The majority of owner’s we interact with are in what Jeff Bannon refers to in this article as “Succession Limbo.” The most common reasons we see owner's "stuck" is either fear of making a poor decision or lack of clarity on planning options available to them. To provide a way out of succession limbo for [...]
Sell or grow is a common question owners wrestle with as they consider what’s next. In this article, Jeff Bannon, along with Renay Winston, who is the president of People Management Solutions, discuss how owners can find clarity. Jeff and Renay suggest owners to consider the following questions: What does the current and future [...]
In “Building an HR Department with The Right Recruitment and Development Tools”, Kendall Rawls shares that human resources is a complex environment and we often see the owner or a staff person taking on responsibility for these details on a part-time bases with a slew of other responsibilities. As such, it is easy to “step [...]
Effective leadership can often feel like a mirage, something you aspire to but often seems fleeting. People are fickle. As soon as experts proclaim they have figured out “what people want,” a new generation enters the workforce with different wants, needs, and motivations. With this comes the ever-evolving leadership and succession planning challenges business owners [...]
Franchisors are deeply concerned about franchisee’s lack of clarity of a succession plan and preparedness to execute one. To motivate franchisees and to protect their brand, some more seasoned franchisors have created requirements for franchisees to identify their successors who must be formally approved prior to any transition of ownership or executive management. Failure to [...]
For better or worse, an organizational (org) chart can communicate many things to your business family. While the act, or perhaps even the thought, of defining your management structure may seem tedious, the development and communication of it to your team is critical to maintaining profitability, managing expectations, and motivating performance. Leading a stronger and [...]
Welcome to the kick-off of our, “Advancing Your Business, Your People, and Your Legacy” conversation series. Click here to access webcast replay For the kick-off of the series we are going to go into a deep dive discussion to determine, “Where Are All The Leaders.” Joining the conversation to help navigate this leadership conundrum is [...]
Defining the members of your business family can be difficult. Especially, when considering the idea that your family business members include anyone you do business with for reasons other than just money. As a result, family dynamics can become quite complex among minority partners you may have, whether they are blood related or not. Whether [...]
You need a plan to know where you're going. Whether you are hung up on a keep or sell decision, identifying a successor (children or key manager/partner), or continuing a partnership, you need a plan that provides flexibility while creating the necessary structure to maintain harmonious relationships that will support the business when you're no [...]
Growth is not only about driving more profit, it's also about building a portfolio of locations, and to many, a diversity of brands. In the beginning, it is very easy to devote all your time to the first location. But before you know it you are on to your second. You find you are able [...]
