5 Must-Know Tips For Dealing With A Troublesome Family Business
The car business is synonymous with “family business.” Some of you work with family today. Some have a high possibility of the family entering the business in the future. Some of you are working with loyal, long-term employees that you consider family. At its best, a family business is a beautiful combination of communication and collaboration built upon a foundation of mutual respect and accountability. At its worst, family business falls prey to dysfunctional multi-generational communication, with family members giving the silent treatment, bullying one another, and grinding over emotionally driven exchanges. The “norm” among family members in a [...]
How Will the New Normal Affect Our Culture?
What is normal? A great question to ponder as in the business world change is always around the corner. Perhaps not at the level of a global pandemic, but change is something necessary to navigate all the time. When something like a crisis hits one thing is for sure, there are internal AND external factors business owners and leaders need to recognize. In addition, we have to be looking for learning opportunities of how we can make our culture more crisis-proof and flexible. From remote work to new operational policies, to the adoption of new [...]
CFO’s are Critical to Succession Planning
CFO's have a vested interest in succession and the continuity of business success – after all, it impacts their own success. They understand the future goals and vision of the current owners and understand that others in the multi-unit franchisee organization also have a vested interest in the continued success of the business through the next generation of leadership. Influential CFOs are the business conduit between short-term financial goals and long-term vision and business strategy. The CFO functions in a multitude of areas critical to succession and by leveraging your CFO they can facilitate positive outcomes to potential succession [...]
Bench Strength: How to Develop Your Bench and Make Changes to Your Roster
When we think about our organization and what keeps it strong and, if done right, provides plenty of bragging rights, it points right to our people. People are our biggest asset, and developing them, so they are loyal, dedicated, engaged, and all the other adjectives we use to describe the best of the best is what we call developing your organization’s bench strength. In "Bench Strength: How to Develop Your Bench and Make Changes to Your Roster," Dan Iosue points out it is important to recognize, each individual in your organization has different motivations, backgrounds, behaviors, and differing levels [...]
Only Some Family Want To Work In the Dealership(s), What Should I Consider?
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 be involved or not, setting policies and expectations and communicating them clearly are critical. Watch the short video to hear John Davis with Haig Partners and our very own Dan Iosue and Champ Rawls' insight on the burning question. As you listen to this episode you will [...]
As a Dealer, What Should I Consider as Dealerships Start to Reopen?
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 and work towards creating a safe and healthy environment for your employees and customers. Gather your key managers and include them in your plans for reopening. Work together, arm in arm, with an attitude focused on what you WILL get done versus what might not [...]