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

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As Seen in Park Press: Hitting the Apex

As Seen in Park Press: Hitting the Apex

In all aspects of life, it is not about the destination, it is about the journey. Racing is a great analogy to this, as well as, to the longevity and sustainability of your business. Like a racer, every race brings with it a different set of challenges, but all races have the same expectation. Winning. Not just winning one race, but winning as many as you can so your reputation is strong to garner sponsorships and your team is committed to helping you win.

A business owner is very much like a racer. You take special care to ensure your business performs well. This means building the foundation of the business, as well as establishing a team to support growth efforts to help your business thrive. How you invest in your team impacts how the business performs and defines how you are able to support your family, your team, and community.

Like that racer, you’ve spent many long days and sleepless nights making improvements, working relentlessly to be the best and to bring out the best in others. Fine tuning things to win, thrive and sustain. Not without sacrifice, your family has felt the struggle while sharing in the success, and failures. Still, there are risks present that whether you are on the racetrack or running the business, being prepared for what may come is critical to protecting all you have worked so hard for. As the business owner, this means not just looking at where you are today, but also looking forward, just as a racer does going in a turn, to ensure you have built a business that will not only be successful today, but for years to come, even if you are no longer involved.

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Dr. Merlot’s Perspective: Leading from a place of Position vs Personal Power

I knew it was not going to take long for Loyd to get me back for my, ehhem, outburst the last time we spoke. How was I to know that he had the client on speaker, while golfing? Thankfully, the client did not seem offended as he ended the call with a little trash talk in expressing I am a better golfer than Loyd, which probably sent Loyd into golf orbit. I suspect Loyd has been practicing his game, since I was on my way to join him for a round while I was in Orlando.

Even though, Jack our client seemed fine at the end of our last conversation, I still couldn’t shake the feeling my Dr. Merlot “straight talk” had potentially offended him. Normally, I don’t care much because truth is truth and people need to hear it, but since I talked so freely not knowing Jack was on the phone in addressing Loyd’s question last month about “Is enhancement of personal lifestyle reasonable motivation for growth?” I was certain I had stepped in it somehow. This made me reflect more on a topic we are seeing more and more when clients are focused on building teamwork. What has become increasingly clear, especially with the multiple generations in a workspace, is the impact of tone and communication and how it relates to strong leadership.

Before Loyd could get his firs t-shot off, I thought this might be a good topic to dive into, while also offering myself up as the sacrificial token in a means of saying I was sorry. For the next eighteen holes, Loyd and I discussed how management style impacts people, attitude, recruitment and retention and overall culture of the business. Loyd also asked me to express my thoughts on leaders who try to rule from a place of positional power. Needless to say, this conversation took up the majority of our golf round, and could have continued into the dinner we had later that evening.

Loyd and I first focused our discussion on managers who “rule” from a place of positional power. What I shared with Loyd is it’s a touchy subject. It requires leaders to identify their style, and in most cases, make adjustments because positional power, or influence, is commonly a factual or implied superior role. We see it directly with owners, department managers, bosses, older siblings, or parents. It is, in simple terms, a “power” position where the leader uses their title or standing to influence those around them, and it often leads to malicious compliance.

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The Impacts of Family Dynamics on the Transition of Leadership in a Multi-Generational Dealership

In a collaborative effort to demonstrate some common roadblocks that both DHG Dealerships and The Rawls Group often sees within family-run dealership clients who are in the process of making leadership changes, this case study will briefly analyze the family dynamics between Sam (dealer) and his son, Mark.

Background

At 80 years-old, Sam is the majority owner and CEO of his family-run dealership. While Sam remains active in business operations and decisions, the time he spends at the dealership is gradually decreasing as he currently works about one or two days per week. Sam’s management team is very loyal; however, the micromanagement style of leadership he implements has proved to be a difficult challenge to overcome for his 50-year-old son, Mark, who serves as the stockholder “dealer” and is ready to start exercising more control.

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Dr. Merlot’s Perspective: Growth of Lifestyle Motivation for Business Growth

After an interesting golf game with Loyd, I was left contemplating why business owners often look at reasons other than their existing or potentially enhanced lifestyle when it comes to evaluating business growth. In the case of our conversation with Jack last month, Loyd and I had the opportunity to share with him why growth matters, even if the business is doing well. It is an easy area of confusion. If your business is in a good spot, you are making money, your people are happy and your bank account can sustain a future for you in retirement, why care about growth? A very simple answer is - life changes in a moment. What may look like is going well today, may in fact change in an instant. Therefore, if you are not constantly looking forward and trying to achieve more market share/growth, the lifestyle that you may wish to lead long after you have left the business, may not be a reality.

So, then we must take a look at motivation and understand as business owners, what is our real motivation to not only be in business, but to take on risk and continue to strategically grow and enhance the business to sustain the future? For some, it is likely to give back, develop people, contribute to the community, build something – which ultimately is to build a legacy.

Irony. Loyd happen to give my office a call as I was sitting here pondering this thought. I picked up the phone and answered, “Hey there, scratch golfer, to what do I owe the honor of your call?” With a slight chuckle, Loyd did what he does best. Without a hello, he simply asked me, “Is enhancement of personal lifestyle reasonable motivation for growth?”

I am not going to lie. I about fell off my chair because it was like he was in my head, and here I was thinking, I was the shrink in the relationship! I was not going to let Loyd one-up me, so I responded with,

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Dr. Merlot’s Perspective: Motivations and Strategies for Business Growth

Loyd and I found ourselves both with a Friday free from client travel, so we decided to meet for a round of golf. I always love an opportunity to talk some smack to Loyd about his golf game.

We were rounding the turn to move to the 10th hole and ran into a friend of ours, Jack. We took a minute to catch up, giving updates on family and business. As Loyd and I were about to pull away, Jack asked if he could ask us a quick question about his business. Jack was scratching his head, so I could tell he was really struggling with something. In short, Jack had been in Board meetings the previous day, where most of the conversation focused on strategic planning and growth. Jack’s business had a strong customer base, reputation in the community and product/services. To him, he felt everything was great and his mentality was focused on sustaining success, but his Board members were more focused on growth. As such, Jack felt at odds with his Board and was struggling with the direction of the strategic plan. Other than a date confirmed for the next Board Meeting, there was no resolution or next steps identified at the end of the day. Knowing our backgrounds, Jack asked:

“If everything is going well, why is business growth so important, other than to fill someone’s ego or make more money? I need a compelling reason to take on the risk."

I opened my mouth to speak, but Loyd beat me to the punch.

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Part 2: The Impacts of Family Dynamics on the Transition of Leadership in a Multi-Generational Dealership

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Part 1: The Impacts of Family Dynamics on the Transition of Leadership in a Multi-Generational Dealership

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As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

As Seen in Multi-Unit Franchisee Report - Investing in Recruiting and Retention Programs

Starting December 1, 2016, our industry faces potential impacts from new labor laws, one of which includes creating additional retention challenges to our already stressed talent pool in the franchise industry. The Fair Labor Standards Act (FLSA) of the U.S. Department of Labor (DOL) is making significant changes to overtime pay for employees. As outlined in the article, “New Overtime Rule Compels Problems for Franchisees,” the change means that it is going to force employers to shift the pay status of their employees from salaried to hourly.

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

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As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

As Seen in Multi-Unit Franchisee Report - People Are Our Competitive Advantage

Competition in business is what helps to keep us focused on strategic growth. However, in today's landscape, competition is bigger, stronger, wider, and more present than ever. Innovations in technology give your customers access to similar products and services from companies that are not located in their geographic footprint. With a click of a button, an order can be placed, shipped, and received to a buyer that should have been yours.

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

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As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

As Seen in Multi-Unit Franchisee Report - Achieving Sustainable Excellence in Your Business

Multi-unit franchisee businesses, regardless of the concept, location, or size, all strive to build value, create longevity, and generate success. Ultimately, with value, longevity and success, the world is your oyster. No matter your short or long term vision, whether it be a high value sale or transfer to a key manager(s) or family.

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

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As Seen in Multi Unit Franchisee - Strategic Planning Creates Exciting Future

As Seen in Multi Unit Franchisee - Strategic Planning Creates Exciting Future

Some things in life are actually fun to plan - weddings, vacations, and special celebratory events. The planning that goes into the event usually leads to a happy outcome, even when there are bumps along the way.

Business Planning, however, usually gets a bad rap. Mention business planning to a multi-unit franchisee entrepreneur or a fast moving, high-energy executive and watch their eyes begin to gloss over. So how do we make business planning fun, exciting, and worthwhile for those involved?

Read the complete article on the Multi Unit Franchisee website

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Chimp, Chump, Champ: The 3 Stages of Successor Development

On a limited basis, The Rawls Group provides Successor Development Forums (SDF) for prospective leaders who feel they need coaching and education on the unique challenges of successor development. An SDF is not intended to be a "lucky sperm club;” it is intended to be a “work group" for successor candidates who are seeking coaching that they cannot get at home.

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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.

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How to Move Under-Performers Up or Out of Your business

Take stock of the employees in your company; most likely you have already mentally classified them into categories of nonperformers, underperformers, average performers, or super performers. Hopefully, you have the majority of your people in the super performer bucket, but in all likelihood, you have a mix of all four types.

As the business environment becomes more complex and even more litigious, it's important to know how to deal with each of the 4 groups for two very different and yet related reasons: Risk Management and Productivity Management. With the concept in mind that you are only as strong as your weakest member the following will provide insight into how to address those in the non performer and under performer buckets.

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2 Key Areas Impacting Your Ability to Take Your Business to the Next Level

When working with a team of business leaders, one of my first questions is "How many of you are ready to go to the next level?” Either a lot of hands go up or there is a chorus of "Absolutely." And then I ask them "How many of you know what the next level looks like?" The near to total silence is deafening. They don't know what the next level looks like; and there is some concern that somehow, it might require more work and effort.

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Use Your Business Processes to Build a Solid Reputation

A client and I were walking back to my car when she asked, “When should we start to get concerned about our business reputation?” After a few seconds of thought, I answered “Well, if you wait until you have one, it could be too late. So I suppose the best time to be concerned about your reputation is before you actually have one. Then you still have time to help shape it rather than recover from it.” 

To make sure your business processes positively impact your reputation, you need to choose what you want to be best known for in the marketplace: operations (cost and speed); innovation (cutting edge of the industry); or customer relationships (ease of doing business). Your business processes reflect favorably or unfavorably on which brand designation you choose. 

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3 Tips for In-Laws in the Family Business

The third step to navigating in-law in the family business is to avoid giving off the appearance that you are motivated by the opportunity to live on “easy street.”  If you see an opportunity to work in your spouse’s family business as just one of many options, and that the job in the family’s business is the best opportunity to fulfill the expression of your talents, strengths, capabilities, and training, then you may achieve success. If it doesn’t work out, that’s okay with you, as you will just move on to the next best option.  This will position you to make an unreserved commitment to the mission of the business and the existing leadership, which will provide for you the highest probability of success.

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Business Growth - Why Determining the Underlying Motivation is Critical to Success

I was interviewing the 4th generation son of a business owner recently and asked about his vision for the company. He described a very aggressive vision for growth through acquisitions and diversification into other locations and channels. This kid has been in the family business all of two years! The business has afforded him a very lucrative and flexible job during difficult economic conditions. Having never even been responsible for running a department within the business, I found this vision astounding. 

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Business Performance - You Must Have Success Before You can Have Succession

Business success and succession are dependent upon financial success. Therefore, before succession can occur, your business must first achieve and maintain a high level of performance.

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