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As Seen in Multi-Unit Franchisee Report - Resolutions - Looking Forward

As Seen in Multi-Unit Franchisee Report - Resolutions - Looking Forward

In our last article, "Reflections - Past, Future, Present" we talked about reflections and how the holiday season is the one time of year that we find ourselves reflecting, without even trying. In addition to reflecting during the holiday season, as a new year begins again, we are also no doubt thinking about what we would like to do differently, stop doing, or that new thing we would like to try. We commit to a decision, and start off January with a new focus.

The reality is that resolutions tend to fall short as time goes on. We start out strong, but I bet you can attest to not always sticking to the resolution. You are in a very small minority if you have achieved your resolution throughout the year. What about your franchise business? As you have reflected on the past year, have you considered resolutions for the new year? Are you committed to keeping them throughout the year, and do you have a mechanism in place to ensure you do not fall short on your commitment?

 

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

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As Seen in Park Press: Family Business Hurricane

As Seen in Park Press: Family Business Hurricane

Transitioning a family business to the next generation can feel a lot like hunkering down for a tremendous storm. Just like the winds and rain that push the walls and windows of a home, so too can the anxiety and stress in the family business push many past their breaking point. Often, you know the storm is coming with time to prepare, but hoping the storm will pass gets in the way of taking action. And, the closer the storm gets, the less time you have to fully prepare. It is, no doubt, stressful considering the impact of the storm, but ignoring it does not change the inevitable.

Proper hurricane preparation includes gathering batteries for flashlights or they’re not of much use. Gas for the generator and the chainsaw, water for cooking and drinking, screws for the plywood, sand for the sandbags, etc. Preparing well in advance makes the task at hand less overwhelming and with enough time, you can not only double check your work, but also catch anything that may have been missed. Whereas waiting until the last minute gives you fewer options, and you potentially end up huddled together, riding the storm out and hoping for the best. This is not the soundest strategy and sets you and your family up for potential disaster.

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As Seen in Park Press: Thankfulness, Celebration and Renewal

As Seen in Park Press: Thankfulness, Celebration and Renewal

“Here we are again”, I say to myself as I climb a ladder up towards my mother-in-law’s Christmas decorations, held precariously in the rafters of her garage for the past eleven months. I feel like I find myself saying something like this more often each year as the seasons roll on by, and yet of course, the same amount of time has passed. Fortunately, this year finds my family and friends healthy and safe and living in a country with beautiful choices available to them and a way of life that is arguably the envy of most of the modern world. As a natural born optimistic pessimist, I need to actively practice gratitude to focus on the silver lining of circumstances. To view problems as challenges and failure as growth opportunities, instead of succumbing to the internal need for perfection.

As luck may have it, I recently came across a quote that gave me pause and reason to think more deeply on thankfulness, celebration and renewal. Both for myself personally, and for my clients, as they wrestle with many of the difficult, emotionally charged situations that are part of a family business environment. The quote is by an author and poet, Mary Karr, who happens to have attended Macalester College, my alma matter and proving ground for my own self-actualization a million years ago (go fighting Scotts).

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As Seen in Automotive Buy Sell Report - Three Steps to Making Business Planning Fun for a Dealer

As Seen in Automotive Buy Sell Report - Three Steps to Making Business Planning Fun for a Dealer

Some things in life are actually fun to plan, such as weddings, vacations, and special celebratory events. The planning that goes into the event usually leads to a happy outcome, regardless of how long the planning takes and even if there are bumps along the way.

Business Planning, on the other hand, can get a bad rap. Even mentioning business planning to a fast-moving, high-energy dealer makes his or her eyes begin glaze over. So how do we make business planning fun, exciting, and worthwhile for dealers?

Step 1: Think Big

Envisioning what you want your dealership to be is one of the reasons you became a dealer. Allow yourself to think big in the areas of facility design, approaches to attracting and retaining talent, and developing unique customer acquisition/service initiatives. Think: What could I do today that would forever change the way I do business?

  • What can you do to capitalize on in the dealership to drive performance (New/used Car Sales, Parts, Service, etc)?
  • What can you do to build a rewarding culture for your people?
  • What sort of actions are you taking to stay ahead of changes in the industry, including continued generational diversification and new technology in both operations and automobiles?

Read the complete article on the Automotive Buy Sell Website website

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As Seen in Multi-Unit Franchisee Report - Reflections - Past, Future, Present

As Seen in Multi-Unit Franchisee Report - Reflections - Past, Future, Present

As we prepare for a new year we often focus on keeping/growing what we have gained, or minimizing what we have lost. We also tend to get tunnel vision on growth and what the new year will bring. And, we cannot help but reflect on the past year as we look forward to where we want to take our business.

Reflecting on the direction of your business is a healthy exercise to provide insight into the future. You can look at trends, customer activity, and all those operational things that dictate what we think the next year is going to look like from a profitability perspective. However, where we sometimes fall short is in reflecting on those “touchy-feely” things that have the biggest impact on the growth of the business. The reason these things have such a big impact on the business is because they have to do with people and people have feelings.

For example, if you had to stop for a moment and reflect on the past year, what would be the first three things that come to mind? Growth in profit? Growth in portfolio? Growth in locations or brands? But what if you were challenged to reflect on your leadership and what you have done to ensure the sustainability and growth of your franchises through your people? Or better yet, what have you done to ensure the sustainability and growth of your people?

 

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

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