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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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Business Is Tough, But Life Is Good - How to Impact Employees Through Your Attitude

Last week, while making my way home from a few meetings in South Florida, I had the opportunity to meet a long standing client of our firm (let’s call him Mr. Wise) for dinner. He is respected as an intelligent, conservative business leader who has an excellent track record when it comes to evaluating business opportunities. Naturally, we talked about his family first and eventually the discussion transitioned to his businesses and the current state of the economy.

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Is It Enough To Save Your Business?

To say that the economy is bad is an understatement. The going is tough right now, and there is no denying it. How a business reacts to this environment and its own internal challenges are determined by its leadership. I see leadership in businesses reacting in many different ways, but the extremes of those reactions run from:

1) Ignore the problem, it will go away— 2) Benign neglect— 3) An honest to goodness willingness to make the necessary changes in the business.

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How Do I select a Successor for My Business?

Very carefully! There is a great deal riding on this decision. Some of you have children actively involved in your business and, thus, naturally feel the above question does not apply to you. For a small minority of you, this may be true. You may indeed be blessed with a passionate, capable and committed successor. However, the vast majority should think again!

Approximately ten years ago, I met John Smith (fictitious name), a successful business owner, who was the proud father of three children. His oldest son, Harry, was active in his business. Unfortunately, Harry was not well respected by managers and employees in the organization. A logical question you may be asking is, why? Good question.

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What is in Succession Planning for Me, Beyond a Distraction and Bills?

What's in Succession Planning for Me?

Some things are more obvious than others. However, occasionally I am asked “why should I do succession planning?” My response is that succession is not a natural progression of an enterprise. You have a right not to care but if you don’t care, your employees, bank, strategic partners, and community who love you are going to resent you.

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Have You Thought Through Your Exit Strategy

In my experience as a succession planner I have encountered several business owners who have expressed a desire to transition their business to either family members or entrepreneurial key managers. Many of them believe they are ready to turn over the reins but all too often they have not considered all of the implications and the vast majority have done very little to facilitate an exit strategy for various reasons.

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The 10 Commandments for Integrating Family Member Employees Into Your Business

The Biblical assertion” to whom much is given, much is required” certainly applies to family member employees. Although the doorway to a career may be open and inviting, the pathway of family member employees has many challenges. No doubt, earning respect is a formidable task. As previously discussed, many of these challenges are good as they separate the pretenders from contenders. However, family member employees do not need handicaps. There is no reason to add unnecessary frustration, stress and humiliation to the inherently bumpy road that they must endure to achieve the training and experience needed to become a successor.  

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5 Problems and Solutions in Estate Planning Trusts

Estate planning is an integral part of business succession planning. I am commonly asked what are the most common problems encountered in estate planning trusts.  There are so many problems with trust administration it is difficult to find a place to start or where to stop.  For lack of a better plan, let’s consider what I have found to be the top five trust administration problems:

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Vision, Conflict and Business

A clear, concise, well communicated, self-affirming vision is a critical component to the creation of an unstoppable family business succession plan.  However, just establishing a vision in this complicated world is not enough because in the business succession realm, this vision involves teamwork. Unfortunately those whom we endear, those whom we love, those whom we depend upon to continue our businesses and those who depend upon us for their careers can complicate our circumstances and the achievement of a succession vision that on a good day has many moving parts and on a bad day can appear mind boggling. In the midst of complications with family, key managers, lenders and vendors succession can become such a hassle that a business owner may want to isolate himself. Unfortunately this isolation is completely counter productive to the achievement of a vision that requires a team effort. Within the realm of business succession planning, the vast majority of these succession problems are cause by vision conflict. Allow me to explain this frustrating predicament and the remedy.

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Sibling Partnerships

Sibling Partnerships: If you are a part of a sibling partnership in business or anticipate being in one in the near future, please understand that your relationship, just like any other relationship, will require a significant amount of effort to make it an effective one. Effective sibling partnerships will not happen by default. Natural behavior is to be competitive, self promoting and self serving. It takes a purposeful, dedicated effort to achieve win/win with siblings and there are many factors that lead to the effectiveness of sibling partnerships. Here are ten fundamental suggestions as to how you can establish and sustain an effective working relationship with one or more siblings:

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Brand Bible?

What should be determined immediately is if "brand bible" is just being used as a cute term for core policies and procedures or do they really mean "Brand Bible."

The concept of using the term brand bible conveys that this document is the foundation or reference for belief, trust and faith. Inherent with the behavior, attitude, attained skills, knowledge and experience that are associated with belief, trust and faith there is the assumption that the business will grow in power, strength and resilience. However, this is faulty logic if there has been no process through which the brand bible has been proven as the source of strength as in Bible. In the absence of a profession of belief and faith by the rank and file employees and managers who are integral to the strength in the mystical powers of branding the use of the term bible is very assumptive. Actually, a safer presumption would be that all those exposed to the brand bible the first time will have doubt or even cynicism. 

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Hold your Tongue to Keep the Peace in a Family Business

In route home from an endeavor to bring a family back from critical mass, I have confirmed again that families who choose to take advantage of family synergy in business must give up some freedoms to download emotions to intimate inactive family members. More succinctly, families who work together all day put the greater family harmony at great risk if they go home at night and emotionally download to spouses and children the acrid details of their daily experiences.

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What's the First Step in Succession Planning?

Succession planning can be an overwhelming thought. There is so much to be done. “I don’t even know what I don’t know.” There are so many potential issues. There are so many opinions. There are so many places where things can go wrong.

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