Franchise owners know what motivated them to get into business in the first place. But have you ever considered how your motivations or perspective on being in business have evolved over time? The motivation and perspective of the owner is a very important part of the value and growth puzzle of the business. New [...]
Culture in organizations matters. There are only three resources in almost any business: people, time, and money. One of my partners at The Rawls Group likes to point out the difference between an average performing business and a world-class business most often comes down to the quality of your people and how they are [...]
Industry: Manufacturing: large-scale screen printing for tourist industry attractions. Company Overview: Dad and Mom founded the company over forty years ago out of a single store-front tee shirt printing business in rural Central Florida. As a first-generation business, the family persevered through many boom and bust cycles within their industry. Dad and Mom are [...]
Many franchise owners struggle with employee turnover and motivational leadership. No doubt many competitive business environments are difficult, with long hours and stressful deadlines. Employment rates are near an all-time low, so how do you keep your best people motivated to stay? And how do you inspire your good employees to strive to be [...]
A common question we here from business owners is "How in the world do I decide whether I should sell my business or pass it on to my children?" Common concerns include whether their kids actually want it or would they rather do something else; and if they do want it and multiple NextGen [...]
There are really only three resources in any business: People, Time, and Money. The difference between an average performing business and a world-class business most often comes down to the quality of the people and how they spend their time. Look for the right people who fit your organization, versus hiring to fit a [...]
The way you lead has a wide range of impacts on your business. A business can survive and even thrive for some time with a fire-breathing ego-monster. However when looking to retain your best and brightest, this is not your best strategy. Sure, the opportunity to "run the show" one day may motivate them [...]
Have you ever been asked what you do for a living? Rhetorical question, yes, but one that is often asked in social gatherings, and even from customers and vendors who may not truly understand what you do. Even though they know you are in the "franchise" business and own your own thing, there is mystery [...]
“Often, all that stands between you and what you want is a better set of questions”. - Tim Ferriss How do you eat an elephant? The phrase “succession planning” means different things to different people. Often, it’s misrepresented as simply having a buy-sell, or confused with having a basic estate plan. In our forty years [...]
Why do family businesses have a high chance of dying on the vine when the kids take over? As you might guess, there are a multitude of factors; like the perspective and motivation of ownership (sometimes a sale is the goal from the start); key managers might have other plans as the business moves into [...]
