Jéan VenantAll Articles
Developing Talent & Making a Lasting Impact: Strategies for Minority Car Dealers
Minority auto dealers face unique challenges when building wealth and planning for the future. With a rapidly changing industry, it's crucial to have a solid growth and succession strategy to ensure financial sustainability. From identifying talented individuals within the organization to expanding investment portfolios, there is an array of strategies minority dealers can implement to establish a solid financial foundation and create a lasting legacy. Identifying and Developing Rising Stars Succession planning involves identifying potential future leaders within the organization to build management and leadership bench strength and support growth initiatives. You may find these [...]
Succession Planning and Family Generational Wealth Transfer
Succession planning is a critical consideration for anyone looking to transfer their wealth to future generations. However, it is also important to consider the broader implications of asset transfers, especially when it comes to creating equitable opportunities for your minority key managers. In a recent video, Jean Venant, Succession Planner with The Rawls Group, discussed some interesting data on succession planning and generational wealth transfer from a chart released by the Federal Reserve. Growth in Asset Ownership Among Different Races The chart indicates that white Americans owned $49 trillion of assets in the US [...]
Accelerating Growth: Developing Leadership Bench Strength to Drive Success
In the fast-paced world of the automotive industry, growth and expansion are crucial to success. However, the growth process can be internally daunting, especially when it involves bridging the gap between your managers and leaders' knowledge and experience. Evaluating and creating a management and leadership depth chart is the first step to ensuring seamless growth transitions for your business. This exercise may sound like another task added to your busy schedule. Still, proactive engagement in training and people development should become your biggest priority and a prerequisite to your external growth strategy. If you don't [...]
10 Considerations Every Succession Plan Must Consider
Whether gifted, bought, or developed from the ground up, business owners put their passion to work to establish a lifestyle and opportunities for their families. Far from the entrepreneur's mind is succession planning because many believe it to be the end; when, in actuality, it provides options to create your vision. Succession planning is a transitional, strategic process focusing on the successful long-term continuity of an operating business through the next generation of owners, leaders, and managers. This process is not just about basic estate planning or profits but is highly dependent upon addressing multiple, interdependent, long-term performance factors [...]
Transfer Daily Management & Remain in Control
Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies at an owner’s fingertips ranging from an Operating Board of Directors, Management Advisory Boards, and Contingent Successors, just to name a few. Listen to Jèan Venant share different strategies for an owner to transfer daily management and keep the business as a family asset. Family [...]
Is a Temporary Successor Right For You?
The value of the business is directly related to the reliability of future profits. Potential buyers, banks, investors, top talent, and strategic relationships all care about the sustainability of business performance. A temporary, or as we call it, a "Contingent Successor," provides a business owner and their family a strategy to bridge a leadership gap due to an untimed or unplanned life event where the owner is no longer able to lead or operate the business. A "Contingent Successor" protects business value. The news has covered numerous stories about the value of a business plummeting [...]
