Dan IosueAll Articles
Unlocking the Secrets to Effective Succession Planning
Succession planning is critical for family businesses, especially in industries like automotive retail. However, there's often confusion about the role of estate planning within the broader context of succession planning. In this video, Dan Iosue clarifies the pivotal role of estate planning while emphasizing that it's just one integral piece in the intricate succession planning puzzle. The Relationship Between Estate Planning and Succession Planning It's a common misconception among dealers that estate planning is synonymous with succession planning. Still, Dan Iosue provides much-needed clarity. Estate planning, he explains, serves as a "cornerstone" in the succession [...]
The Succession Planning Process: What to Expect
Succession planning is crucial in ensuring the longevity and prosperity of any business, and in the automotive industry, it's particularly vital. This video features our very own succession planner, who offers a deep dive into the complexities of the succession planning process, making this video a must-watch for dealership owners and individuals seeking valuable insights into this critical business strategy. The Significance of Data Gathering Dan Iosue explains the data-gathering phase, a fundamental aspect of succession planning. He underscores the importance of accumulating and analyzing pertinent information from technical and subjective perspectives. Identifying pivotal data [...]
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 [...]
