Not all family members will want to be involved in the family business, it is just the way it goes. Even so, those who are actively employed and those who are not share one thing in common, all have emotions and expectations of how they expect to be compensated. As [...]
If you’ve decided that it’s time for your kids to take over the family business, there’s more to it than simply handing them the keys. You need to have a succession plan. We can’t give you a template, as there’s no single “right” way to do it. But you do need to have a [...]
The biggest consideration for business owners as you start to reopen is ensuring the safety for your people, customers and communities. It is your job to ensure you get your people back to work safe, and that your protocols and process are clearly documented and communicated. Matthew Scully with Burr [...]
With all the challenges associated with operating a dealership today, surviving and thriving into the future has never been more complicated. Simply, where and how does the dealership of yesterday move to what it can and needs to become to succeed tomorrow? To answer this, you first must look at your foundation: “Who are you?” [...]
What is happening? Where are we going? When will this end? How much worse can it get? These are challenging and uncertain times, to say the least. In just a few days the economy began to grind to a halt while anxiety and panic left the general public with their mouths wide open. Your [...]
Understanding your long-term lifestyle goals is key to evaluating the keep versus sell question. Start with your number and then work back from there. Identifying what you need/want to live the lifestyle you have worked so hard to cultivate will allow you to develop a short term plan based upon [...]
Before making any decisions about the future of your business, it is critical to step back and make an assessment of goals and vision. Evaluate if your business is ready, are you ready and how do you want the future to look. Champ Rawls a Partner of The Rawls Group [...]
You may have heard the saying " you should be plan for your exit when you are starting the business." Where that is very wise, it is very hard to think about the end when you are dealing with the nuances of the beginning. Developing culture, recruiting, supply chain, delivery [...]
A recent study performed which Gina Miller discusses in this podcast revealed 60% of business owners surveyed felt they understood the value of their business but only 8% had their business valued in the last few years. Where do you fall? Champ Rawls a Partner of The Rawls Group and [...]
As one has set out to build a business to fulfill their entrepreneurial goals they also looked at the business for as a means to build the lifestyle they imagined. Often a business owner's largest asset is their business. In a recent study Gina Miller discusses in the podcast, only [...]
