pornn

What's The Purpose Of Your Success?

Succession is dependent upon success. Therefore, mediocrity is not a succession option. In order for you to have confidence your successors can survive the predictable distractions, issues and problems associated with the transfer of ownership and management control your business must perform above benchmark to assure that there is adequate margin for a dip in productivity.

Continue reading
1430 Hits

Knowing Your Role and Playing Your Position

Football is one of my favorite sports and football season is one of my favorite times of year! It has been said that football is the ultimate team sport. Success on each play requires each player understand their role, work together, communicate effectively and ultimately execute to achieve the desired outcome. The teams that win consistently have committed players who know their role, play their position and trust their teammates will do the same each play. From my perspective, there is a striking parallel between football and family business. To successfully compete and operate a family-owned dealership or dealership group, requires each family member, manager and employee to understand their unique role, work together, communicate effectively and operate interdependent departments well. Whether you are a team member of a family business or a superstar on a football team, knowing your role and playing your position are key ingredients to success.

Continue reading
1469 Hits

The Rawls Group to Present at Digital Dealer 19 Conference and Expo

The Rawls Group announces that they will be presenting at the Digital Dealer 19 Conference and Expo being held in Las Vegas October 5-7th, 2015.

Continue reading
1544 Hits

A New Succession Challenge: Private Equity

The automobile industry has encountered significant changes over the last 20 years. We have seen public companies come into the market. We have seen the dot-com balloon inflate and burst. We have seen banks offer money to anyone with an IQ over room temperature and then call loans from the smartest, brightest and most successful in our industry. We have seen franchises devalued, nuked, given away and arbitrated as manufacturers went belly up and gave up control to our government. And here we are with stock market returns struggling to beat inflation and the investment world recognizing that auto dealerships are a good buy at six, seven and eight times adjusted earnings.

Continue reading
1695 Hits

Brain Bombs From Dr. Merlot

As a succession planner, Dr. Merlot is engaged in an amazing diversity of issues on any given day. The average day is replete with high and inside "heaters" from all points of the Succession Matrix® of issues. Predictably this nonstop progression of diverse succession issues creates excitement that ranges from invigorating and gratifying to confusing, perplexing and shocking. None the less as a poster child for Attention Deficit Disorder, Dr. Merlot thrives in this frenetic environment with occasional reliance upon the medicinal qualities of the nectar from the grape that has earned him the moniker, Dr Merlot. After taking a few moments to decompress, we thought you may find it interesting to listen in on a morning of Dr. Merlot's Brain Bombs as they may provide you perspective on Brain Bombs you may be facing.

Continue reading
1479 Hits

As Seen On Automotive Buy Sell Report- Why do I need a succession plan if I’m going to sell the dealership?

If you plan to sell your dealership, some would say succession planning is a waste of time, emotional energy and money. They might be right. However, I would encourage them to talk with Jay (not his real name) before they make a final decision. 

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

Continue reading
1513 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

Continue reading
1526 Hits

Interview - Key Issues Impacting Dealership Succession Plans

Check out Dan Schneider's Interview on Car Business Today where he discusses key issues impacting your dealership's succession plan. 

 Click Image to Preview

Dan-Schneider-family-business-succession-advisor

 


 Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.


1432 Hits

Interview - Why Your Dealership Needs a Succession Plan in Place

Check out Jeff Faulkner's Interview on Car Business Today where he discusses why your dealership needs a succession plan in place. 

 Click Image to Preview

jeff-faulkner-business-succession-planning-the-rawls-group

 


 Sign up for our monthly e-newsletter to stay informed on how to overcome related succession planning issues.


1341 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."

Continue reading
1401 Hits

Wills and Trusts - How to Keep Your Family and Business Matters Private During Probate

As a succession planner, I am in constant dialogue with my clients’ attorneys about appropriate estate planning structures. Depending upon the state of residency, the training, and the perspective of the attorney, the dialogue can be interesting, especially when it comes to a few of my preferred structures, simple Pour Over Wills and Revocable Trusts. As we discuss these options, I commonly hear, “We can accomplish the same objectives with a Testamentary Trust Will.”, which is a Will containing a trust that is funded after the completion of probate. However, my classic response is, "Our clients who own a family business, and to varying degrees are subject to greater publicity and scrutiny, would prefer to remain private, and depending upon the state, avoid the hassles of probate, which cannot be guaranteed with a Testamentary Trust."

Continue reading
1903 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.

Continue reading
2106 Hits

How to Create a Culture of Excellence. Have You Defined the Standard?

I recently went to my local Toyota store to get my oil changed. I had called ahead of time to make an appointment. I made the appointment for 7pm because I was told the wait time would be less at that time of day. Unfortunately, that message was not communicated to the service department staff. When I arrived in the service lane promptly at 7pm, I stood by my car and waited patiently for about 10 minutes before the only service advisor in the place worked through the paperwork of the customers in front of me and came to greet me and find out what I needed. Find out what I needed? I called that morning and made an appointment after describing to the person on the phone what I needed. It was as if they weren’t expecting me. No. They clearly weren’t expecting me. As my son is fond of saying – “Epic Fail.”

Continue reading
1498 Hits

Living in Dad's Shadow - When Kin Can Cash In

"I love coming to work every day!” exclaimed the 81- year old dealer. No doubt and he definitely still had plenty of gas left in his tank! Energetic and mentally sharp, his idea of “retirement” was to come in to work at 10:00 a.m. (“but I stay at least until 5:00 p.m.”). As the founder of his dealership empire, he was extremely proud of what he had accomplished and still felt he could contribute and run the business if he had to. So what’s the problem? 

Continue reading
2014 Hits

Building Success: Do’s and Don’ts for Leadership

Business success, more than just “getting by,” is an essential first step to succession planning. Success is a key ingredient to Succession. It drives momentum, culture, purpose and profits that create business value.

As I work my way around the patch, I am often asked, “Swami of Succession, how do I build a level of success to justify succession planning?” It should come as no surprise to you that I don’t have a “silver bullet” answer. However, I can definitely share some “do’s” and “don’ts” of leadership and management that I have consistently witnessed as having a direct impact on success. 

Continue reading
1908 Hits

Case Study – Misaligned vision between Owner and Management Creating Low Business Performance

Industry: Automotive 

Location: Midwest United States 

Company Overview: Family-Owned Group of Auto Dealerships 

Succession Matrix® Issues: Business Performance, Management Synergy & Teamwork


Challenge: While the owner’s measure of success for each store was based on net return, the store managers were solely focused on gross sales. This misalignment was causing the stores to perform below the planned level of net to sales. Dealerships were also under-performing when it came to gross sales and were receiving only 60% of the manufacturer incentive opportunities.  

Continue reading
2507 Hits

Case Study – Strained Family Relationships Impacting Potential for Successful Succession Plan

Industry: Automotive 

Location: Northeast United States

Company Overview: Family-Owned Group of Auto Dealerships 

Succession Matrix® Issues: Family Dynamics, Management Synergy & Teamwork


Challenge: First generation car dealer looking to pass the business on to the second generation, yet no clear successor. Environment for children full of sibling competition fueled by dad as well as fear of the impression their father has created of them with the other managers and employees. The active son in the business was at odds with the CFO who he felt was his biggest threat for becoming the successor. The daughter was a stay-at-home mom who wasn’t sure where she would fit in if she did decide to come into the car business. The younger son was unhappy and floundering without a clearly defined role (but still taking home a paycheck).

Continue reading
1937 Hits

Case Study - Management Synergy and Teamwork's Impact on Business Performance and Succession Goals

Industry: Automotive 

Location: Southeast United States 

Company Overview: Family-Owned Group of Auto Dealerships 

Succession Matrix® Issues: Business Performance, Management Synergy & Teamwork 


Challenge: The General Manager of one of the dealerships was making decisions solely based on what was best for him and his store which was proving to be counterproductive to the overall interest of the company. Dealership was not performing at the level it was capable of.

Continue reading
2661 Hits

Succession Planning Builds Value - Manufacturers Are Beginning to Understand and Promote the Benefits, Part 2

“Big Boy” corporations such as manufacturers and franchisers are in recovery mode from the business downturn of the last four or so years. As these organizations reflect back to lessons learned, they have identified that poor distributor succession circumstances was a critical reason they took such a financial beating.  Simply, their dealers and franchisees had spent all their time working in their business rather than on their business, which would have better prepared them to be able to weather the storm.

Continue reading
1931 Hits

Succession Planning and Business Growth

“What are your goals?” is the common question I present to clients and prospects. 

“We want to grow,” is the common response I get from dealers who have found a way to make decent money in indecent times. And as though we were talking about buying filters for an air conditioner, they continue with, “and we would like to pick up a couple, three maybe four more dealerships. We know the management formula; all we need are the deals.”  

Continue reading
2387 Hits