pornn

As Seen in Park Press: Do Good, Have Fun, Make Money

As Seen in Park Press: Do Good, Have Fun, Make Money

What is your workday mantra? The Chairman of The Rawls Group, Loyd Rawls, reminds us often to “do good, have fun, and make money.” I believe it is a tone to set for the day.

The order in which it’s spoken makes all the difference. I find myself often wondering if I’ll hit all three, in that order, when going through my day. Are the options under consideration going to do “good”? If so, will the outcome feel or result in good, and for whom? What kind of difference will it make to those involved? And, will it be “fun”? If involved in a challenging business scenario, working in a bit of fun while working thru the issue may result in your partners or team members to more likely work together and take on the challenges of growing a business. Finally, I ask myself if the outcome will make money. After all, we are in business to generate a profit, and if we’re not, then how do we expect to survive?

In a perfect world, I’d stop and contemplate each decision or potential outcome and maybe sleep on it to get it right. Life moves quickly and most of the time you must simply see the pitch and hit it. I’ve found that there are three that have helped me in this quick analysis which you may find helpful:

Continue reading
12 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Disaster Recovery: Emotional, Physical, and Financial

As Seen in Multi-Unit Franchisee Report - Disaster Recovery: Emotional, Physical, and Financial

We cannot predict when disaster will strike, but current events prove it can happen at any time. Whether it is hurricanes, flooding, blizzards, tornadoes, droughts, or wildfires, timing can only be determined by the "odds." This can cause us to become complacent in thinking that disaster will not hit our family, business, or geography. Thus, we don't prepare at all, because feeling "the unpredictable" is too far out of our control. However, to build exponential value in your multi-unit franchisee organization, it is essential to plan for the predictable, probable, and possible contingencies.

Plan can be a bad "four letter word" for entrepreneurial-minded business owners like multi-unit franchisees. But it can (and should) be your favorite word when you or those you care about are impacted by a disaster. By having a plan in place, you have the resources and protocols in to ensure you are there for your people, and you can recover damaged real estate or inventory.

There are a variety of areas we should plan to protect the financial, physical, and emotional future of our organization. Having a disaster recovery plan in place is one of the most important tools to keep the franchise business, your employees, and yourself moving forward should disaster hit your community. Let's face it, disastrous events can turn on a dime and you can find yourself in the path of destruction.

 

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
31 Hits
0 Comments

Dr. Merlot’s Perspective: Changing Face of Leadership

Loyd and I have not had the opportunity to get together as much as I would like over the last several weeks. Between our work schedules and the fact that he had surgery, not once, but twice, we have not been doing our regular golfing or commiserating. It does not mean that we have not been jabbing at each other whenever we get the chance, we just have not been on the golf course or having dinner where we can just sit and contemplate the problems of privately held businesses as much as we like.

Talking to Loyd recently, the subject of leadership came up and we reminisced about what “leaders” have looked like through the years we’ve been working with them. We could not help but think about how much the roles have changed from what was in the 70’s and 80’s what seemed like a “good ‘ole boy” style to where we are today. To clarify, when I say “good ‘ole boy” what I mean is business owners having power and influence through their relationships with their various sources that touch the business.

Today, that mantra of leadership has long since passed. We can blame some of it on the economic turn in 2008-2009, but all blame does not fall entirely there. The downturn did cause manufacturers and franchisers and business owners to face the hard fact that relationships, although important, will not sustain your business in a downturn. So, you could say that what we experience then has probably helped us prepare for what we are experiencing today, but it is not the most significant change we are seeing.

Working with second and third generation owned businesses, we run into a common theme of trying to run the business the way it has always been run. But what is taking place is a rapid change of leadership due to the expansive retirement of Baby Boomers. Combine this with the next generation of leaders that require leading and doing business differently. I like to call this a paradigm shift. Not only are we being forced to change the way we lead due to market changes, but we are being required to change the way we lead due to how the up and coming leaders wish to lead.

Continue reading
39 Hits
0 Comments

As Seen in Digital Dealer - Bringing Next Generation Family Members into the Dealership

As Seen in Digital Dealer - Bringing Next Generation Family Members into the Dealership

One of the biggest questions dealers are asking these days is when and how to bring their next-generation of the family in the dealership. The simple answer to this is that they should come into your business when they, and you are ready. Readiness, however, is a subjective term. These three perspectives, should be considered as you are going through the decision-making process:

  1. Yours, the owner
  2. Your next-generation family member, AKA Next-Gen
  3. Your business’

Yours, the owner

Your perspective as the business owner is foremost important. As the dealer principal, you have the freedom of control and the burden of responsibility. So, if you want your Next-Gen on board, feel free to make them an offer. However, if you are a bit reluctant to put on the fraternity or sorority rush, you are likely feeling the burden of responsibility to ensure you are not short cutting your Next-Gen or business.

 

Read the complete article on the Digital Dealer website 

Continue reading
63 Hits
0 Comments

Two Statistics That Should Drive Your Future Thinking

There are two statistics that probably won’t wow you in terms of fact but don’t seem to get the airplay they deserve when it comes to building business value for the future. And they won’t serve as “wow factors” in the annals of research, but based on the behaviors of many companies they seem to go overlooked.

Fact #1. The mortality rate among humans is running at right about 100%.

Fact #2. The perfection rate among humans is running at right about 0%!

Here’s what it should mean for any business owner (or team of owners):

No one really believes they’re going to live forever. But oftentimes the structure, policies, practices and culture of a company are designed around the current leader (or leaders), which probably makes sense if we’re focused on this quarter or the next one, this year or the next one.

But if we are to think long-term, we could – and should – be revisiting the way we’re structured and the culture we’ve created according to who the future leaders of the company will be. This creates a competitive advantage that will help us win for a long time, and builds value in the event we ever wanted to package and sell some or all of our company.

Continue reading
80 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Three Considerations for Ensuring Your Franchise Future

As Seen in Multi-Unit Franchisee Report - Three Considerations for Ensuring Your Franchise Future

A recent article, "The Coming Recession: What Lessons Can We Learn in Advance," made a simple, but significant point. We have recessions here in the United States. We don't always know when they are coming, or how long they will last, but one thing is for certain, they happen. And when they do, franchise owners who have not paid attention to historical trends or developed a strategic plan for the next few years can suffer.

The franchise industry is on pace to have one of its fasting growing years in history. In fact, the International Franchise Association reported in August that in addition to the number of franchise establishments increasing by 1.6 percent this year, the gross domestic product (GDP) of the franchise sector will exceed that of the total US GDP. With all of this growth, many owners may not be looking to protect themselves against an economic or consumer shift - or a natural disaster such as Hurricane Maria, Irma, and Harvey.

 

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
51 Hits
0 Comments

What Business Owners Should Know About Trumps Impact on Estate Taxes

Press Release - October 5, 2017

The announcement of the proposed repeal of the federal estate tax and the GST tax could provide an immediate opportunity for those that want to take advantage before the next presidential change. For business owners and high net worth individuals, the repeal affects those that have an estate plan in place, as well as those that are either in process or need to get their plan established.

 “Clients often ask us why they should even bother addressing their estate tax issues if the estate taxes are going away, based on proposals from the current administration“ comments Hugh Roberts. “The truth of the matter is that this is a fight that has been going on in Congress for the last 50 plus years. Regardless of the outcome, it will likely change with the next administration. Therefore, being prepared and being ready to act when given opportunity, is more important than waiting for the perfect combination of time or situation, if not for any other reason, the unknown is unpredictable,” continued Roberts.

 Earlier this year, Hugh Roberts wrote an article focused on Trump’s effect that you can read here http://seekingsuccession.com/index.php/easyblog/newsletter-archive/whats-the-trump-effect-on-estate-taxes

 

About The Rawls Group

The Rawls Group, specializes in working with business owners and key leaders addressing issues impacting the ongoing viability and sustainability of their business, including:

  • Optimizing current business performance
  • Recruiting, retaining and motivating key managers
  • Coordinating complex family, business and estate planning dynamics
  • Enhancing family relationships
  • Developing successors
  • Growing strategically

We serve as a catalyst to facilitate the discussion and resolution of sensitive issues so all stakeholders are reassured about the organization’s current and future prosperity. By partnering with our clients and their advisors, we work to develop a plan that perpetuates the leadership, culture, performance and relationships that are critical to business success.

 

For more information about The Rawls Group or questions in regard to the proposed legislation impacting estate plans, please visit our website at www.rawlsgroup.com or contact Kendall Rawls at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

 

Continue reading
61 Hits
0 Comments

As Seen On #AskNCM: How Do I Make My Dealership Successful?

282 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Operations and Lending Impact Business Value

As Seen in Multi-Unit Franchisee Report - Operations and Lending Impact Business Value

The last installment of this series is focused on lending and operations, and their importance in driving value in the business. In the first three articles, we focused on the overall value drivers in the business and then broke them down into the first two core value drivers of leadership and relationships. There is no question that leadership and relationships are the most critical value foundation of the business. However, the other two pillars are just as important to driving value in your multi-unit franchise organization:

Lending

Banks are going to want to know how strong your business is before they choose to invest in it (and you). When it comes to banks looking at the value of your franchise operation, they take into consideration subjective conclusions of borrowing capacity based on various criteria, including the three V’s of leadership:

  • Vision – Do you have a clear plan for use of borrowed capital? 
  • Values – Is there a positive impression of core values, character, etc?
  • Victories – Is there a track record of business successes that include borrowing money

It is important to understand that the bank’s impression of the business mission, strategic plan, character, competency, commitment of management and ownership continuity as they generally reflect on the bank’s confidence in your long-term business plan.

 

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
345 Hits
0 Comments

As Seen On #AskNCM: What do people want from a leader?

291 Hits
0 Comments

As Seen in Park Press: Family Dynamics - A Constant Force

As Seen in Park Press: Family Dynamics - A Constant Force

For family business big or small, family dynamics is often their heaviest weight to lift into the next generation. There’s an essay on weightlifting and life by Henry Rollins that’s well known in the fitness community (by folks in my generation, anyway). In it, Rollins talks about how finding weightlifting as a young man helped him build strength both physically and mentally. Rollins affirms that circumstances and people will change throughout life but that, “…two hundred pounds is two hundred pounds”. I think one of his points is that the “iron” is a constant, something that will always challenge him and that will always be there to guide him like a beacon in the night.

Continue reading
124 Hits
0 Comments

As Seen in Digital Dealer - Increasing Leadership Effectiveness: It’s Simple (But Not Necessarily Easy)!

As Seen in Digital Dealer - Increasing Leadership Effectiveness: It’s Simple (But Not Necessarily Easy)!

Think of the most effective leader you’ve known or read about? What characteristics made that person come to mind? Pick up any magazine, journal, or periodical and you’ll probably find one or more articles that talk about desirable leadership best practices and/or about becoming a better and more effective leader. Most of those articles make leadership sound like a mystical process that blends heart and head into someone who magically morphs into a super powerful, charismatic, influential, and bottom line human being. And the authors sometimes seem more concerned with whether a leader is good or bad than with whether or not the leader actually makes something happen.

Let’s take “good” and “bad” out of the picture for a moment. Instead, let’s focus on effectiveness and ineffectiveness. Can the same leader be effective and ineffective? Does it matter who’s being led? Do skill levels of the followers make a difference? Does individual willingness to follow make a difference?

Well, the answer to all four questions is yes. What comes first, however, is understanding what leaders actually do. In simplest terms, leaders use power and influence to produce results. Period. And everyone leads one or more someones, even if it’s only themselves. When led effectively, people and organizations grow. When led ineffectively, people labor and organizations can feel like a prison.

Read the complete article on the Digital Dealer Website website

Continue reading
390 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Three Relationships That Are Key To Success

As Seen in Multi-Unit Franchisee Report - Three Relationships That Are Key To Success

Value is derived from a variety of areas within the organization. Understanding the value drivers is a critical component of ensuring long-term sustainability and success. The four key areas of focus, as outlined in “Building a Foundation to Weather the Storm” are relationships, lending, operations and leadership. Although leadership is one of the most important categories for long-term success, it is not the only one.

We discussed last time how leadership impacts value in the areas of generational management, recruiting and retention, successor identification, and development. This time, we are going to look at the area of relationships and drill down into how they impact the value of your franchise operations. As with any business operation, relationships are a critical piece of the complex multi-unit franchisee business puzzle. The franchise industry is one that relies on relationships more than many others because of the dependence on brand reputation and product quality.

Although there are a multitude of relationships that have impact on the success of a franchise, there are three that play directly into the value of your organization:

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
103 Hits
0 Comments

As Seen On #AskNCM: How Do I Mentor a Family Member Employee?

248 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Success Requires More Than Operational Knowledge and Capital

As Seen in Multi-Unit Franchisee Report - Success Requires More Than Operational Knowledge and Capital

Driving value in business is dependent on a variety of factors. Previously, we identified four key areas for building tangible and perceived value in a franchise operations:

  • Relationships
  • Lending
  • Operations
  • Leadership

All of these are critical but without strong leadership and operations, the ability to receive lending and build relationships will be impacted.

Leadership in today's organizations is drastically different than in prior generations. No longer can we rely on how it's been done to keep us moving forward into the future. Rather, there needs to be focused intentionality in areas where franchisees have never really had to pay much attention. Here are three areas in which leadership is changing and how you can set your franchise locations up for success.

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
350 Hits
0 Comments

As Seen in Digital Dealer - Developing a Dealer-Minded Attitude

As Seen in Digital Dealer - Developing a Dealer-Minded Attitude

It is just too easy to not care. This was the keynote topic at a graduation a colleague of mine recently attended. In reflecting upon the focus on the commencement speech, and the audience – high school seniors, I realized that this is the same theme dealers are struggling with – how to get people to care.

More and more, what we hear from dealers is, “how do I get my people to care about the business as much I do?” Essentially, what they are referring to is, how do they foster a “Dealer/Owner-Minded Attitude” in their dealership.

The reality is it is very easy for today’s employees, and in even in some instances, our future leaders to show ambivalence regarding the impact they have on the organization or their own future. Often the root of ambivalence is fear – fear of failing, not being good enough, and/or not being chosen “seen” as a leader. And unfortunately, this is becoming common in the workplace, in part due to the generational diversity, but also in how culture has created a stigma of everyone gets a trophy. Therefore, this ambivalence, often comes across as a lack of caring – because without care, there is no failure or rejection.

Read the complete article on the Digital Dealer Website website

Continue reading
385 Hits
0 Comments

As Seen On #AskNCM: What's the Difference Between Recruiting and Hiring?

152 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Building a Strong Foundation to Weather the Storm

As Seen in Multi-Unit Franchisee Report - Building a Strong Foundation to Weather the Storm

In the best of times, it's easy to look forward and have no fear as to what the future is going to bring. It's also easy to forget to take advantage of the good times to build a foundation that can withstand any potential future storm that might hit. In the worst of times, building this foundation can protect all that you have built, and hopefully help you weather the storm. A great example of this is taking a look back into history.

The economy tanked in 2008-2009. The markets affected most were those that not only relied on access to lending, but those that also relied on strong brands to pull them through. If you think back to the automotive manufacturing segment, Ford was the only manufacturer that weathered the storm, practically unscathed. The automotive retail industry, one of the hardest hit, had more than 1,200 dealerships collapse. Many of these were well recognized in their communities and top performers for the manufacturer. The dealerships that survived were able to, in part, thanks to the foundations that had been built long before the storm hit.

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
334 Hits
0 Comments

Adriana Puente, MST joins The Rawls Group

Adriana Puente, MST joins The Rawls Group

The Rawls Group, one of the nation’s most respected business succession planning firms, is proud to welcome Adriana Puente as our newest associate planner. Prior to joining The Rawls Group, Adriana received her Masters in the Science of Taxation from the executive program of the University of Illinois in 2009 and has more than 10 years of experience as a tax accountant focused on corporate, partnership, non-profit, high net-worth individuals and estate taxation. She brings to The Rawls Group a unique perspective on sophisticated tax planning techniques and the implications it can have on business profits, estate planning and family harmony.

Continue reading
418 Hits
0 Comments

As Seen in Multi-Unit Franchisee Report - Getting Help From Those Who Have Been There

As Seen in Multi-Unit Franchisee Report - Getting Help From Those Who Have Been There

My family and I recently took the plunge into the world of RV’ing. I enjoy operating all kinds of vehicles, so towing our new purchase round trip for the first time did not present too much concern, but I knew I’d have to be on my game. Anything new and different presents learning curves. One of the things I discovered soon, after plunging in, is the need for checklists. There are a variety of procedures and processes that must be in place and carried out for the RV to run properly, and to ensure that I do not kill someone on the roadway.

For instance, some of the procedures I had to learn included hooking up to the truck, unhooking and leveling the RV, putting out the slides and awnings, loading the motorcycles, dealing with the holding tanks and understanding black water, grey water, and fresh water. There is simply too much to do without a checklist, it would be very easy to make a misstep or forget something that could have a detrimental impact. In fact, if you think about it, there are a lot of instances in which checklists help ensure positive outcomes. Examples that come to mind are pilots and the checklists they use prior to flight, or captains of ships before they leave port. Surgeons have checklists to ensure they have all the proper supplies and staff before surgery, and each of your stores likely have opening and closing procedures organized in some sort of checklist. I’m sure you get the point.

Read the complete article on the Multi-Unit Franchisee Website website

Continue reading
169 Hits
0 Comments