematurely perceived to be a successful family business is a reflection of predictable environmental wear and tear on both relationships and processes. Usually this wear and tear is due to the inability to achieve or maintain the Family Business Acceptance Equilibrium or Family-Business balance. 

Relationally, there may be great harmony or operationally  impressive nothing-slips-through-the-cracks accountability, however; regardless of past achievements, as a family business matures   success in both harmony and productivity that was initially easy to achieve   begin to be more challenging. Initially family members, eventually employees and ultimately on lookers recognize that there is something amiss. Business is no longer sufficiently gratifying for family members or productive for managers. Typically there is growing dismay as to why the business has become so difficult followed by the expenditure of significant time, energy and consulting dollars trying to tune up processes and procedures when the culprit lies within the culture of the business.

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How to Create Stronger Family Business Relationships - Respect and Trust are Experiential

The presence of respect and/or trust within a group confirms a Blood Related Business Group or a family in business. Love is sweet and it can indeed amplify both trust and respect but love is not a critical component of family or family business performance.  The respect and trust associated with healthy families provides the natural advantage with regard to accountability, governance and teamwork. This organizational natural infrastructure advantage is what can give a family a performance edge in business. The presence of both respect and trust and variations of each make some families more effective than others.

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What Is a Family Business?

I have always believed that family has a built in advantage in business. From my perspective the natural behavior of family provides both governance and teamwork benefits. Unfortunately some families leverage their natural behaviors better than others. The wide variation of performance among family businesses brings up the question, “What makes some family businesses better than others?”

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I've Sold My Business, Aren't I Done With Succession Planning?

Recently I was invited to speak to a group of successful business owners about the various aspects of succession planning (what I refer to as the Succession Matrix). The Succession Matrix consists of ten interdependent factors that business owners must successfully address to improve the odds that their business will successfully make the transition to and through the next generation of owners and managers. Addressing these factors is important regardless of whether you plan to sell your business or plan to keep it in the family. Often times these critical factors are ignored and unfortunately result in the business becoming another casualty.

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Successor Development - How to Use Adversitity to Your Advantage

The news media is doing an incredible job of flooding the airwaves with negativity day after day. Employers, employees, their families and their communities have been impacted by the economic downturn and likely would unanimously agree that business is tough. It has been my experience that some of the most valuable lessons I learned have come from dealing with tough times and learning to overcome adversity. In this regard, the economic downturn presents an incredible opportunity! The question is: are you prepared to capitalize on the opportunity?

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Effective Leadership - You Set the Tone

A few days ago I came across the following piece titled IT'S UP TO ME by Haim Ginott

“I've come to the frightening conclusion that I am the decisive element in the classroom. It's my daily mood that makes the weather. As a teacher, I possess a tremendous power to make a child's life miserable or joyous. I can be a tool of torture or an instrument of inspiration. I can humiliate or humor, hurt or heal. In all situations, it is my response that decides whether a crisis will be escalated or de-escalated and a child humanized or de-humanized.”

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1332 Hits

How Important is an Operating Board of Directors for Your Family Business?

I am just back from an Operating Board of Directors meeting with a long standing client that brings to light several important business succession theorems. As a refresher, an Operating Board of Directors is a Board of Directors that actually operates. In contrast, ninety-nine percent of the Board of Directors of closely held companies are perfunctory. The directors never actually meet or provide oversight accountability. The attorney or Secretary prepares boiler-plate minutes for directors to endorse and satisfy annual regulatory requirement.  I had convinced this Board consisting of a 77 year old widow and her two sons that it was prudent to come out of their offices and endeavor to work together to provide oversight to a recently hired new CEO.

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Operating Board of Directors - Good Meetings Rarely Just Happen

So as previously described, we have now had our first Operating Board of Directors meeting after twenty-five years of dancing around and not substantively working together to supervise or operate the business. The new CEO has got his feet on the ground and had demonstrated that he is a superior manager as compared to his predecessor.  All are generally comforted that the new CEO decision appears to have been appropriate. Furthermore, there are a few other family business pearls of wisdom to be learned from this experience. 

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Operating Board of Directors - Members Vs. Participants

So as previously described, an Operating Board of Directors needs a plan of operation. Just coming together to discuss operations and hold management accountable does not work. The plan will deliberately address what part of operations should be discussed and what is a waste of time; what are reasonable benchmarks for management accountability? These are reasonable questions that do not get addressed by random luck. There must be a plan and a process to get the most out of the time invested in an Operating Board of Directors.

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Is Your Family a Liability to Business Value?

“We want you to be part of our family” is the common accolade. “We want to think of you as one of our children and we hope you feel the same. Make yourself at home and we will treat you like one of our own.”

To be considered a part of the family is a compliment in any social setting. You have standing. You can be counted upon and you can expect the benefit of the doubt. The more perceived social, political or financial power imputed to a family, the greater the compliment. Within the family business realm, being told you are a member of the family generally creates an immediate feeling of prestige reflective of the depth and breadth of the family’s business.

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Aging Parents? What is Guardianship and Why You Should Do Everything to Avoid It

Many of us have moved from home and have ageing parents at a distance. This distance does not impact our love or concern. We stand ready to fly in and provide care and attention in the event of the inevitable needs or challenges associated with ageing.  Beware of vermin lying in wait for good intended children endeavoring to attend to parents at a distance!  Specifically, as I have personally experienced over the last six years with my Mom and Dad several states away in N. C. from which hopefully you can avoid problems associated with long distance guardianship or probate. 

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What You Should Know About a Long Distance Probate

The challenges and opportunities of careers have moved many of us away from home. Many of us continue to enjoy going back for a dose of that unconditional parental love and to hang with old friends.  However over time, we become aliens in our home towns unable to relate to an environment that does not seem to keep up with time. Furthermore, as many of us have learned, there are challenges associated with attending to ageing parents from a distance.

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1424 Hits

Are Your Bases Covered? - There are Loved Ones Dependent Upon You

Although many of us feel we are in control of every aspect in our lives, the first week of November rudely reminded us how fragile life truly is. The unexpected massacre in Fort Hood, Texas changed the lives of countless families and friends, especially those who lost loved ones. Imagine for a moment you went to work today and due to some unexpected tragedy such as the deadly shooting at Fort Hood, did not make it home? How would that financially and emotionally impact your spouse or significant other? How about your children? What about your business? Be truthful. On a scale of 1 to 10 with 10 being the best, how well have you prepared for the unexpected?

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1344 Hits

Financial Affairs - Eliminate Surprise For Your Loved Ones

Thirteen years ago, a new client who lost his wife prematurely came to me with a large box full of papers that included several pieces of financial information including a dozen or so old life insurance policies. He had no idea if the life insurance policies were in force or not. Needless to say, investigating the content in this large box was quite time consuming. During one of the lowest points in his life, losing his wife of thirty years, this gentleman and his children were tasked with pulling the pieces of their financial puzzle together.

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Criticism is Criticism Irrespective of Intentions

As mentioned previously there are two issues implicit to this question. I previously addressed the motivation of an adult child when affirming the desired behavior has not worked and “tough love” is not practical because the reaction of the non conforming child is intolerable.  Unfortunately there are not many options other than what I described: avoiding confrontations to maintain a relationship while conveying “be respectful because your current behavior will impact your access to my estate after my death”.

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Family Business Issues: Love, Tough Love and Letting Go

“Loyd I have tried tough love and it did not work.”

Such was the frustrated, emotional exclamation of an 83 year old business owner trying to deal with a 58 year old son who was apparently acting like a teenager. According to the explanation, irrespective of pleads by his parents who were technically in control of the business, the son would spend from the family’s business on his personal desires and wants. Based upon the dad’s description, the son stepped across the line one day and could not tell the difference between the reasonable and the ridiculous.

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1318 Hits