Family businesses are complex and rewarding at the same time. Emotions, family dynamics and different expectations are involved, making it even more challenging. To ensure your vision for the business is carried out, and goals achieved, ensure you set the family up for success. Regardless of whether family wants to [...]
Bethany Lynch with MCM CPAS and Advisors and Dan Iosue and Champ Rawls with The Rawls Group offer insight into how dealers can successfully start to reopen. Key points to consider: Have a plan in place and communicate it to your people. Take into consideration your state and local guidelines [...]
Our world is in a transition. And we have a choice - thrive or survive. COVID-19 felt like it happened overnight, without any warning, leaving many leaders scrambling to keep their teams engaged and productive. The COVID-19 pandemic represents one of many business transitions you will face as a leader. As you listen in, [...]
Business structures and agreements have a huge influence on taxation, ownership control, transfer on gifts and estates, and shareholder access to cash flow. A critical component of the interdependent areas of the Succession Matrix®, business structures also protect owners by helping to achieve desired outcomes with any partners, involved family, and key managers. To get [...]
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 [...]
